A Caterpillar excavator is displayed at the China Coal and Mining Expo 2013 in Beijing, China October 22, 2013. REUTERS/Kim Kyung-Hoon
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Trade tensions between Washington and Beijing may be running high but corporate America is finding China to be a reliable source of profit growth this year.Caterpillar Inc., a bellwether for industrial demand in China and beyond, reported its sales in Asia-Pacific rose 25 percent in the second quarter – thanks to China.Komatsu's China sales almost doubled in the firm's April-June quarter.Chinese companies are also benefiting from the robust domestic economy. For example, Chinese auto manufacturer Geely Automobile Holdings announced last week that its July sales climbed 89 percent from the year-earlier-month. American companies in China have been collectively reporting better prospects even as they complain that the Chinese authorities are not allowing them enough access to parts of the Chinese market and discriminating against them as they seek to compete against Chinese rivals.Despite some negatives in the Sino-U.S. relationship, a July report by the American Chamber of Commerce in Shanghai showed that 82 percent of U.S. companies in China expect revenues to increase this year, up from 76 percent a year ago.
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