McDonald's is raising the price of a Big Mac in China by 1 yuan (US$0.17). (Photo/CNS)
Global fast-food chain McDonald's has raised the prices on some of its menu items, the Beijing News reports.
"The prices increases became effective Jan. 12," a spokesman for McDonald's said. "The increases range between 0.5-2 yuan (US$0.08-$0.32)."
Beijing News said that the price for a Big Mac jumped from 17.5 yuan (US$2.77) to 18.5 yuan (US$2.93), while a McChicken sandwich will now cost eight yuan (US$1.23), up from seven yuan (US$1.11). It is the sixth time McDonald's has raised its prices since 2010.
KFC, McDonald's major competitor in China, said it has no plans to raise its prices after a hike last October.
Hu Maoyuan is CEO of SAIC Motor Corporation and also the party secretary of the state-run automaker. He was named one of the China Economic Leaders of the Year by state broadcaster CCTV in 2004. ...