Coca-Cola, the world's largest soft drink maker, registered double-digit sales growth in China market during the second quarter, the company's 23rd quarterly double-digit growth in a row here, helping offset the slowdown in its home turf of the United States.
Company executives said the growth has been buoyed by the nation's stimulus package, and Coca-Cola would continue to implement its investment plan for China, its third largest market worldwide next to the US and Mexico, as previously promised, to cash in on opportunities in the world's rapidly growing market.
For the second quarter Coca-Cola China posted a sales growth of 14 percent compared with a negative growth of 4 percent globally - mainly due to lower sales in US and some European markets where consumers are cutting their daily expenditure budgets.
The growth rate is four percentage points higher than the previous quarter, and it also marks the company's 23rd quarterly double-digit increase. In the first quarter, Coca-Cola's China business increased by 10 percent, whereas the global business grew just 2 percent.
Last year, Coca-Cola registered growth of 19 percent by sales in China, despite the economic slowdown in the nation.
"Our investments in key growth markets contributed to the good performance in markets, including China, Mexico, India and Brazil," said Muhtar Kent, chairman and CEO of Coca-Cola.
Zhai Mei, public relations manager of Coca-Cola North China, agreed. "We are upbeat about the growth ahead, supported by our continuous injection of investment here."
