In a bid to strengthen its position in China, McDonald’s Corp (NYSE:MCD) is set to open 1,000 new outlets in the country this year. What Happened: The fast-food giant is looking to expand its presence in lower-tier cities, its second-largest market, reported Bloomberg on Tuesday. This move is part of the company’s strategy to tap into new markets as major cities like Beijing and Shanghai become saturated. “We think there’s going to be an opportunity for us to continue to build out development and penetration in that market to many places where we don’t really have McDonald’s presence,” CEO Chr…
