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Services outsourcing is Shanghai's 'new growth engine'
By Wang Yanlin |
October 17, 2011, Monday
|
Online Edition
Online Edition
SHANGHAI will vigorously push forward services outsourcing to enhance the city's tertiary sector-based growth, an official at the Shanghai Commission of Commerce said ahead of the Global IT Outsourcing Summit that will open in the city on Thursday.
"Compared with other cities who also regard services outsourcing as a new growth engine, Shanghai has strength in knowledge-led services with a big pool of professionals, and we have an advantage as so many global companies locate their regional headquarters in Shanghai," said Sun Jiarong, director of trade of services department at the commission.
Outsourcing, which has grown into a trillion-dollar business over the past few years, subcontracts a certain process of production, such as design, packaging, or information management, to a third-party company. This can help to lower costs and raise efficiency in terms of either capital, labor, energy, land or time.
Shanghai has developed the outsourcing of information technology as a key force to gear up its services sector.
Last year, IT outsourcing, known as ITO, accounted for 67.9 percent of the total services outsourcing value in the city, which jumped 63.6 percent from a year earlier to US$2.75 billion, according to the commission.
Business process outsourcing and knowledge process outsourcing, or BPO and KPO, are the other two important parts of the outsourcing business.
The Global IT Outsourcing Summit, an annual event to promote the city's trade of outsourcing services in information technology, will be held this Thursday and Friday and is themed "Smart City, New Opportunity."
At the summit, several global companies will subcontract their business to suppliers in Shanghai. Certificates will also be granted to some special zones to be classified as information technology outsourcing parks.
"Compared with other cities who also regard services outsourcing as a new growth engine, Shanghai has strength in knowledge-led services with a big pool of professionals, and we have an advantage as so many global companies locate their regional headquarters in Shanghai," said Sun Jiarong, director of trade of services department at the commission.
Outsourcing, which has grown into a trillion-dollar business over the past few years, subcontracts a certain process of production, such as design, packaging, or information management, to a third-party company. This can help to lower costs and raise efficiency in terms of either capital, labor, energy, land or time.
Shanghai has developed the outsourcing of information technology as a key force to gear up its services sector.
Last year, IT outsourcing, known as ITO, accounted for 67.9 percent of the total services outsourcing value in the city, which jumped 63.6 percent from a year earlier to US$2.75 billion, according to the commission.
Business process outsourcing and knowledge process outsourcing, or BPO and KPO, are the other two important parts of the outsourcing business.
The Global IT Outsourcing Summit, an annual event to promote the city's trade of outsourcing services in information technology, will be held this Thursday and Friday and is themed "Smart City, New Opportunity."
At the summit, several global companies will subcontract their business to suppliers in Shanghai. Certificates will also be granted to some special zones to be classified as information technology outsourcing parks.
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