McDonald's China renamed Jingongmen, or Golden Arches

Fast food giant McDonald's China has confirmed that it has changed its company name to Jingongmen, or Golden Arches, reports cqnews.net.

A source with McDonald's confirmed that the company was officially renamed on October 12, citing "business development" as the reason. The name Golden Arches is derived from the shape of the McDonald's logo.

The logo of McDonald's. [File photo: VCG]

It was stated that despite the altered company name, the name of its chain restaurants will not be changed and its daily business would not be affected.

Earlier this year, China International Trust and Investment Corporation Ltd (CITIC Ltd), CITIC Capital Holdings Ltd, and Carlyle Group arrived at an agreement to establish a new company, which became McDonald's largest-scaled franchised dealer overseas.

The change of McDonald's company name is being hailed as an asset restructuring, but it won't impact its brand, an industry insider explained.