McDonald's China counts on developer deals to catch KFC

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.