U.S. firms in China set for greater competition ahead: survey

SHANGHAI (Reuters) – Profitability and sales are harder to come by in China as U.S. firms face increasing competition from domestic and foreign players, said a U.S. business group survey on Thursday. An annual survey by the American Chamber of Commerce in Shanghai showed a majority of firms believed that competition had intensified, while the number who said they were profitable in 2012 dropped to 73 percent from 78 percent in 2011. …