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McDonald's Announces the Opening of Two Thousand Chinese Branches in Five Years VOA Chinese Network (VOA)
After Starbucks Coffee has decided to double its expansion in China, McDonald's also announced this week its intention to open 2,000 stores in five years, before becoming the largest McDonald's market in outside the United States. After Starbucks Coffee has decided to double its expansion in China, McDonald's also announced this week its intention to open 2,000 stores in five years, before becoming the largest McDonald's market in outside the United States. Starbucks Coffee has announced in recent months that it would double its chain stores in China, while investing $ 1.3 billion in China to acquire shares in joint ventures. McDonald's said the company was planning to expand its stores in mainland China from 2,500 to 2,500 by 2022. Earlier this year, McDonald's announced it had sold the company's main store. core business in China and Hong Kong, retaining only 20% of its shares, the remaining 52% being held by the CITIC group and 28% by the Carlyle group. According to McDonald's, 45% of the restaurants will be located in smaller cities such as Shantou and Shijiazhuang and 75% of the restaurants will offer takeaway. The development trends of Starbucks and McDonald's reflect the bottleneck of US companies in the domestic market, which are trying to take a share of the vast Chinese market and open up new growth. According to the Starbucks plan, the number of stores in China will more than double by 2021 and is expected to reach 5,000 stores. However, not all US foodservice companies in China are able to function smoothly: KFC's parent company and the parent company of Pizza Hut, the parent company of the restaurant, have split their business into independent businesses after being unable to to reverse the decline in sales. McDonald's has more than 37,000 stores in more than 100 countries, of which approximately 90% are owned and operated by local independent companies. There are more than 14,000 American stores. McDonald's is headquartered in Oak Brook, near Chicago, Illinois, United States.
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