| Investments in China key for global profitability |
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| Thursday, December 10, 2009 |
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U.S. companies are finding China
crucial for their profitability as they increasingly focus on selling to the
Chinese market rather than manufacturing there for export, reports the Associated
Press. The annual report on U.S. businesses in China, issued by the American
Chamber of Commerce in Shanghai, found that two-thirds of the 369 companies
responding to the survey had stable or improved profit margins in 2009 despite
weaker revenues. Companies that began operations in China mainly to use it as a
low-cost manufacturing base for exports are increasingly shifting their focus
to the local market, especially regions outside affluent coastal cities like
Shanghai. That includes a wide range of companies, from big agribusinesses like
Cargill Inc. and automakers like General Motors Co., to pharmaceutical makers
and high-tech companies setting up shop in provincial centers far from the
coasts. According to the survey, most companies plan to increase their
investments in China in 2010, with three-quarters listing it as one of their
top three global priorities.
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The series offers 29 displacements, with pressures to 500-PSI standard, some offering pressures up to 2,500 PSI.
