The Seattle coffee chain on Wednesday announced plans to build nearly 3,000 new stores in mainland China over the next few years. That means opening 600 new Starbucks a year in China -- or one every 15 hours -- a significant increase on the company's earlier goal of around 500 a year. Starbucks is pushing "a coffee culture in China where the reward will be healthy, long-term, profitable growth for decades to come," CEO Kevin Johnson said in a statement. It's bringing a new line of pre-made cold tea and coffee to China next month. Revenue in China and the Asia-Pacific region jumped 54% last quarter compared with the same period a year earlier, according to Starbucks' latest earnings report.

Source: CNN May 16, 2018 05:15 UTC