Shanghai, China (October 22, 2019) – Yum China Holdings, Inc. (the “Company” or “Yum China”) (NYSE:YUMC) has signed a donation agreement with the China Internet Development Foundation (CIDF) to promote charitable activities online. The signing ceremony took place during the “Online Charity Forum” at the 6th World Internet Conference in Wuzhen, China. As part of the agreement both parties will work together to encourage charitable activities online and promote positive energy on the internet.
According to the agreement, Yum China will donate RMB 10 million to the China Network Development Fund's “Internet Public Welfare” special fund. The fund aims to enhance positive energy on the internet by promoting charitable content related to emergency response, fire prevention and safety education, poverty alleviation, healthy lifestyles, and charitable activities.
Wei Zhengxin, Secretary General of China Internet Development Foundation (CIDF) and Joey Wat, CEO of Yum China signed the agreement on behalf of both parties. Li Bo, Counsel of the Charity and Social Welfare Department of the Ministry of Civil Affairs, Feng Yumei, Deputy Director of the Planning Bureau of CAC, An Ning, President of the Chinese Community Newspaper, Liu Fuqing, Vice President and Secretary General of the China Charity Alliance (CCA), and Alice Wang, Chief Public Affairs officer of Yum China, attended and witnessed the signing ceremony.
Wei Zhengxin, Secretary General of China Internet Development Foundation (CIDF) and Joey Wat, CEO of Yum China sign the agreement on behalf of both parties.
Since entering China in 1987, Yum China has been committed to the principle of “giving back to society”, actively practicing corporate social responsibility, advocating for healthy lifestyles, and making long-term investments that support poverty alleviation, community care and child and youth development. Yum China has successfully launched a series of impactful initiatives that benefit society and this latest cooperation with the China Network Development Fund will leverage the internet as a platform to encourage multi-party cooperation, strengthen participation and effective interaction online, with the ultimate aim of promoting the development of public welfare on the internet.
Joey Wat, CEO of Yum China, gave a speech during the Online Charity Forum on the theme of “Innovation to Promote the Development of Online Charity and Promote Public Welfare on the Internet”. She said, “At Yum China, we have nearly 9,000 restaurants across China, serving more than 2 billion consumers a year. We also have over 200 million digital members. Yum China’s strong online and offline presence has helped it get closer to consumers and young people, and in doing so helped to cultivate their awareness and enthusiasm for philanthropy. With a focus on integration and innovation, Yum China will continue to utilize its strengths in digitalization and engagement with young people to make more positive impacts to the community and society.”
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China’s leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving innovative Mexican-inspired food. Yum China also owns the Little Sheep, East Dawning and COFFii & JOY concepts outright. The Company had more than 8,700 restaurants in over 1,300 cities at the end of June 2019. In 2019, Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2019 in China by the Top Employers Institute. For more information, please visit http://ir.yumchina.com.
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