Mixue Bingcheng, a budget-friendly bubble tea brand, now operates more outlets than McDonald’s or Starbucks worldwide.

It sells ice cream and sugary drinks for under $1. Its mascot looks like the love child of Frosty the Snowman and the Michelin Man. And its stores relentlessly blare a jingle set to the tune of “Oh! Susanna.

When you think about the most famous fast food chains in the world, companies like McDonald’s, Burger King, and Starbucks will likely spring to mind. But you might be surprised to learn that none of these are actually the world’s biggest chain.

China's Mixue Ice Cream and Tea has become the world’s biggest food-and-beverage chain in terms of the number of locations, topping McDonald’s and Starbucks. With the name pronounced as “ME-schway,” the company's 45,