肯 (kěn) = willing, 德 (dé) = virtue/Germany, 基 (jī) = foundation. A fun translation: 'willing virtue base' — though it is purely phonetic for 'Kentucky'.
KFC opened its first China outlet at Qianmen, Beijing in November 1987, becoming the first major Western fast-food chain in China. It is now the largest fast-food chain in China by outlets.