McDonald’s to Start Franchising in China
From Bloomberg News
McDonald’s Corp. received government approval to start franchising its fast-food restaurants in China, said Peter Tan, the head of McDonald’s China business.
The world’s largest restaurant chain owns and runs all of its 595 outlets in China and plans to add as many as 120 a year, Tan said.
Tan said China’s Commerce Ministry gave McDonald’s oral approval this year to start franchising, without giving details. He said the firm expected formal approval by year-end.
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