McDonald's China counts on developer deals to catch KFC
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Shanghai
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 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.
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