Despite global economic headwinds, China's consumer market demonstrates remarkable vitality, according to Zhang Yichen, CEO of CITIC Capital and chair of McDonald's China master franchise. Speaking to CGTN on March 11, 2026, the Chinese People's Political Consultative Conference member revealed that 3.5 million new restaurants opened across the country last year, with McDonald's alone expanding by nearly 1,000 outlets annually.
"The numbers tell a story of enduring confidence," Zhang stated, emphasizing that consumption patterns are evolving rather than declining. His comments come as analysts worldwide scrutinize Asia's largest economy for signs of post-pandemic recovery.
While online commerce continues to thrive, Zhang identified a critical challenge: "Our focus now is revitalizing physical experiences – the social fabric of dining out and in-person shopping that drives sustained economic growth." This perspective aligns with recent government initiatives to boost domestic demand through urban commercial hub development.
The executive's dual role in financial management and consumer retail lends weight to his analysis, particularly for international investors monitoring Asia's business landscape. With China's middle class projected to reach 65% of the population by 2030, such insights prove valuable for understanding regional economic trajectories.
