Yum China's Secondary Listing in Hong Kong - Joseph Chan, Yum China

China Law Podcast

With more than 10,000 restaurants in over 1,500 cities in China, Yum China is the biggest restaurant company in China, owning some of the most popular fast-food brands in the country including KFC and Pizza Hut. In 2020, it became the first restaurant company and the first non-TMT company to have a secondary listing in Hong Kong.

Joseph Chan, Yum China’s Shanghai-based chief legal officer, discusses how the Hong Kong secondary listing was secured, navigating stricter compliance and disclosure requirements as a U.S. domestic issuer, and more. Read the full transcript of the interview here.

The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at [e-mail] with any feedback and ideas for future episodes.

Episode Outline

• 01:06 CLO's main responsibilities and regulatory areas
• 04:29 Experience in private practice and relevance today
• 06:30 Challenges of secondary listing as a U.S. domestic issuer
• 09:56 Convincing HKEX that Yum China is an "innovative" company
• 12:55 Legal compliance work in a fast-paced environment
• 15:08 Importance of cybersecurity and data privacy
• 16:48 COVID-19 lessons

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