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McDonald's China Counts on Property-Developer Deals to Catch KFC

  • Fast-food chain pursues tie-ups with Vanke, China Overseas
  • Deals to help secure best locations for new fast-food stores
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Zhang Yichen, McDonald's China chairman, discusses the fast-food chain's strategy and growth prospects in China with Bloomberg's Shery Ahn and Betty Liu on 'Bloomberg Daybreak: Asia.' (Source: Bloomberg) (Corrects guest's title in headline and description.)

The new owners of McDonald’s China are sealing deals with the country’s biggest property developers to secure the best store locations in a bid to catch up with the rival KFC franchise.

McDonald’s China Co., whose investors include state-backed Citic Ltd. and Citic Capital Partners, has signed a strategic alliance with China Evergrande Group to get the first look at locations in 250 cities, Zhang Yichen, chairman of the Chinese franchisee, said in an interview with Bloomberg News. The company is in the midst of negotiating similar agreements with China Vanke Co. and China Overseas Land & Investment Ltd., said Zhang.