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Xi urges Starbucks to promote China-US economic cooperation

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Chinese President Xi Jinping responded to Howard Schultz, Chairman Emeritus of Starbucks, encouraging him and the company to play a positive role in promoting China-US economic and trade cooperation and bilateral ties.

Xi pointed out in the letter that under the leadership of the Communist Party of China (CCP), 1.4 billion Chinese have made long-term and arduous efforts to complete the construction of a moderately prosperous society in all respects and achieve the socialist modernization.

China will embark on a new journey to fully build a modern socialist country, which will provide a wider space for businesses around the world, including American companies such as Starbucks, to expand in China, Xi said.

At the end of 2020, China adopted proposals for the formulation of the 14th five-year plan (2021-2025) for national economic and social development and long-term goals until 2035, which highlights a new model of development which emphasizes innovation demand, quality of development and high level openness among others.

Schultz recently sent a letter to Xi, congratulating China on the upcoming construction of a moderately prosperous society in all respects under Xi’s leadership, and expressing respect for Chinese people and culture.

Starbucks announced in March of last year that it would invest around $ 130 million in China, with a goal of having 6,000 stores in the country by 2022.

The investment will be used to open a state-of-the-art roasting facility in 2022 as part of its new Coffee Innovation Park (CIP), underscoring the company’s ambition to further globalize its roasting network and strengthen its strategic focus on the United States. and China as its two main growth markets, the company said in a press release.

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