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Starbucks announces $5m fund to support education in China

www.chinanews.cn 2005-09-20 09:50:50

(Source: CRIENGLISH.com)

China's movie star Zhang Ziyi at the conference held by Starbucks on
Monday.

Sept. 19 - Coffee retailing giant Starbucks on Monday announced the
inauguration of a US$5 million (euro4.1 million) fund to promote
education in China, part of its efforts to raise its profile in a market
it hopes will be its second largest after the United States.
Chairman Howard Schultz said the fund reflected the Starbucks credo of
making money while undertaking socially responsible projects in target
markets.
Schultz said the educational fund would funnel money through a local
advisory group that would chose different schools worthy of assistance.
Starbucks, which opened in China in 1999, has only 140 outlets in the
country, a small fraction of its almost 6,000 stores in the United States.
However, Schultz said, the company was aiming to increase its Chinese
presence significantly.

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