Fast food behemoth eyes big expansion

US fast food giant McDonald's plans to open more than one restaurant every day in China over the next five years to attain its goal of having 4,500 restaurants in the country by 2022, according to a top official.

The restaurant chain, which has about 2,500 outlets in the country, will become more agile and flexible to fulfill the growth potential that exists in smaller cities on the mainland, said Phyllis Cheung, CEO of McDonald's China Co Ltd.

Cheung's comments came on Tuesday at the McBanquet, an annual event that showcases the company's innovation in products and services and the steps taken to ensure food safety.