Yum China and Shaanxi Provincial Government Sign Strategic Cooperation Framework Agreement PDF Version 09/26/2019 at 7:00 AM EDT Yum China plans to leverage the location and resource strengths of Shaanxi and strengthen Xi'an as its regional headquarters for Northwest China SHANGHAI, Sept. 26, 2019 /PRNewswire/ -- Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE:YUMC) signed a strategic cooperation framework agreement with the Shaanxi provincial government in Xi'an on September 25, 2019. This agreement consolidates the joint commitment of both parties to leverage their respective advantages to comprehensively deepen their cooperation. Liu Guozhong, Governor of Shaanxi province, met with Fred Hu, Chairman of Yum China, and Joey Wat, CEO of Yum China, as well as a delegation from Yum China's Board of Directors and leadership team. Jia Feng, Deputy Secretary-General of Shaanxi provincial government, and Joey Wat signed the strategic cooperation framework agreement on behalf of both parties. Yum China has been active in Shaanxi since opening its first KFC store in Xi'an in 1993, followed by the establishment of its Xi'an Customer Service Center in 2005. This cooperation will help Yum China further benefit from the location and resource strengths of Shaanxi as it seeks to expand its presence in the province and enhance the role of Xi'an as its regional headquarters for Northwest China. It will also combine the huge consumer base of Yum China with the unique assets of Shaanxi to support the economic development of the province. As part of the agreement, Yum China will bolster its fast-growing digital business by upgrading its Xi'an Customer Service Center to a Digital Service Center that will contribute to building Shaanxi's digital economy. In addition, Yum China will open more stores at prominent locations across Shaanxi, including new builds at historic and cultural sites, and introduce new and innovative business models, store concepts and services to the province. Yum China plans to leverage its expertise in supply chain management and cold-chain logistics to support the development of local businesses in Shaanxi and promote the sustainable growth of the local economy. Yum China also plans to introduce its signature Corporate Social Responsibility ("CSR") and sustainability programs to Shaanxi. These include the One Yuan Donation program, that provides energy-efficient kitchen equipment to elementary schools in rural areas, and the "Grow Local Initiative", that supports targeted poverty alleviation and the cultivation and commercialization of local agricultural products. 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In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K) for additional detail about factors that could affect our financial and other results. 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. Investor Relations Contact: Tel: +86 21 2407 7556IR@YumChina.com Media Contact: Tel: +86 21 2407 7510Media@YumChina.com View original content to download multimedia:http://www.prnewswire.com/news-releases/yum-china-and-shaanxi-provincial-government-sign-strategic-cooperation-framework-agreement-300925992.html SOURCE Yum China Holdings, Inc.