Asia Times Online - News from greater China; Hong Kong and Taiwan

China

McDonald's to shift China HQ from HK to Shanghai

BEIJING - US-based fast food giant, McDonald's will move its China headquarters from Hong Kong to the communist giant's largest city and commercial hub, Shanghai early next year.

The move will help McDonald's strategically expand its fast-growing market in China, general manager of the fast food chain's China headquarters, Eric Foo, was quoted as saying by Xinhua news agency on Tuesday.

He said the move can not only help set up closer relationships with the consumers on the Chinese mainland but also create a closer connection between the headquarters and its local management.

Shanghai's specific geographic location, as well as its status as a financial center and "fashion capital," will also help expand its "brand strategy" and marketing plan across the world's most populous country, he said.

McDonald's opened its first Chinese restaurant in 1990. It now has over 620 restaurants with an investment of 500 million US dollars in China.

The Chinese mainland has become the largest potential market of McDonald's with an annually increasing revenue, Foo said.

(Asia Pulse/PTI)

Dec 15, 2004

No material from Asia Times Online may be republished in any form without written permission.

Privacy and Legal Policies