• About Us
  • Write For Us
  • Advertising
  • Support
  • Contact Us
March 21, 2023 1:23 pm CDT
LISTEN LIVE:
No Result
View All Result
Heartland Newsfeed
ADVERTISEMENT
  • Illinois
    • Local
      • Capital Area
      • East Central Illinois
      • West Central Illinois
    • Regional
      • Chicagoland
      • Metro-East
      • Northern Illinois
      • Quad Cities
      • Southern Illinois
    • Obits
    • Executive Watch
    • Legislative Watch
    • Road Conditions
      • Illinois
    • Weather Closings
      • Central Illinois
  • Missouri
    • Regional
      • Northeastern Missouri
      • East Central Missouri
      • St. Louis Metro
      • Southeast Missouri
    • Executive Watch
    • Legislative Watch
    • Weather Closings
      • Greater STL Metro (IL/MO)
    • Road Conditions
      • Missouri
  • Weather
  • National
  • World
  • Sports
    • Basketball
      • NBA
    • Bowling
    • Boxing
    • Football
      • Arena Football
      • CFL
      • NFL
      • XFL
      • USFL
    • Golf
      • PGA
    • Hockey
      • NAHL
      • NHL
    • MLB
      • MiLB
    • MMA
      • UFC
    • NCAA
      • Basketball
      • Football
    • Olympics
    • Preps
    • Racing
      • Horse Racing
      • NASCAR
    • Soccer/Futbol
      • Bundesliga
      • Champions League
      • FIFA
      • La Liga
      • MLS
      • NWSL
      • Premier League
      • U.S. National Soccer
      • USL
      • USL Championship
    • Tennis
    • Wrestling
      • AEW
      • Independents
      • MLW
      • NJPW
      • NWA
      • ROH
      • WWE
  • Entertainment
    • Crossword
    • News Quiz
  • Opinion
    • Letters To The Editor
    • Editorial
    • Columnists
  • Radio
    • Affiliates
    • Live Video
      • HLNF Live
      • RTMP Direct
    • Network Schedule
    • Network Streams
    • Podcasts
      • Radio Network
      • Podcast Network
  • Features
    • Classifieds
      • Current Ads
      • Job Board
        • Job Listings
        • J2CTalroo
        • Post a Job
        • Receive Alerts
        • ZipSearch
    • Community Calendar
    • News Feeds
      • Statehouse
      • Legislative
      • Breaking News
  • Store
  • Deals
  • Calendar

No products in the cart.

Heartland Newsfeed
No Result
View All Result

McDonald’s plans 2,000 new restaurants in China by 2022

United Press International by United Press International
August 8, 2017 - Updated on August 9, 2017
in Business & Lifestyle, Business News, Financial News, Food & Drink News, Life & Style, World
Reading Time: 2 mins read
Donate
0

OAK BROOK, Ill. (UPI) — McDonald’s announced plans Tuesday to increase the number of restaurants in China from 2,500 to 4,500 within five years.

The company also announced completion of a partnership deal with Citic and Carlyle to sell a controlling interest in the fast-food company’s China and Hong Kong operations for 20 years. That makes it the largest franchise outside the United States.

McDonald’s announced plans Tuesday to open 2,000 new restaurants in China within the next five years. (Photo by Stephen Shaver/UPI)

In January, McDonald’s announced plans to sell 80 percent of its holdings in mainland China and Hong Kong for $1.67 billion to Citic and Carlyle. About 65 percent of McDonald’s restaurants in mainland China are company-owned or operated.

Called Vision 2022, McDonald’s projects 2,000 new Chinese locations in five years, which represents double-digit growth yearly. About 45 percent of the new restaurants will be located in smaller, poorer cities in China and 75 percent will provide take-out and delivery services.

“China will soon become our largest market outside of the United States,” said Steve Easterbrook, McDonald’s president and CEO. “We are excited to join forces with Citic and Carlyle for better localized decision-making to meet changing customer demands in this dynamic market.

“Mainland China and Hong Kong are leading the global system in capturing new consumer trends such as delivery and digitalization and its driving strong performance and growth momentum.”

