Starbucks will lower prices for several drinks in China, the company announced on Monday, as it attempts to accelerate sluggish sales in its largest international market. In a post on the Chinese social media platform Weixin,

Starbucks Corp. on Monday announced price cuts for a slew of its tea-based beverages at its stores across China, as the American coffee chain takes a more aggressive approach to revive sales at its second-biggest market.

Starbucks Corp. (SBUX) has said it would reduce beverage prices in China to regain market share amid rising competition from fast-growing local rivals. Through its Weixin social media account, Starbucks China said it would start offering more "accessible" prices on dozens of its drinks,