McDonald’s Corp. the world’s largest fast-food chain, plans to open 150 outlets in China in 2009, the company’s top China executive said on Tuesday, as competition heats up in the rapidly expanding market.
The company expects to maintain 15 percent annual growth for the next few years, said Jeff Schwartz, China chief executive.
“In 2008 we will open a minimum of 125 stores, and we are thinking about 150 in 2009 and continue to ramp that up a little bit,” Schwartz said.
The firm plans to spend $2 billion on capital expenditures in 2008, and sell up to 21 percent of its company-owned restaurants to franchisees over the next few years to focus more resources into fast-growing markets such as China, Russia and India.
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