Retailing, Franchising, and Consumerism Business Intelligence in China

McDonald's Plans To Open 123 New Restaurants In China

McDonald's plans to spend US$2 billion in its 2008 financial year and most of the funds will be used to expand its overseas market. The company plans to open at least 125 new restaurants in China.

It is reported in local media that in the 2008 financial year, McDonald's will arrange US$2 billion for its world development plan. Most of the funds will be used in the overseas market, because the company is considering to reduce the scale of its domestic investment.

The fast food company said in an investor conference that by the end of next financial year, its stockholders' profit is expected to reach US$15 billion to US$17 billion.

Pete Bensen, the new CFO of McDonald's said n New York that half of the company's budget for 2008 will be used to open about 1,000 new restaurants. The leftover part will be used to renovate its 1,600 existing restaurants. Last year, McDonald's opened 800 new restaurants around the world.

In McDonald's expansion plan, the company intends to open 125 new restaurants in China and to open 35-40 new restaurants in Russia.

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