Beijing, Dec. 28 — Fast-food restaurant chain McDonald’s is considering selling its China franchise either to the Chinese state-owned financial conglomerate CITIC or the American investment fund Carlyle, official newspaper China Daily reported Wednesday.

McDonald’s operates more than 2,200 establishments in China and Hong Kong, valued at around $2 billion, according to the newspaper, which provided no details on the bids submitted by potential buyers.

The fast-food multinational has not yet confirmed that it is considering the two offers, but earlier announced that it would only reveal details of the sale once it was completed.

Other Chinese companies that have shown interest in the purchase include Beijing Tourism and Sanpower.

A researcher from the China Brand Research Institute, Zhu Danpeng, told the newspaper that “the potential purchase by CITIC and Carlyle is a positive incentive for McDonald’s”.

“The acquisition would greatly assist McDonald’s expansion in third- and fourth-tier cities in China, and boost its localization strategies,” Zhu added.

Since it entered the Chinese market in 1990, “Maidanglao”, as McDonald’s is known in China, is one of most established Western food chains in the country and has plans to open 1,300 new stores in the next five years.

The possible sale would follow the trend of other large multinationals, such as Coca-Cola, of selling their operations in several countries to detach from their day-to-day operations and be able to focus on key issues including marketing and global branding.