Soy sauce chicken wings and sushirritos — a hybrid between rice rolls and burritos — are dishes that help make KFC the most popular fast-food chain in China. The New York-listed operator of China’s KFC, Pizza Hut and Taco Bell stores has become the latest to seek a listing in Hong Kong amid moves to push Chinese companies out of US markets.

Yum China will sound out banks for a secondary offering which could be worth up to $2bn. Its dominant position in the Chinese market — with KFC’s market share alone at over 11 per cent, nearly double that of McDonald's — has given it a market value of $18bn.

Most stores have reopened since earlier lockdowns. New plans for growth, including vegetarian options using Cargill and Beyond Meat products are under way. Its share price has gained over 15 per cent in the past year.