CRI听力: Survey: US Companies Optimistic in Chinese Market

The renewed optimism is being expressd in a new survey released on Friday by the American Chamber of Commerce in China.

CRI's Dominic Swire has more.

The 2010 China Business Climate Survey indicates that optimism among US companies in China about their prospects here over the next five years has rebounded after a significant drop in last year's survey.

Ted Dean, President of BDA, a leading consulting company in Asia, elaborated on some of the statistics presented in the survey.

"Certainly you can see a much more optimistic outlook than we saw in our last Business Climate Survey one year ago. 27 percent reported they are more optimistic versus only 14 percent in our survey a year ago. Fifty five reported that they were somewhat optimistic versus 32 percent the previous year. So (it's) a much improved optimism in the business community."

Dean says that the increased optimism is connected with the fact that China recorded an annual GDP growth of 8.7 percent in 2009 despite the global economic downturn.

He said a fast and strong recovery in the Chinese economy will create great potential for US businesses operating in China.

"We also asked our members how high of a priority China is in their global investment strategies. About 77 percent of our members say China is one of their top three investment destinations. Twenty eight percent reported that it was their number one destination, which is an increase of over 24 percent last year. I think that's both a reflection of a good environment and economic growth here. So China continues to be an important market for our members."

The 2010 survey also illustrates a clear rise in competition from local counterparts for US firms in China. (www.hxen.net)

But almost 80 percent of the respondents say they plan to increase their investment in the country this year after many firms put investments and expansion on hold in 2009.

The American Chamber of Commerce in China annually conducts its Business Climate Survey in order to gauge sentiment among member companies in China.

This year's survey, the 12th of its kind, was conducted in November and December 2009. In total, 388 corporate members of the chamber completed the survey, representing a 35 percent response rate.

Dominic Swire, CRI news.