McDonalds has a big appetite for China

BEIJING - Two decades ago, McDonald's was largely unknown here, except as a symbol of the decadent west. But a capitalist revolution has swept through the People's Republic. And today mainland China, still officially Communist, is home to 800 McDonald's restaurants — with 200 more in Hong Kong.

Jeff Schwartz, CEO of McDonald's China, says that’s just the beginning.

“I just look at China's 1.3 billion population,” he said. “U.S. (population) 300 million, 13,000 restaurants. China (population) 1.3 billion and 800 restaurants. Easily we're talking 10,000 to 5,000 restaurants as it continues to develop. So the opportunity is endless.”