A Fast-Food Chain Has Dethroned McDonald's

Sorry, McDonald's, you're not No. 1. China's Mixue is the largest fast-food chain in the world, the Wall Street Journal reports. The ice cream and bubble tea chain has more than 45,000 stores across a dozen countries, compared to more than 43,000 McDonald's locations and 40,576 Starbucks locations, the BBC reports. It has a limited menu of treats, most of which are sold for less than $1, and amid China's economic slump, that makes it very popular with consumers. It just went public, raising more than $400 million in its IPO as it started trading on the Hong Kong Stock Exchange on Monday. (More fast food stories.)