Fast-food chain McDonald's Corp may introduce strategic investors as it seeks to accelerate its localization in the Chinese mainland, a fast-growing and highly competitive market.
McDonald's said Thursday that its management is assessing this strategy and will announce specific developments as they occur.
"The investors are not necessarily from the food industry, but they must have high credibility, a solid financial performance and in-depth understanding of the mainland market," the company told the Global Times Thursday.
"This move will hasten McDonald's expansion and localization in the mainland to help the company meet the requirements of a fast-changing market," said Guo Huiyong, an industry analyst at a State-owned food production giant.
"McDonald's still has fewer stores in the mainland than its competitors, "Guo told the Global Times on Thursday. "And Chinese consumers' tastes are becoming increasingly diversified."
McDonald's had more than 2,200 restaurants in the mainland at the end of 2015, and it plans to open around 250 new ones, according to its website.
McDonald's plans to reduce the number of directly operated restaurants and increase the number of those operating as franchises, according to a note the company sent to the Global Times on Thursday.
This strategy will "enhance decision-making efficiency so as to boost the company's growth," McDonald's said in the note.
The company has already taken some steps toward localization. It began to sell porridge and steamed bread, traditional Chinese dishes, in its mainland restaurants as of February 24.
Other international fast-food giants have also been pursuing localization. For example, KFC began to offer Chinese dishes such as soybean milk, deep-fried dough sticks, porridge and rice several years ago.
