McDonald's China changes name to Jin Gong Men Co, plans to double stores

McDonald’s China has changed its official name to Jin Gong Men Co, which roughly translates to Golden Arches.

The official English version of the name according to Reuters is “Golden Arches (China) Co Ltd.” This has changed from a transliteration of the brand name.

The move comes after CITC Capital (China International Trust Investment Corporation) and Carlyle Group took over the 20-year Chinese franchise for McDonalds back in 2016 for $2.08bn.

Currently, CITC holds 52% of shares while Carlyle holds 28%.

See also: 

China airlines offers first non-stop flight to Taiwan 

China's box office to hit $8.31bn

Latest edition of Business Review Asia - out today! 

The company has cited business development reasons for the change, saying that daily operations such as food safety and operational processed will be unchanged, as will the name and branding of the actual stores.

Records show the name changed on 12th October, and that Jin Gong Men Management CO joined as a new investor on August 24th, while McDonald’s China dropped out.

The business has said it plans to almost double the number of stores it has in mainland China top a target of 4,500 by 2022.

Regina Hui, a spokesperson, old Reuters: “Our restaurant name will remain the same – the change is only at business level.”



Featured Articles

Top 10 best-performing Australian companies: mines to banks

Among Australia’s largest companies by market cap are the country’s Big Four banks, a tech startup that successfully scaled, and two firms with female CEOs

Top 10 richest Southeast Asia: how they made their fortunes

From Singapore’s paint tycoon to Malaysia’s sugar king, we round up the 10 richest people in Southeast Asia – and investigate how they made their billions

Will moonlighting ever become accepted practice in India?

While not a new phenomenon, moonlighting has become a hot button issue across India with IT majors cracking down on it. Will the practice ever be accepted?

New YouTube CEO Neal Mohan joins surge of Indian-origin CEOs

Leadership & Strategy

Ex Infosys President Ravi Kumar is the CEO Cognizant needs

Leadership & Strategy

How India is bucking the global dealmaking downturn

Corporate Finance