Starbucks will look to invest in China after closing underperforming stores and slashing jobs in the US, it has been revealed The Seattle-based company's Greater China President Wang Jinlong told Bloomberg yesterday: ”There will be more innovation, more new products, more resources, not only investment.” Last week the company said it will close 600 US outlets and get rid of 12,000 jobs. It also said it would slow domestic expansion plans. Now, it appear Starbucks will instead turn to China, Canada, and Japan for growth. Starbucks expects to gain as more-affluent Chinese are drawn to gourmet coffee. There are now 100 million middle-class consumers in China and this may grow to 200 million by 2020, Wang said Starbucks' retail sales in China gained 21.6% in May, close to the fastest pace in nine years. China, where more people drink tea than coffee, “has the potential to become the largest market outside the U.S.'' for Starbucks because of the nation is the world's largest with a population of 1.3 billion people, Wang added. Starbucks has more than 300 stores in China and had set plans to open at least 80 outlets this year.