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McDonald's Increases Minority Stake in China Business
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McDonald's is increasing its minority stake in its China business from 20% to 48%. The company doubled its footprint in China to over 5,500 restaurants, making it the second-largest market by number of locations. However, sales in China have declined since the Covid pandemic began, accounting for about 4% of the chain's total revenue.
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How has the Covid pandemic affected McDonald's sales in China?
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