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U.S. firms optimistic in China outlook: report

Xinhua, March 4, 2015 Adjust font size:

About 85 percent of U.S. businesses in China are still "optimistic" or "slightly optimistic" in their five-year outlook despite an economic slowdown and rising costs, showed a report on Wednesday.

There is continued confidence in business opportunities in China, according to the annual China Business Report by the American Chamber of Commerce in Shanghai (AmCham Shanghai).

China can continue to offer opportunities for U.S. businesses with its current economic growth, said Kenneth Jarrett, president of AmCham Shanghai.

The report said 91 percent of the 377 U.S. businesses surveyed cited the challenge of high operational costs in China, but only 10 percent said they might move their business to other Asian countries or back to the United States.

Some 96 percent of the companies surveyed reported they had maintained or increased investment in China operations in 2014, and 95 percent forecast a similar investment plan for 2015.

Companies continued to report positive but more moderate growth prospects amid expectations of China's slowing growth.

This sentiment, however, is not universal. Industries including healthcare, consumer goods and energy, still expect high levels of growth.

The top three challenges facing U.S. businesses are rising costs, staffing constraints and domestic competition, the report showed. Endi