Coca-Cola has announced plans to invest USD4 billion in China over the next three years to further expand the Chinese market.
This marks Coca-Cola's new investment increase in China following its three-year investment of CNY2 billion announced in 2009. If the investment is completed, Coca-Cola's total investment in China will reach USD9 billion by 2014.
Muhtar Kent, chairman and chief executive officer of Coca-Cola, revealed that the investment will mainly be used for construction of new plants and production lines, development and innovation, as well as marketing.
The Chinese market is reportedly the third largest market for Coca-Cola, following America and Mexico. Kent said the Chinese market has great potential and it will undoubtedly become the largest market for Coca-Cola in the future.
So far, Coca-Cola has 41 bottling plants in China with 48,000 employees and 99% of them are local workers from China. The company's sales in China accounted for 7% of its worldwide sales.