Companies prepare to expand business in Year of Dragon

SHANGHAI - A majority of US companies are bullish about China's economic outlook and will expand investment in 2012 despite rising operational costs, a new survey showed.

According to a poll conducted by the American Chamber of Commerce in Shanghai, 78 percent of US firms said they were profitable in the past year, and 77 percent said they plan to increase investment in China.

A total of 315 companies participated in the chamber's annual survey with industry in manufacturing, retail and services.