Coca-Cola says to invest over $4 billion in China in 2015-2017

The Coca-Cola Co (KO) said it will invest over $4 billion in China and build new plants between 2015 and 2017, to counter competition which is chipping away at its share of the country's 421 billion yuan ($69.12 billion) soft drinks market.

The investment will add to the $4 billion that the world's largest drinks maker has earmarked for China in 2012-2014, said Asia-based spokeswoman Sharolyn Choy, confirming a Bloomberg report earlier on Friday. The beverage maker is also open to deals with local firms, Choy said. Analysts said this could help it play the trend in China toward more local-style herbal teas and healthier drinks.

Chinese consumers are increasingly opting for healthier alternatives in food and drink, which has hit growth for fast food chains such as McDonald's Corp (MCD) and KFC-parent Yum Brands Inc (YUM). Read more.