U.S. Companies in China Prosper Despite Hurdles
U.S. companies are quietly thriving in one of the world's most challenging markets, even as they express frustration at China's halting pace in honoring its World Trade Organization promises, according to a survey.
The annual survey, jointly released Thursday by the American Chamber of Commerce China and its sister group in Shanghai, offers a telling glimpse at one of the country's best-kept secrets: the widespread profitability of multinationals. The Chinese government doesn't release such information, though it keeps track of it for tax purposes. And foreign companies rarely divulge their China earnings for fear of tipping off competitors -- or Chinese tax collectors.
The 2003 White Paper, as it is called, shows U.S. companies last year reported their strongest profits in the survey's four-year history. Responses from 254 American companies in China indicated that 75% were profitable, while 10% said they were "very profitable." For 44% of respondents, revenue for 2002 "increased substantially." And in a surprising finding for a country where competition is cutthroat, 42% of the U.S. companies reported that their profit margins in China were higher than their world-wide margins last year.
Officials of the U.S. business group said several forces likely are converging to deliver fatter profit margins. While China remains a notoriously difficult place to do business, the country's growth is outstripping that of all other major economies. A looser regulatory environment has allowed companies to shed joint-venture partners and operate on their own. And many are benefiting from the adjustments forced on them by years of hard knocks.
"Some companies are coming up the learning curve and are able to cope with the market a whole lot better," said Christian Murck, the group's chairman.
The surveys have become a kind of barometer for China's business environment. In recent years, the surveys have suggested that China's market was bucking commonly held perceptions of being a black hole for foreign businesses. Instead, many U.S. companies reported growing profits and revenue. The responses came mostly from companies focused on selling to the China market, followed by those that buy goods or make goods for export from the country.
Despite citing better fortunes overall, the organization has become increasingly critical of China's performance in regard to its WTO commitments. "There is growing skepticism about China's commitment to accelerated economic reforms," Mr. Murck said.
This year's harsh assessment reflects rising disappointment among U.S. companies about a weaker-than-expected impact of China's WTO membership on their operations. The white paper points to lapses in enforcing a wide range of market-opening measures and highlights barriers that have arisen in industries such as agriculture and banking.
Only one in five companies surveyed believes China is "willing, able and prepared to implement changes in the spirit of the WTO agreement," Mr. Murck noted. He said members believe the fault lies less with the central government's commitment than in enforcement of those commitments through the Chinese bureaucracy.
美国公司在中国普遍盈利丰厚
一项调查结果显示，尽管美国公司不断抱怨中国履行入世承诺的步伐缓慢，但在这个世界上最具挑战的市场，这些美国公司正悄然日盛。
中国美国商会(American Chamber of Commerce China)及其在上海的姊妹商会周四联合公布了其一年一度的调查结果，向人们揭示了美国公司在中国鲜为人知的经营事实：跨国公司在中国普遍盈利丰厚。中国政府并不公布这些信息，只是出于征税的考虑对这些公司的业绩做跟踪纪录。而外国公司也很少宣扬自己在中国的利润到底有多少，它们担心会将信息泄露给竞争对手或是中国的税务机关。
这份名为《2003白皮书》(2003 White Paper)的调查报告显示，在长达4年的调查期内，美国公司去年的盈利状况最佳。在中国开展业务的美国公司中，有254家接受了这次调查，其中75%的公司实现盈利，并有10%的公司利润非常丰厚。还有44%的公司回答2002年收入大幅增长。另外，调查还出人意料的发现，在竞争如此激烈的中国市场，美国公司去年所获得的利润率居然高于它们在全世界的利润率。
美国商会官员说，在中国经营利润率很高可能是多方面原因共同作用的结果。虽然在中国经商难是众所周知的，但毕竟中国经济增长的高速度独步世界。由于这里的监管尚未健全，美国公司可以摆脱其中方合作伙伴，实际上进行著独资经营。而这些美国公司在中国多年来的坎坷经历也让它们从中受益匪浅。
美国商会主席孟克文(Christian Murck)说，有些企业已经发挥出学习曲线的效应，驾驭中国市场的能力大为改观。
该调查可以说是中国经营环境的一个晴雨表。人们总是认为中国对于外资公司就是个无底洞，但最近几年美国商会的调查结果却与这种看法大相径庭，事实上很多美国公司在中国的利润和收入都在增长。接受调查的公司中，以专事向中国市场出售商品的公司最多，其次是一些在中国采购原料，加工后再出口的公司。
尽管美国公司在中国的整体业绩提升，但美国商会对中国履行入世承诺的情况却越来越感到不满。“人们愈来愈怀疑，中国是不是真的在加速经济改革”，孟克文说。
美国商会今年的严厉措辞反映出，美国公司对中国入世后未能使他们得到预期的实惠而感到失望。《2003白皮书》指出，中国在很多领域的开放措施执行不力，还强调说在农业和银行等行业的壁垒有增无减。
孟克文指出，只有五分之一的受访公司相信中国“愿意、能够且准备贯彻世界贸易组织的精神”。他说，商会成员认为，主要问题不在中央政府，而在于那些负责政策执行的各级机构。
