US firms in China fo­cus on ser­vices, sur­vey shows

China Daily (Canada) - - NEWSCAPSULE -

US com­pa­nies in China are shift­ing their fo­cus to the ser­vice sec­tor, and the world’s sec­ond­largest econ­omy continues to act as a key profit cen­ter for them, ac­cord­ing to a sur­vey.

For the first time, ser­vices ac­counted for more than half, or 52 per­cent, of US com­pa­nies’ rev­enue in China in 2013, up 11 per­cent from the pre­vi­ous year, ac­cord­ing to the an­nual China Busi­ness Re­port by the Amer­i­can Cham­ber of Com­merce in Shang­hai.

The grow­ing im­por­tance of ser­vices con­trasts sharply with man­u­fac­tur­ing, which dropped by 10 per­cent to com­prise 37 per­cent of com­pa­nies’ rev­enues in 2013, ac­cord­ing to the sur­vey, which tracks per­for­mance and con­fi­dence of the largest US busi­ness com­mu­nity in China.

The sur­vey said 74 per­cent of re­spon­dents re­ported prof­its in 2013.

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