McDonald's Growth Promotes China's Agribusiness

McDonald's has invested ¥7 billion ($1 = ¥6.6) in China over the past 20 years and is planning to run 2,000 restaurants in the country by 2013, said Luan Jianghong, vice president of McDonald's China. The fast food giant has established 1,100 stores creating some 60,000 jobs across China, and purchased a total ¥15 billion of raw materials from local markets over the past five years, according to Luan. International fast food companies have helped boost China's agricultural capacity by bringing raw materials and technology which China had lacked in the past, according to experts. McDonald's Chinese suppliers exported ¥370 million worth of materials to its restaurants outside China.