(Yicai Global) Sept. 27 -- McDonald's China entered into a strategic agreement with China Overseas Land & Investment Ltd. [HK:0688] (COLI) on Monday, declaring that it will roll out its next-generation restaurants in shopping complexes, community business centers and office buildings managed by the latter in more than 60 major Chinese cities.

The Chinese arm of America's biggest fast-food brand aims to open 2,000 stores in mainland China in the next five years, and increase the number of new stores it opens annually from 250 this year to about 500 in 2020, the company said at a national staff conference last month. Some 45 percent of its mainland restaurants will be in third- and fourth-tier cities by 2020. 

It will achieve these targets through collaboration with real estate developers.

McDonald's China has closed deals with three property firms over the past couple months -- COLI, China Evergrande [HK:3333] and Country Garden Holdings Ltd. [HK:2007]. All of them agreed to allow McDonald's to open stores in their property developments in China and to provide property management support.