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Xi’s bun meal boosts Quanjude
Print Edition
Shares of China Quanjude (Group) Co, the country’s oldest Peking duck restaurant chain, soared yesterday as investors speculated the company may have a stake in Qingfeng buns shop where President Xi Jinping ate a simple lunch of stuffed buns on Saturday.
Shenzhen-listed Quanjude ended 4.8 percent higher at 19.76 yuan yesterday, paring earlier gains of as much as the 10-percent daily limit.
The shares surged on speculation that Qingfeng buns shop, a chain of steamed bun restaurants in Beijing, may be owned by Jude-Huatian Holding Co Ltd, in which Quanjude has a 30.9 percent stake.
But the steamed bun chain has no link with Quanjude, Instead it belongs to Beijing Huatian Restaurant (Group) Co, which also has an equal stake in Jude-Huatian.
In September, shares of Fuling Zhacai Group soared after Xi ate zhacai, made from the root of the mustard plant, with a bowl of porridge on his plane during a tour of Central Asia.
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