Starbucks plans 5,000 stores in China

Starbucks will more than double its number of locations in China by 2021, increasing the company’s bet on a country that CEO Howard Schultz says eventually could be a bigger market than the US.

The chain will have 5,000 stores in mainland China within five years, up from about 2,300 now, the Seattle-based company said.

Starbucks, which currently gets about 13% of its revenue from the Asia-Pacific region, also is promoting Belinda Wong to chief executive of Starbucks China.