CHINA: Coca-Cola Co aims to make China biggest market
The Coca-Cola Co is looking to up its presence in China
A senior Coca-Cola Co executive has said the group wants China to be its biggest market "soon", as it remains committed to major investment plans in the region.
In an interview late last week, Ahmet Bozer, president of Coca-Cola International, said the company is on-course with a US$4bn investment plan, first announced in 2011, according to China Daily. The spend includes opening a new plant in Shijiazhuang, capital of north China's Hebei Province, in October, the paper reported.
Coca-Cola is also moving to develop China's second and third-tier cities and its western areas, Bozer was quoted as saying.
"We want to make China our largest beverage market soon," Bozer said.
In Q1 results last month, Coca-Cola reported that overall volumes in China only rose by 1% year-on-year. However, sparkling beverages saw volumes climb by 8% in the region and juices by 14%.
At the CAGE conference in London in March, a senior Coca-Cola executive said the group was looking forward to "better days" in China, after a "bump in the road" last year.
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