McDonald's to open 2,000 more China stores by end-2022

Industries Reuters

(Reuters)

McDonald's will increase its number of stores in mainland China to 4,500 by the end of 2022, up from 2,500 currently, as part of a strategic partnership with Citic and the Carlyle Group, it said on Tuesday.

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The global fast-food chain said it aimed to achieve double-digit sales growth in mainland China every year for the next five years.

McDonald's completed a deal at the end of July giving Citic a controlling interest in its mainland China and Hong Kong businesses.

 

(Reporting by David Stanway; Editing by Gopakumar Warrier)