Yum China Holdings, operator of KFC and Pizza Hut restaurant chains across mainland China and Hong Kong, plans to ramp up expansion into more lower-tier cities based on its flexible store formats, expecting this push to generate higher returns for the company over the next five years. At the company’s Investor Day conference in Shenzhen on Monday, CEO Joey Wat said Yum China’s total number of outlets would increase to 30,000 by 2030, 76 per cent more than the firm’s estimated 17,000 outlets by...