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Ninety-four percent of American businesses in China surveyed say they are optimistic about their operation prospects in the country in the forthcoming five years.

That was learned from China Business Report 2006 released on Monday by American Chamber of Commerce in Shanghai (AmCham Shanghai) at a symposium held on the same day featuring international economic cooperation in East Asia.

The report was produced based on a survey AmCham Shanghai conducted among 274 American businesses in China.

According to the report, about 24.6 percent of the ventures surveyed say it is "very likely", or "probable" for them to acquire local Chinese businesses in the five years to come.

And 29.2 percent of the ventures survey responded that they are "uncertain" about any local Chinese company acquisition plan, while 46.2 percent remainder totally rule out the possibility.

One third of the ventures surveyed say they will first consider China in their global investment plans in the near future. And 84 percent of the American businesses surveyed forecast their operating revenue for the year of 2006 will exceed that of last year.

Jeffrey Bernstein, chairman of the board with AmCham Shanghai, said the report would improve confidence of American businesses in expanding the Chinese market in the long run.

AmCham Shanghai is a non-partisan, non-profit business organization established in 1915. It is the third overseas American chamber to operate worldwide, established only three years after the founding of the U.S. Chamber of Commerce. AmCham Shanghai was resurrected in 1987 after a break of 38 years, and is now among the two largest AmChams in Asia, alongside AmCham Japan.AmCham Shanghai represents 1,400 companies and 3,400 individual members and is growing by an average of 80 new members per month.

The symposium was hosted by Shanghai Institute of International Studies and Shanghai Research Institute of International Economy and Trade.

(Xinhua News Agency November 29, 2006)