Starbucks says no plans to hike prices in China

In relation to increasing prices, Wang Jinlong, president of Starbucks Greater China, said: "We increased our prices in China last year due to higher costs. Though we are still facing cost pressures, we have no plan now to raise prices further." Mr Jinlong said that the coffee chain currently has more than 300 outlets in China. The company has been adding a minimum of 80 stores each year. However, Mr Jinlong maintained that the expansion rate would be faster in 2008. Starbucks also intends to branch out into more second-tier cities. The coffee company expects China to eventually become its biggest overseas market.