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Outsourcing trade show opens
By Pan Zheng |
April 18, 2011, Monday
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Print Edition
Print Edition
AS delegates descend on an international trade exhibition dedicated to the service outsourcing industry taking place in the city from today, Pan Zheng looks at the various factors that put Hangzhou in the perfect position to develop in this field.
China Sourcing Summit 2011 is being held until Thursday with international buyers, service suppliers, consultancies and chief information officers of domestic giants participating in the exhibition, looking forward to more cooperation and improving the reputation of Hangzhou as the model city of China's service outsourcing business.
According to the plan, this exhibition will involve two summits and eight seminars with various topics including human resources, medical services, technology innovation and financial services.
As a well-known historical and cultural city with beautiful natural scenery, Hangzhou has its own advantages in developing investment business and service outsourcing, such as the rich human resource and perfect business environment, as well as industrial and geographical advantages.
Now there are altogether 37 universities and colleges in Hangzhou with more than 430,000 students, and 247 majors related to service outsourcing. More than 18,000 graduates annually grant the city with adequate talent in software engineering, design and language. According to the Hangzhou Foreign Trade and Economic Cooperation Bureau, there are currently more than 200,000 employees in the IT industry, and in those local software companies, about 45 percent of the employees are research and development staff.
Hangzhou has insisted in "attracting the best talented professionals with the best environment, establishing the best business with the best talented professionals, and building up the best city with the best business."
Hangzhou's economy has kept two-digit growth rate in the past 20 years, as it has established direct trade relationship with more than 200 countries and regions.
The financial industry in Hangzhou has also developed very well in recent years. There are presently more than 200 financial institutes in Hangzhou, occupying more than 60 percent of the total in Zhejiang Province. The latest statistics show that Hangzhou's financial size now ranks fifth among all the domestic cities, and it is only behind Shanghai among all the cities in the Yangtze River Delta.
The geographical advantages of Hangzhou are also obvious. Since Hangzhou is just over 170 kilometers from Shanghai, a journey that only takes 38 minutes by high-speed railway, the inter-city effect has been promoted. As Shanghai is speeding up in establishing itself as an international financial center, Hangzhou's service outsourcing will provide Shanghai with strong financial service support. Besides that, the well-developed transportation system in Hangzhou will also help a lot in business development.
With five years of development, the industrial value of Hangzhou's service outsourcing industry has expanded rapidly. In 2010, the contracted value of Hangzhou service outsourcing reached US$2.302 billion, including US$1.914 billion of offshore service outsourcing contracted value, which had increased by 69 percent from the value in 2009.
A good investment environment also helps attract and cultivate giant enterprises. The service outsourcing enterprises in Hangzhou include State Street Zhejiang, INSIGMA, Cisco Systems, Vtion and research centers for Nokia and Siemens.
The service outsourcing industry in Hangzhou involves various high-end fields, such as software, financial background programs, telecom, television, innovative design and professional services. Now, the outsourcing of telecom research and financial services have become the two specialties of Hangzhou's outsourcing industry, as other fields such as medical research, production technology and industrial design are also developing quickly.
Since 2006 when Hangzhou was selected as one of the "base cities of China service outsourcing," Hangzhou's step toward becoming a domestic and international top city for the outsourcing industry has never slowed down. With the strong support of local administration and the great advantages, the outsourcing industry in Hangzhou will definitely enjoy a magnificent prospect in the future.
Outsourcing by numbers
430,000 students
Now there are altogether 37 universities and colleges in Hangzhou with more than 430,000 students, and 247 majors related to service outsourcing.
200,000 employees
There are currently more than 200,000 employees in the IT industry, and in those local software companies, about 45 percent of the employees are research and development staff.
US$2.302 billion
In 2010, the contracted value of Hangzhou service outsourcing reached US$2.302 billion, including US$1.914 billion of offshore service outsourcing contracted value, which had increased by 69 percent from the value in 2009.
