73% of US-funded gain profits
Chinanews, Shenzhen, Oct 15 ?C Related surveys show that 73% of the US-funded firms have made profits in China. Among 37% of these US companies, their profitability rate in China is higher than that in other parts of the world. Apart from these profitable companies, there are another 51% of the US companies that have listed China as the most important location for them to make investment in the next five years, said Liao Xiaoqi, Vice Minister of Commerce.
He made the statement when delivering an opening speech at the Sino-US Industrial Technology Cooperation Forum held in Shenzhen last Friday. The forum, organized by the Ministry of Commerce, was part of the event for the Ninth China High-tech Fair.
In recent years, trade ties between China and the United States have developed fairly well. The two countries have established trade relations and investment ties that serve the interests of both countries. In 2006, the bilateral trade between China and US reached 262.7 billion US dollars, with China and US being the second largest trade partners of each other. Since 2000, US trade to China has increased by 22.6% year on year, or 4.7 times the trade growth that US has witnessed in other regions.
By the end of 2006, US had established more than 50,000 companies in China, with the actual investment figure exceeding 54 billion US dollars. In 2006, US companies generated a total of 10 billion US dollars of profit in China.
