Publish date:

McDonald's Seeks More China Stores: Report

The fast-food chain plans to open about 500 stores in China in three years, a senior executive said, according to a report.
Author:

McDonald's

(MCD) - Get McDonald's Corporation (MCD) Report

plans to open about 500 stores in China in three years, a senior executive told

Reuters

on Wednesday.

The fast-food chain's China operations haven't been affected by the fallout from the global financial crisis which has hit consumer spending as it has taken steps to retain customers, said Brian Durkin, vice president of development,

TheStreet Recommends

Reuters

reports.

Last week, McDonald's posted a better-than-expected 7.1% worldwide increase in same-store sales for January.

"We are not recession proof, but we are certainly recession resistant," said Durkin.

In 2008, McDonald's opened 146 restaurants in China, one of its fastest growing markets, increasing the number of outlets to 2,012 by the end of the year, out of more than 30,000 worldwide, according to Reuters.

This article was written by a staff member of TheStreet.com.