SHANGHAI – McDonald’s inaugurated its first Hamburger University in China yesterday to train new generations of managers as foreign companies step up efforts to develop and keep Chinese talent.
China is McDonald’s Inc.’s fastest-growing global market, said Tim Fenton, the company’s president for Asia, Pacific, Middle East and Africa. He said the country’s US$300 billion-a-year ‘informal eating out’ market is expanding at an annual rate of ten per cent, compared with two to three per cent in the United States. Shanghai’s US$250 million Hamburger U., the company’s seventh worldwide, has a statue of company symbol Ronald McDonald but will not teach how to make hamburgers and fries. The emphasis is on running businesses better. McDonald’s, based in Oak Brook, Illinois, has more than 60 000 employees in more than 1 100 restaurants in mainland China after 20 years in the country and plans to expand to 2 000 outlets in three to five years. – Nampa-AP
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