U.S. companies continued to see strong growth and profitability in China last year, the U.S.-China Business Council (USCBC), a leading bilateral business organization, said on Wednesday.
"Two-thirds of companies surveyed said revenue from their businesses in China grew by 10 percent or more in 2011. Seventy-five percent said profit margins from their China operations were the same as or better than their company's global margins," USCBC President John Frisbie said when releasing results of the 2012 China Business Environment Survey.
Nearly three-quarters of respondents in the survey indicated that they expected their revenues in 2012 to increase, said the USCBC.
"Despite market growth, company optimism is tempered by rising costs, domestic competition, and continuing regulatory and market access barriers," Frisbie added.
USCBC estimated China was a 250-billion-U.S.-dollar market for American companies. The survey revealed the Chinese exchange rate didn't impact U.S. company competitiveness in China, compared to other market access issues.
"This is a clear reminder to all U.S.-China commercial stakeholders that we need to focus on the issues that matter most and develop effective solutions to the top challenges facing American companies doing business with China," Frisbie stressed.
The USCBC is a private, nonpartisan, nonprofit organization of roughly 240 U.S. companies that do business with China.