China is tougher turf for US firms

The performance of US businesses in China declined for a second consecutive year in 2012 amid rising labour costs, tougher competition, and a slowing economy.

But, a record number of American businesses said they were optimistic about the outlook for China for the next five years.

According to a survey of 420 companies by the American Chamber of Commerce (AmCham) in Shanghai, 73 per cent of respondents were profitable last year, down from 78 per cent in 2011.

via Business feed http://www.scmp.com/business/china-business/article/1164174/china-tougher-turf-us-firms