60%
The financial industry in Hangzhou has also developed very well in recent years. There are presently more than 200 financial institutes in Hangzhou, occupying more than 60 percent of the total in Zhejiang Province.
China Sourcing Summit 2011 is being held until Thursday with international buyers, service suppliers, consultancies and chief information officers of domestic giants participating in the exhibition, looking forward to more cooperation and improving the reputation of Hangzhou as the model city of China's service outsourcing business.
According to the plan, this exhibition will involve two summits and eight seminars with various topics including human resources, medical services, technology innovation and financial services.
As a well-known historical and cultural city with beautiful natural scenery, Hangzhou has its own advantages in developing investment business and service outsourcing, such as the rich human resource and perfect business environment, as well as industrial and geographical advantages.
Now there are altogether 37 universities and colleges in Hangzhou with more than 430,000 students, and 247 majors related to service outsourcing. More than 18,000 graduates annually grant the city with adequate talent in software engineering, design and language. According to the Hangzhou Foreign Trade and Economic Cooperation Bureau, there are currently more than 200,000 employees in the IT industry, and in those local software companies, about 45 percent of the employees are research and development staff.
Hangzhou has insisted in "attracting the best talented professionals with the best environment, establishing the best business with the best talented professionals, and building up the best city with the best business."
Hangzhou's economy has kept two-digit growth rate in the past 20 years, as it has established direct trade relationship with more than 200 countries and regions.
The financial industry in Hangzhou has also developed very well in recent years. There are presently more than 200 financial institutes in Hangzhou, occupying more than 60 percent of the total in Zhejiang Province. The latest statistics show that Hangzhou's financial size now ranks fifth among all the domestic cities, and it is only behind Shanghai among all the cities in the Yangtze River Delta.
The geographical advantages of Hangzhou are also obvious. Since Hangzhou is just over 170 kilometers from Shanghai, a journey that only takes 38 minutes by high-speed railway, the inter-city effect has been promoted. As Shanghai is speeding up in establishing itself as an international financial center, Hangzhou's service outsourcing will provide Shanghai with strong financial service support. Besides that, the well-developed transportation system in Hangzhou will also help a lot in business development.
With five years of development, the industrial value of Hangzhou's service outsourcing industry has expanded rapidly. In 2010, the contracted value of Hangzhou service outsourcing reached US$2.302 billion, including US$1.914 billion of offshore service outsourcing contracted value, which had increased by 69 percent from the value in 2009.
A good investment environment also helps attract and cultivate giant enterprises. The service outsourcing enterprises in Hangzhou include State Street Zhejiang, INSIGMA, Cisco Systems, Vtion and research centers for Nokia and Siemens.
The service outsourcing industry in Hangzhou involves various high-end fields, such as software, financial background programs, telecom, television, innovative design and professional services. Now, the outsourcing of telecom research and financial services have become the two specialties of Hangzhou's outsourcing industry, as other fields such as medical research, production technology and industrial design are also developing quickly.
Since 2006 when Hangzhou was selected as one of the "base cities of China service outsourcing," Hangzhou's step toward becoming a domestic and international top city for the outsourcing industry has never slowed down. With the strong support of local administration and the great advantages, the outsourcing industry in Hangzhou will definitely enjoy a magnificent prospect in the future.
Outsourcing by numbers
430,000 students
Now there are altogether 37 universities and colleges in Hangzhou with more than 430,000 students, and 247 majors related to service outsourcing.
200,000 employees
There are currently more than 200,000 employees in the IT industry, and in those local software companies, about 45 percent of the employees are research and development staff.
US$2.302 billion
In 2010, the contracted value of Hangzhou service outsourcing reached US$2.302 billion, including US$1.914 billion of offshore service outsourcing contracted value, which had increased by 69 percent from the value in 2009.
60%
The financial industry in Hangzhou has also developed very well in recent years. There are presently more than 200 financial institutes in Hangzhou, occupying more than 60 percent of the total in Zhejiang Province.
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