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McDonald's has partnered with Sinopec, the second largest oil company in the People's Republic of China, as it takes advantage of the country's growing use of personal vehicles by opening numerous drive-thru restaurants. [187] In Beijing, China, McDonald's restaurants are state-owned enterprises operating according to franchise agreements. [188]
A McDonald's soft drink/ice cream stand in Sanya, Hainan, China in December 2005. The first McDonald's in Mainland China opened in Dongmen, Shenzhen in October 1990. [34] The Extra Value Meal, a burger, fries and drink combination deal, was introduced from 1993, originally as part of a Jurassic Park tie-in. [35]
Pizza Hut and McDonald's [4] were launched in China in September and October 1990, respectively. [5] Three years earlier, KFC was established in mainland China. The first McDonald's in Shenzhen was supplied from Hong Kong from 1990 to 1992. By the time the first McDonald's in Beijing opened in 1992, mainland China had proper infrastructure to ...
HONG KONG/BEIJING/SHANGHAI (Reuters) - CITIC Ltd <0267.HK>, the main listed arm of Chinese state-owned conglomerate CITIC Group, plans to sell a 22% stake in McDonald's Corp's <MCD.N> mainland ...
Over half of the 7,000 additions will be in China, which Kempczinski said could eventually become McDonald’s largest market. At the end of Q3, the chain had 41,198 worldwide locations, with more ...
McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks, Apple, Coach owner Tapestry and sportswear giant Nike, have remained similarly ...
The first McDonald's restaurant was opened in 1940 by Dick and Mac McDonald. However, on 15 April 1955, Ray Kroc launched the first McDonald's in Des Plaines, Illinois, [10] featuring a ten-item menu built around a 15-cent hamburger. Since that time, McDonald's has operated more than 40,000 restaurants worldwide, which has increased over 16 ...
Following his recent presentation at Sanford Bernstein's 2013 Strategic Decisions Conference in New York, McDonald's CEO Donald Thompson was asked about his company's strategy in China, given that ...