McDonald's to double China restaurants by 2013
The top global fast food chain, which opened its first outlet in the southern boom town of Shenzhen 20 years ago, is facing fierce competition with Yum Brands Inc (YUM.N), the parent of Pizza 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 McDonald's worldwide with regard to new restaurant opening," its China chief executive, Kenneth Chan, told reporters in Beijing.
"It took us almost 19 years to reach 1,000 restaurants. We will get our next 1,000 restaurants within three years.
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