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September 3, 2009

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Home » Business » Economy

Boom for service outsourcing industry

A CHINESE trade official yesterday said the country's service outsourcing sector was doing brisk business despite the global economic downturn.
Service outsourcing lets overseas companies transfer service operations to providers in China so they can deal with their core business. Service outsourcing helps overseas clients manage business operations such as technology, training, logistics and advertising.
In June, China had 6,673 companies specializing in service outsourcing, including 1,406 new ventures between January and June, said Lin Zheying, deputy chief of the foreign investment department at the Ministry of Commerce, addressing an international conference on service outsourcing development yesterday.
The companies completed US$2.56 billion worth of international service outsourcing contracts from January to June, a rise of 32.5 percent from the same period last year, said Lin.
"The government has adopted a strategy of introducing a host of preferential policies to encourage and support development of service outsourcing since the start of the year," said Lin.
He said the strategy had also provided jobs.


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