Nearly two thirds of the surveyed companies said they were making considerable profits in China and 42 percent said their businesses in China reaped higher profits than the average level of their global operation, according to a report released by the American Chamber of Commerce in China (AmCham-China) on Sunday, reports the Beijing Times on Monday.

It is reported that the report was based on its seven years of annual AmCham member survey data from 1999 to 2005.

The report shows that China has been making efforts to fulfill its WTO commitments on opening its market. In 1999, only 24 percent of surveyed AmCham-China members successfully entered into China market, and in 2005, 72 percent of the members said they had enlarged their varieties of products and services here.

The report also said China once requested that almost all foreign companies must set up joint ventures with Chinese companies. But in 2005, 60 per cent of the surveyed firms were solely US-owned enterprises while the proportion was only 33 percent in 1999. During that period, the proportion of the joint ventures of United States' enterprises dropped to 27 percent from 78 percent.

By People's Daily Online