PepsiCo has announced it will invest US$1.0 billion in China over the next four years. The news comes on the heels of a disappointing third quarter, in which profits sank almost 10.0%.

The investment will expand manufacturing capacity, expand local research and development facilities, and build the company's sales force to broaden product distribution. It will also help build Pepsi's brand as well as develop new products, which are focused on the tastes of Chinese consumers. Thousands of new jobs are expected to be created in China because of the investments.

According to a company spokesperson, China is one of PepsiCo's fastest-growing international markets. PepsiCo produces and sells many of its products in China including Pepsi, Frito-Lay snacks, Tropicana juices, Quaker foods and Gatorade sports drinks.