Starbucks Corp. is exploring strategic options for its operations in China, including the potential sale of a stake in its Chinese business to local partners or private equity firms, according to Bloomberg News. This move comes as the company seeks to bolster its growth in the region, which is its second-largest market after the U.S., bringing in approximately $3 billion in revenue. Starbucks has been facing increased competition from local upstarts like Luckin Coffee, prompting the exploration of strategic partnerships to drive growth. The company has reiterated its commitment to the Chinese market, stating it is working to find the best path to growth, which includes considering strategic partnerships.