McDonalds to double China restaurants by 2013

BUSINESS NEWSDECEMBER 15, 2010 / 12:48 AM / UPDATED 11 YEARS AGOMcDonald’s to double China restaurants by 2013By Fang Yan, Terril JonesBEIJING (Reuters) – McDonald’s Corp MCD.N plans to double the number of its restaurantsin China to 2,000 by 2013, a senior executive said on Wednesday as it speeds up expansion inthe fastest growing major economy.The top global fast food chain, which opened its first outlet in the southern boom town ofShenzhen 20 years ago, is facing fierce competition with Yum Brands Inc YUM.N, the parent ofPizza Hut and KFC, which has roughly 3,700 outlets in China.But it has been intensifying its input, opening 165 new restaurants in the country this year,with a plan to add up to 200 outlets in 2011.China has been the fastest-growing market for McDonalds worldwide with regard to newrestaurant opening, its , Kenneth Chan, told reporters in Beijing.It took us almost 19 years to reach 1,000 restaurants. We will get our next 1,000 restaurantswithin three years.To help attract more customers, the U.S. fast food giant has also began to update the image ofits outlets, featuring bright, warm colors along with soft, comfortable seating and simple butfashionable interiors.World Business Markets Breakingviews Video MoreFour restaurants in downtown Beijing have gotten a face-lift already, and 80 percent of itsoutlets across China will be upgraded by 2013, Chan said.In addition, half of all new McDonalds restaurants to be opened in the next three years inChina will feature Drive-Thrus to appeal to Chinas increasingly mobile population, he added.McDonalds had in mid-November raised menu prices by 0.5 to 1 yuan, or 8 to 15 cents, inmainland China to offset higher food costs.Chan declined to say whether there would be further price hikes given Chinas rising annualconsumer inflation, which hit a 28-month high of 5.1 percent in November.But he said McDonalds has been offering value meals, such as a 6-yuan breakfast and a 15-yuan lunch, and will continue to do so in the future.Editing by Ken WillsOur Standards: The Thomson Reuters Trust Principles.Apps Newsletters Advertise with Us Advertising Guidelines Cookies Terms of UsePrivacy Do Not Sell My Personal InformationAll quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. 2022 Reuters. All Rights Reserved.

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