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Focus on service outsourcing
By Wang Yanlin |
November 19, 2010, Friday
|
Print Edition
Print Edition
SHANGHAI aims to more than quadruple revenues from its offshore service outsourcing industry by 2015, Vice Mayor Tang Dengjie said yesterday.
The city can lead other cities in the Yangtze Delta region in attracting more foreign contracts in outsourcing as it has a big pool of professionals and better infrastructure, Tang said at a forum in Shanghai.
In five years, Shanghai's offshore service outsourcing sector's revenue is expected at US$4.5 billion, up from US$1.04 billion in 2009.
In the first three quarters, Shanghai's revenue from the sector surged 91.9 percent from a year earlier to US$619 million. Through to September the sector's revenue jumped 43.2 percent annually to US$1.2 billion.
"The government is attaching special importance to the development of the service outsourcing industry," Tang said. "Developed well, it can power the upgrading of Shanghai's economic structure."
Outsourcing, which has grown into a trillion-dollar business over the past few years, subcontracts a certain process of production, such as designing, packaging, or information management, to a third-party company.
Different from manufacturing outsourcing, service outsourcing is greener and more value added
Shanghai's strengths are in financial service outsourcing, information technology outsourcing and business process outsourcing, observers said.
Experts at the forum said competing cities in the delta region should cooperate and maximize their advantages.
"Cities like Shanghai have more professionals in advanced technology and financial services. Hangzhou is competitive in lower operational costs," said Shan Qingjiang, a Ministry of Commerce official.
The city can lead other cities in the Yangtze Delta region in attracting more foreign contracts in outsourcing as it has a big pool of professionals and better infrastructure, Tang said at a forum in Shanghai.
In five years, Shanghai's offshore service outsourcing sector's revenue is expected at US$4.5 billion, up from US$1.04 billion in 2009.
In the first three quarters, Shanghai's revenue from the sector surged 91.9 percent from a year earlier to US$619 million. Through to September the sector's revenue jumped 43.2 percent annually to US$1.2 billion.
"The government is attaching special importance to the development of the service outsourcing industry," Tang said. "Developed well, it can power the upgrading of Shanghai's economic structure."
Outsourcing, which has grown into a trillion-dollar business over the past few years, subcontracts a certain process of production, such as designing, packaging, or information management, to a third-party company.
Different from manufacturing outsourcing, service outsourcing is greener and more value added
Shanghai's strengths are in financial service outsourcing, information technology outsourcing and business process outsourcing, observers said.
Experts at the forum said competing cities in the delta region should cooperate and maximize their advantages.
"Cities like Shanghai have more professionals in advanced technology and financial services. Hangzhou is competitive in lower operational costs," said Shan Qingjiang, a Ministry of Commerce official.
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