November 14, 2008 / 11:47 AM / 12 years ago

McDonald's opens 1,000th China store

BEIJING (Reuters) - McDonald’s Corp (MCD.N), the world’s largest fast-food chain, said on Friday it had opened its 1,000th store in China in the southern province of Guangdong, and planned to open another 175 stores in the country in 2009.

China is the second-fastest market in the world to open 1,000 McDonald’s restaurants, and the company would accelerate its expansion going forward, it said in a statement.

“McDonald’s will be continuing to invest and build in China at an ever increasing rate,” president of McDonald’s Asia, Pacific, Middle East and Africa, Timothy Fenton said in the statement, without elaborating.

Last month McDonald’s earnings results showed it growing faster than rivals as customers looked for low-priced fare amid the global economic crisis.

The company, which has more than 31,000 restaurants in more than 100 countries posted a quarterly profit that beat Wall Street estimates, helped by a 7 percent jump in global sales.

($1=6.83 yuan)

Reporting by Kirby Chien; Editing by Lincoln Feast

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