The majority of U.S. companies remain profitable in the China market, but increasing local competition and rising costs are pressuring profit margins, according to a new survey. The U.S.-China Business Council (USCBC) said Monday that nearly 50 percent of survey respondents reported double-digit revenue expansion — fewer than in prior years, but still strong results compared with other global markets. “The China market continues to deliver important revenue opportunities for American companies, even as GDP growth moderates,” said USCBC President John Frisbie. The central concern around the increasing competition from China's domestic industry resides in the preferential treatment received by Chinese state-owned enterprises. "The survey data shows again that nationality trumps ownership, Chinese companies, whether state-owned or private, receive benefits that foreign companies do not," the report said.