China sparkles brightly among US firms
By Joy Wang |
December 10, 2009, Thursday
|
Print Edition
Print Edition
AN overwhelming majority of American companies continue to see growth in revenue and profit in China, which they rank as a top investment spot in 2010, according to a survey released yesterday by the American Chamber of Commerce in Shanghai.
The survey of 369 American companies with operations in China found a record 90 percent of them are optimistic of their business prospects in the China market.
American firms continued to grow in China this year, albeit at a slower pace - 66 percent of the respondents said their operating margins in 2009 were equal to or better than last year's.
Also, about 41 percent reported higher China operating margins than global margins, up from 33 percent last year, while 60 percent said the crisis had a bigger impact on their global, rather than China, operations.
"American companies are finding that their performance in China is the bright spot in an otherwise difficult global picture," said J. Norwell Coquillard, chairman of AmCham Shanghai.
Another interesting outcome of the survey is the rising trend of "in China for China."
The percentage of companies which are in China primarily to produce goods and services for the China market jumped to 59 percent from 39 percent last year, the survey discovered. The jump was the largest increase since 2006.
Meanwhile, companies in China making goods primarily for export to the United States market dropped to 16 percent this year from 21 percent in 2008.
Looking into the future, the survey said 64 percent of the firms plan to lift China investments next year, and 74 percent ranked China as a top three investment priority while nearly 20 percent picked it as the No. 1 choice.
The survey of 369 American companies with operations in China found a record 90 percent of them are optimistic of their business prospects in the China market.
American firms continued to grow in China this year, albeit at a slower pace - 66 percent of the respondents said their operating margins in 2009 were equal to or better than last year's.
Also, about 41 percent reported higher China operating margins than global margins, up from 33 percent last year, while 60 percent said the crisis had a bigger impact on their global, rather than China, operations.
"American companies are finding that their performance in China is the bright spot in an otherwise difficult global picture," said J. Norwell Coquillard, chairman of AmCham Shanghai.
Another interesting outcome of the survey is the rising trend of "in China for China."
The percentage of companies which are in China primarily to produce goods and services for the China market jumped to 59 percent from 39 percent last year, the survey discovered. The jump was the largest increase since 2006.
Meanwhile, companies in China making goods primarily for export to the United States market dropped to 16 percent this year from 21 percent in 2008.
Looking into the future, the survey said 64 percent of the firms plan to lift China investments next year, and 74 percent ranked China as a top three investment priority while nearly 20 percent picked it as the No. 1 choice.
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