According to reports in Reuters, the U.S. fast-food chain Subway plans to expand the number of its restaurants in China and aims to exceed the total number of McDonald's outlets in China in ten years.
Fred DeLuca, the president of Subway, said that China has great growth potential and the company plans to have 500 restaurants in the market in the next five years, including 35 to 50 new restaurants to be opened this year.
DeLuca said if the company achieves this goal, they may be able to match McDonald's in ten years. In addition, the sandwich chain plans to focus on second-tier cities and may cut prices to attract more consumers.
At present, Subway only has 150 chain restaurants in China, accounting for 0.5% of its total outlets around the world. In 2009, Subway gained sales of USD13.8 billion worldwide, with China contributing a tiny portion.