Compliance becomes hotter issue for U.S. firms in China: report

U.S. companies in China placed greater focus on compliance last year after several high profile probes into corruption and high pricing, but rising costs and a skills shortage remained their main concerns, the American Chamber of Commerce in Shanghai said in its annual report. China is the world's second largest economy and posted 7.7 percent GDP growth in 2013, slow by Chinese standards but far quicker than stagnant growth in Europe and the United States. Issues of corporate corruption caused ripples last year after a series of investigations against firms from British drugmaker GlaxoSmithKline Plc (GSK.L) to U.S. milk powder maker Mead Johnson Nutrition Co (MJN.N). "Despite optimism and growth, challenges in the business and regulatory environment in China continue to hinder business," the report said.



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