McDonald's Opens 20 Restaurants in Chongqing
U.S. fast food chain McDonald's said it plans to add 20 restaurants in Chongqing, media quotes Lin Wenke, Vice President of McDonald's China. The company will invest RMB100m over the next three years to meet the growing demand in the fast-growing western city municipality. The chain celebrates its 18th anniversary in China this year and currently operates 900 restaurants across China. There are only 40 McDonald's restaurants in Chongqing and the surrounding Sichuan province.
China Southern Cuts Salaries
China Southern Airlines is cutting salaries for its management and will
reduce infrastructure spending to save RMB1.3 bn this year, the South
China Morning Post reports. The management will have to accept a 10 per
cent cut. A spokesperson said the "payroll of the company can be trimmed down by no more than RMB100m".
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