U.S. group says China's business environment optimistic

BEIJING, March 30 (Xinhua) -- The majority of foreign-invested enterprises in China are still optimistic about the country's business environment, a U.S. business group leader said in Beijing Tuesday.

Harley Seyedin, president of the American Chamber of Commerce in South China, told Xinhua in an exclusive interview that most of the foreign enterprises represented by the chamber considered the business environment in the country favorable, and were planning to invest 44 percent more in 2010 than they did last year in southern China.

"China's economic recovery is well on its way," Seyedin said. "The investment prospect here is very optimistic."

He was speaking just weeks after the American Chamber of Commerce in South China released its 2010 Special Report on the State of Business in South China earlier this month.

The American Chamber of Commerce in South China represents more than 1,650 enterprise and individual members, and has conducted its special report study annually since 2006.

According to the special report, more than 90 percent of enterprises that took part in a study by the chamber considered China's business environment to be good, very good or outstanding.

It also said 90 percent of the respondents believed China's business environment had improved compared with 12 months ago.

"These optimistic figures show that foreign-invested enterprises participated in our study are very confident of China's business environment," Seyedin said.

The chamber estimated that its members would invest a minimum of 9.4 billion U.S. dollars this year.

"The enterprises are increasing their investment budget in China because it has a favorable investment environment, and because they can profit in China," Seyedin said.

According to the special report, close to 79 percent of respondents said their companies had already reported profits, whereas another 15.7 percent expected profitability within two years.