McDonald’s Unveils Plan to Open 2,000 More Stores in China

August 8, 2017, 4:49 AM UTC

McDonald’s (MCD) 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 Ltd (CITIC-GROUP) and the Carlyle Group, it said on Tuesday.

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.