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Shanghai: McDonald’s Corp. will increase its number of stores in mainland China to 4,500 by the end of 2022, up from 2,500 currently, as part of a strategic partnership with Citic Ltd and the Carlyle Group , it said on Tuesday.

The global fast-food chain said it aimed to achieve double-digit sales growth in mainland China every year for the next five years.

McDonald’s completed a deal at the end of July giving Citic a controlling interest in its mainland China and Hong Kong businesses. Reuters

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