More and more you see products with both Chinese and English names, names that make sense. (No more of those funny emails about cars that mean "no go" in Spanish or drinks that promise "your ancestors will rise from the dead" in Chinese). Sprite translates as something to do with snow, Coca Cola translates as "happiness in the mouth". Both sound roughly similar to their English names.
That said, there's still a lot of Chinglish around. Still good for a laugh.