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. (NASDAQ:SBUX) will reportedly cut prices on select iced beverages in China by an average of 5 yuan (approximately 70 cents), the company announced on Monday. The move comes amid rising competition and more cautious consumer behavior in the world’s second-largest economy.

Starbucks will lower prices of some iced drinks by an average of 5 yuan ($0.70) in China, the company said in a post published on its Weixin social media account on Monday. The U.S. coffee chain said it would create a "whole-day" service scenario,