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McDonald's affirms confidence in China market

By WANG ZHUOQIONG Updated: 2023-07-14
Consumers try wireless mobile phone charging by riding spin bikes to generate electricity at the McDonald's zero carbon restaurant in the Shougang Park in Beijing. [Photo provided to China Daily]

McDonald's China has said the company's shareholding structure will not change and it is on track to achieve its goal of running 10,000 stores in the Chinese market.

"(The company) is highly confident about long-term sustainable growth in the China market. We will continue to leverage capital and other resources from CITIC (Trustar Capital), Carlyle, and McDonald's Corp to achieve the future milestone of 10,000 stores," the company said in a reply to a query from China Daily. "The company's shareholding structure will not change. All stakeholders are highly aligned on the process."

Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stake in McDonald's Corp in Hong Kong and on the Chinese mainland, Bloomberg News reported.

The move would provide a partial exit for the firms after they bought the business six years ago, according to the report.