A steamed bun brand that originated in Hangzhou, Zhejiang province, is preparing to go international, opening its first overseas location. GanQiShi Bao Bao is well known for its delicious fist-sized handmade steamed buns, or baozi, which are stuffed with shredded meat, vegetables or sweet fillings. In May [2016], the company will open its first US outlet in Harvard Square, the historic center of Cambridge, Massachusetts that is close to top educational institutions such as Harvard University and the Massachusetts Institute of Technology in Boston…Full Article: China Daily Mar 2016

Key Point

  • Founded in 2009, GanQiShi had approximately 200 stores located across Hangzhou and Shanghai as of early 2016. In 2013, the restaurant chain received a private equity investment of CNY 80 million [~US$12.6 million].

ChinaAg Comment

  • In August 2013, Hangzhou Ganqishi Restaurant received a CNY 80 million investment from Tiantu Capital, a private equity firm based in Shenzhen. At the time, Hangzhou Ganqishi Restaurant had approximately 150 stores.

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