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AmCham: US businesses did well in 2010 but hurdles remain
By Wang Yanlin |
January 19, 2011, Wednesday
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Online Edition
Online Edition
MOST American companies in China reported better performance in 2010 and expressed optimism for years to come, said a report released today by the American Chamber of Commerce in Shanghai.
But finding qualified employees remains a challenge to American investors who ask for a better regulatory environment.
According to the report, 87 percent of US companies in China achieved revenue growth last year, surging from 47 percent in 2009 and 77 percent in 2008. Profit-making US companies in China expanded to 79 percent last year, up from 65 percent in 2009 and 70 percent in 2008. Also, 61 percent of them said they gained more market share in China.
Despite their impressive performance, US companies said finding qualified staff was difficult -- they regarded it the No 1 business challenge as competition was picking up not only between the US and other foreign companies, but also between American companies and their Chinese peers.
"This year's survey indicates that US companies in China have come to expect challenges in the Chinese market, have weighed them against opportunities and have found a way to succeed despite them," said Brenda Foster, president of AmCham Shanghai.
"Nonetheless, it is essential that the US continues to aggressively engage China to address key business challenges that hinder market access today and could impact future investment," she said.
The report said issues related to regulatory environment remained a top hurdle for investors. About 48 percent of companies surveyed described the regulatory environment as "not changing" in the past year and 15.2 percent said it was "deteriorating." Also, nearly half of the companies feared the regulatory environment favored Chinese companies over foreign rivals.
But finding qualified employees remains a challenge to American investors who ask for a better regulatory environment.
According to the report, 87 percent of US companies in China achieved revenue growth last year, surging from 47 percent in 2009 and 77 percent in 2008. Profit-making US companies in China expanded to 79 percent last year, up from 65 percent in 2009 and 70 percent in 2008. Also, 61 percent of them said they gained more market share in China.
Despite their impressive performance, US companies said finding qualified staff was difficult -- they regarded it the No 1 business challenge as competition was picking up not only between the US and other foreign companies, but also between American companies and their Chinese peers.
"This year's survey indicates that US companies in China have come to expect challenges in the Chinese market, have weighed them against opportunities and have found a way to succeed despite them," said Brenda Foster, president of AmCham Shanghai.
"Nonetheless, it is essential that the US continues to aggressively engage China to address key business challenges that hinder market access today and could impact future investment," she said.
The report said issues related to regulatory environment remained a top hurdle for investors. About 48 percent of companies surveyed described the regulatory environment as "not changing" in the past year and 15.2 percent said it was "deteriorating." Also, nearly half of the companies feared the regulatory environment favored Chinese companies over foreign rivals.
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