business

McDonald’s to invest heavily in Chinese coffee market

SHANGHAI, Nov. 17 (Xinhua) — McDonald’s coffee brand McCafe has announced a plan in Shanghai to invest 2.5 billion yuan (about 381.6 million U.S. dollars) in its coffee market in China in the next three years.

The investment will go into opening new coffee shops inside McDonald’s restaurants, upgrading equipment and providing professional training to cope with the country’s growing demand for coffee, said Phyllis Cheung, CEO of McDonald’s China.

McCafe aims to cover all McDonald’s restaurants in Beijing, Shanghai, Guangzhou and Shenzhen by the end of the year, before expanding its business in seven other cities, including Nanjing, Hangzhou and Xiamen.

By 2023, the company expects to run more than 4,000 McCafe outlets on the Chinese mainland.

McDonald’s entered the Chinese mainland market in 1990 and is currently operating more than 3,600 restaurants across the country. China is now McDonald’s second-largest market in the world.

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