American iconic brand McDonald’s wants to take a bigger bite of China. Kenneth Chan, CEO of McDonald's China, shares his recipe for growth amid the country’s tightening policies and increasing competition from rival, Yum! Brands.
Q: What does it take to really crack the Chinese market, in your opinion?
A: I think it is really focusing on long-term strategy. McDonald's is committed and will continue to be committed to that. In the 20 years we've been here, we've actually spent a lot of time building the infrastructure to allow us to grow. Funnily enough, when we were here way back, people criticized or commented on how we wanted to build this state-of-the-art distribution network system and manufacturing plants. Today, I say that's our competitive advantage. It allows us to really grow the business in a safe and efficient manner. At the same time, we've invested in the rest of our systems, operationally and people systems, to allow us to maintain our foundation of the business and grow rapidly.