McDonald's to Expand Dramatically in China

McDonald's, the ubiquitous fast food chain, plans to add more than 1,000 restaurants in China over the next five years, which would make it the company's second-largest market after the United States.

The company already operates more than 2,200 outlets and said it would open 250 restaurants per year in China.

McDonald's said it would add another 250 outlets in Hong Kong and South Korea over the same period and was seeking franchise partners in the all three markets, where it now has more than 2,800 restaurants.

The fast food company has been focusing on so-called “high-growth” markets such as China, Hong Kong, South Korea, and Russia, which accounted for nearly a quarter of McDonald's total sales in 2015.

Fast food outlets took a hit in 2014 after after Chinese regulators launched a probe into a local meat supplier for allegedly mixing meat beyond its expiration date with fresh meat.