The Chinese unit of fast food giant McDonald's is changing its name to Golden Arches. “Our restaurant name will remain the same, the change is only at business licence level,” said McDonald's Christopher Cushing, who did not reveal the reason for the name change. This move followed an agreement earlier this year to sell a majority of its China and Hong Kong business to Citic and Carlyle Group, as the owners seek to double outlets in China to 4,500 by 2022. McDonald’s now owns 20% of the business.
The Chinese unit of fast food giant McDonald's is changing its name to Golden Arches. “Our restaurant name will remain the same, the change is only at business licence level,” said McDonald's Regina Hui, who did not reveal the reason for the name change. This move followed an agreement earlier this year to sell a majority of its China and Hong Kong business to Citic and Carlyle Group, as the owners seek to double outlets in China to 4,500 by 2022. McDonald’s now owns 20% of the business.