Alibaba chief sees tasty opportunities in fast food

It is an inspiring story for many netizens in China. Many years ago, Jack Ma, head of the Alibaba Group, was rejected by KFC when he applied for a job with the fast food chain.

Now the internet tycoon's payment unit is investing in the fast food chains' China business to help more customers use the mobile payment system at Yum! Brands Inc's 7,200 restaurants across the country, which also include Pizza Hut and Taco Bell.

"The investment is of a strategic nature," said Jason Yu, general manager of Kantar Worldpanel China. After all, the two Chinese investors' combined shares are less than 5 percent of the total holdings of Yum China.