Minneapolis-based Dairy Queen is opening its 500th location in China after aggressively expanding the franchise throughout the country in the past year.
China offers a "tremendous opportunity to Dairy Queen" because it has one of the most rapidly growing economies in the world, CEO John Gainor told CBS News.
Dairy Queen plans to open 100 more restaurants in China in the next year. 131 new restaurants were added in 2011, Gainor told the Star Tribune.
Gainor attended the grand opening of the 500th store in Shanghai this week. The store is located in the Hu Dong district.
The first Chinese Dairy Queen opened in Beijing in 1991 and China has become the strongest international growth market for the company since then.