Of course Coca-Cola is more popular.
First of all, Coca-Cola has entered the mainland Chinese market as early as the 1980s, and even the word "Coke" is directly transliterated from Coca-Cola.
Secondly, the formula of Pepsi-Cola is imitated by Coca-Cola. The original formula of Coca-Cola is still unknown to outsiders.
In addition, Pepsi-Cola tastes sweeter, is easy to get tired, and is also easier to gain weight.
In short, Coca-Cola is superior in terms of the time of production and entry into the Chinese mainland market, formula and taste, which also makes Coca-Cola more popular in China.