McDonald’s China Rolls Back Prices
February 6th, 2009 at 4:23 pm - by admin
McDonald’s indicated Thursday that the global economic slowdown has hit the Chinese economy, saying that prices would be cut immediately by up to 33 per cent.
Residents of China are now seeing a promotional campaign from the multinational fast food company which advertise four of McDonald’s combo meals: the Filet-O-Fish, chicken filet, pork burger and double cheeseburger combos, to be priced at just 16.50 yuan; about $3 Canadian.
McDonald’s ran the promotion as being “in line” with political efforts to stimulate domestic interest in the country and rebuild the economy from “within the restaurant sector.”
KFC and other fast food companies have reportedly launched similar promotions in the country, based on expectations of greatly reduced growth (Standard and Poor’s expects 6.5 per cent this year, down from nearly 9 per cent the year before) and reduced consumer price inflation (down to a rate of about 2 per cent, from nearly 6 per cent in 2008).
