During its annual shareholders meeting on Wednesday, Starbucks announced that they will be bringing Teavana, the company's own line of tea, to China. 

China is the world's largest consumer of tea, breaking the stereotype of the tea-loving Brits. 

Teavan will arrive in China at the end of Starbucks' fiscal year, which is on September. The company also plans to roll out their tea line across stores in Europe, Middle East, and Asia Pacific. 

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"It's very complementary to our coffee business. With Teavana - similar to what we've done with coffee - we've established a very premium brand," said Kevin Johnson, Starbucks' chief operating officer.  

Starbucks already sells green and iced tea drinks in their 2,000 retail stores distributed in 100 Chinese cities. Globally, the company's tea sales rose by 17 percent last year, with iced tea leading the growth at 29 percent. 

But Starbucks' Teavana is set to battle China's popular tea outlets such as U-Loveit and KFC, which began selling herbal teas to boost their ailing revenue. 

Starbucks also announced earlier this year that they plan to make China their biggest market by opening 500 stores in the mainland each year for the next five years. North America is currently the company's biggest market with more than 7,000 branches in the United States. 

"We have confidence in the future of the Chinese economy, despite all the rhetoric, noise and issues. People are looking for reasons not to believe. I'm on the ground and I see firsthand. I am bullish," Starbucks CEO Howard Schultz said during a visit to China in January. 

TagsStarbucks, Starbucks annual shareholders conference, Starbucks in China, teavana, Teavana in China, teas in China, U-Loveit, KFC in China, Howard Schultz, Kevin Johnson