China’s Outsourcing Services Grow 17% in First 8 Months of 2008
October 14, 2008 – 12:38 pmAccording to the latest data released by the Ministry of Commerce, Chinese outsourcing companies have signed contracts worth of 1.9 billion U.S. dollars in the first eight months of the year, up 17 percent from the same period last year.
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 U.S. dollars, up 118 percent over 2005.
Mr. Li Zhiqun, the ministry’s official in charge of foreign investment, said many multinationals 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 further develop 10 outsourcing base cities by 2010 in an effort to build up competitive outsourcing services. The cities include Shanghai, Dalian, Xi’an, Shenzhen and Chengdu, etc.