Image: McDonalds Image: McDonalds

McDonalds has announced plans to open 1,250 new restaurants in China over the next five years as part of wider plans to target high-growth markets.

The fast food giant already has 2,200 outlets in China, but with high-growth markets accounting for nearly a quarter of its total sales last year, McDonalds wants to expand its global sales.

It will also open 250 new restaurants in South Korea and Hong Kong over the same period.

In the long-term McDonalds says around 95% of its stores around the world will be franchised.

McDonalds chief executive Steve Easterbrook said: "We're in the midst of transforming our business and taking a strategic and thoughtful approach to enhance our ability to grow around the world.

"These actions build on our turnaround efforts and will advance local ownership, enable faster decision-making and achieve restaurant growth."