McDonald's pursues huge China expansion

McDonald's said today its plan to open 100 new restaurants in China each year is on track despite shutting branches and cutting…

McDonald's said today its plan to open 100 new restaurants in China each year is on track despite shutting branches and cutting jobs in other parts of the world.

"There has been no effect on our business," a spokesman at McDonald's Beijing office when asked about an announcement last week that the burger chain would close 175 outlets and cut 400 to 600 jobs worldwide.

From 184 stores in mainland China five years ago, there are now more than 500 serving burgers, shakes and fries to one of the world's fastest growing economies.

Competition is also fierce. The Golden Arches often battle side by side with KFC's Colonel Sanders, which also runs hundreds of outlets in China.