McDonald's Accelerates Expansion in China Despite Slowdown
In contrast to some Western companies retreating from China, McDonald's plans to aggressively [expand its presence](https://www.semafor.com/newsletter/02/07/2024/semafor-flagship?utm_source=nowshare&utm_medium=flagship&utm_campaign=flagshipnumbered6#g) by opening 1,000 new outlets, mainly targeting lower-tier cities outside the major metropolitan areas. This move comes despite China's economic slowdown and the increasing price-sensitivity among consumers. The expansion faces stiff competition from rivals like Yum China, the owner of Pizza Hut and KFC brands. McDonald's already operates 4,978 restaurants in China.