China’s outsourcing services grow 17 percent

October 12th, 2008 - 6:48 pm ICT by IANS  

Shanghai, Oct 12 (Xinhua) Chinese companies had contracts to provide outsourced services abroad to a value of $1.9 billion in the first eight months, up 17 percent from the same period last year, according to the ministry of commerce.By the end of August, the number of outsource service companies in the country was about 1,800 with about 330,000 employees, the ministry’s statistics showed.

In 2007, total contracts abroad for outsourced services were $2.09 billion, up 118 percent over 2005.

Li Zhiqun, the ministry’s official in charge of foreign investment, said many multi-nationals were transferring service industries to developing countries to reduce costs and increase competitiveness, offering new opportunities to China’s outsourcing service industry.

The government plans to develop 10 outsourcing base cities by 2010 in an effort to build up outsourcing services. The cities include Shanghai, Dalian, Xi’an, Shenzhen and Chengdu.

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