Yum China has completed its separation from Yum! Brands, and been listed on the New York Stock Exchange (NYSE) on Nov. 1, the firm said.

The newly minted business, which owns KFC, Pizza Hut, East Drawing and Little Sheep hot pot in China, will open 20,000 new restaurants in the next 10 to 20 years, expanding nationwide, according to Yum China chief executive officer Micky Pant. Yum China will hand 3 percent of its net sales over to Yum! Brands as a franchise licensing fee.

For the next phase of its expansion, Yum China will place emphasis on Little Sheep and Taco Bell. By the year's end, Taco Bell is expected to open its first restaurant in Shanghai, and Little Sheep will open 40 new stores.

Pant said that Yum China will focus on building its own stores rather than additional franchise partners in order to maximize returns.