In 2016, more 1 billion customers visited McDonald’s on the Chinese mainland. But its market share — No. 2 in the nation — has declined to 13 percent. Yum Brands‘ KFC and Pizza Hut is No.1 with 1.6 billion diners.

Last year, Yum! divested its China operations into a separate publicly traded company named Yum China Holdings.

In 1987, KFC became the first U.S.-based fast food chain to open a store in mainland China. McDonald’s opened its first restaurant there in 1993, after first opening a store in Taiwan in 1984.

“[McDonald’s] sold to Citic really out of a position of weakness. You don’t sell your entire China operation in the fastest consumer growing market because you’re doing well,” Shaun Rein, the managing director for Shanghai market consultancy CMR China told Financial Times. “In order for Citic and Carlyle to make money, they need to grow McDonald’s faster.”

Last year, Starbucks announced plans to open more than one new store in China per day for the next five years and reach 5,000 stores by 2021.

McDonald’s is the world’s leading global food service retailer with more than 37,000 locations in more than 100 countries.

Written by UPI writer Allen Cone

United Press International
+ posts

United Press International is an international news agency whose newswires, photo, news film, and audio services provided news material to thousands of newspapers, magazines and radio and television stations for most of the 20th century.

  • United Press International
    https://www.heartlandnewsfeed.com/author/upi/
    Coinbase to lay off more than 900 employees
  • United Press International
    https://www.heartlandnewsfeed.com/author/upi/
    At least 10 injured in Iowa soybean plant explosion
  • United Press International
    https://www.heartlandnewsfeed.com/author/upi/
    Mike Braun files to run for Indiana governor
  • United Press International
    https://www.heartlandnewsfeed.com/author/upi/
    Samsung announces disappointing 3Q results

Share this:

  • Twitter
  • Facebook
  • LinkedIn
  • Reddit
  • Tumblr
  • Telegram
  • Print
  • Email

Like this:

Like Loading...
Tags: 20002022ChinaMcDonald'splansRestaurants
Share196Tweet123Share5Send

Discussion about this post

📻 ON AIR NOW

.
ADVERTISEMENT
  • Five things you should know before purchasing auto insurance

    603 shares
    Share 241 Tweet 151
  • Nokomis council passes dumpster ordinance

    540 shares
    Share 216 Tweet 135
  • Illinois to see two gas hikes in 2023

    536 shares
    Share 214 Tweet 134
  • Viola Armstrong, 92, Pana

    529 shares
    Share 212 Tweet 132
  • Leto Voudrie, 83, Moweaqua

    526 shares
    Share 210 Tweet 132

HOURS AND INFO

800 Capps Ave.
Nokomis, IL 62075-1415
admin@heartlandnewsfeed.com
Online all the time 
Office Hours: 8 AM to 8 PM
Newsroom: (217) 569-4230
Listen Line:
(217) 569-4230 ext. 1
Advertising:
(217) 718-5281
After-Hours:
(217) 565-9709 / (217) 565-9273

Sitemap | Published Press | Privacy Policy
Staff Email | Independent Media

LIVE WEBSITE VIEWERS

.
ADVERTISEMENT

DEADLINES

Daily: 11 p.m. Central
Weekend: 11 p.m. Central
Sports: 11 p.m. Central

Upcoming deadlines
NYE/NYD: December 30, 5 p.m. Central

WEBRINGS

Hotline Webring: Previous — Next

Some rights reserved 2017-2023 by Heartland Newsfeed, a subsidiary partnership by Heartland Internet Media Networks and Heartland Media Group of Central Illinois LLC. Content published by Heartland Newsfeed staff is covered by the BipCot NoGov license. This allows use and re-use by anyone except governments and government agents. License on record. JNews theme designed and developed by Jegtheme.

No Result
View All Result
  • Home
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel

Some rights reserved 2017-2023 by Heartland Newsfeed, a subsidiary partnership by Heartland Internet Media Networks and Heartland Media Group of Central Illinois LLC. Content published by Heartland Newsfeed staff is covered by the BipCot NoGov license. This allows use and re-use by anyone except governments and government agents. License on record. JNews theme designed and developed by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

00:00
00:00
WP Radio
WP Radio
OFFLINE LIVE
%d bloggers like this: