McDonald's bullish on China growth prospects as it boosts stake in local business

Since 2017, the number of McDonald's stores in China has doubled to 5,500 and the country has become its second-largest market

McDonald's said it had struck a deal to ramp up its stake in its China business to just under 50%.

McDonald's said it had struck a deal to ramp up its stake in its China business to just under 50%, expressing confidence in the burger chain's growth prospects in the world's second-largest economy.

The move contrasts sharply with the prevailing trend of multinational corporations reeling back investments in China or even exiting the market altogether due to geopolitical and economic challenges.