Pepsi to Invest $1 Billion in China

PepsiCo(PEP Quote) said Monday it plans to invest $1 billion in China over the next four years as part of its strategy to expand in emerging markets.

In a statement, Pepsi said the investment is its largest in China in the nearly 30 years the company has been doing business in the country.

The investment will go toward expanding manufacturing, and also will be used to expand local research and development facilities and build the company's sales force. Pepsi also said it plans to develop new products tailored to Chinese consumers.

China is one of Pepsi's fastest-growing international markets, the beverage and snacks maker said.