McDonald's licensed for expansion

China Daily, September 26, 2011

Unlike McDonald's, KFC offers a range of Chinese-style fast foods, such as porridge and soup, to adapt to the tastes of local consumers. In 2007, McDonald's started launching its franchise business in Shenyang, in Northeast China's Liaoning province, Wuxi, in East China's Jiangsu province, and Yiwu, in East China's Zhejiang province, saying the company was "confident about the market's future".

Individuals, who have to put forward at least 2 million yuan ($313,000) to cover the purchase of equipment, a joining fee and other expenses, may apply to open a McDonald's franchise after specific training. According to Euromonitor International, sales at all of China's fast food chains rose 12 percent last year to 60 billion yuan. Yum! led the market with a 40 percent share, compared with 16 percent for McDonald's, the London based researcher said.

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