China's outsourcing service is promising as it has witnessed fast expansion with optimized structural adjustments over the past few years, officials attending the 4th Global Outsourcing Summit said Monday.
"China's outsourcing service has become a green engine for economic development and will have a strong influence on the urban economic transformation," said Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation.
According to Huo, the number of China's outsourcing companies had exceeded 10,000 by the end of 2010 and these companies had created some 2.3 million jobs.
Outsourcing, or sub-servicing, refers to the contracting out of business that is otherwise performed in-house.
Figures from the Ministry of Commerce show that China's offshore outsourcing contracts totaled 14.5 billion U.S. dollars in 2010, up 43 percent year-on-year.
In the first four months of this year, offshore outsourcing contracts more than doubled from a year ago to 5.2 billion dollars, according to the ministry.
"Outsourcing has become a key factor in China's urban economic transformation," said vice minister of commerce Wang Chao.
As China is abundant with human resources, it should make full use of this advantage to develop not only processing and trade but also the outsourcing service, said former vice minister of commerce Wei Jianguo.
More than 600 business leaders from 44 countries and regions are attending the outsourcing summit that opened Monday in Ma'anshan, east China's Anhui Province.
Weekly review May 20 World Economic Forum China office marks fifth anniversary May 18 China, Pakistan joined in bonds of brotherhood May 20 'Central axis' of Beijing applies for world cultural heritage May 20 In pictures: Int'l 'Financial Security' symposium opens in Beijing May 21 The week in pictures May 16 Beijing aims for massive influx of overseas talent in 2011 May 16 Singapore election coverage shows Western arrogance May 16 Chinese naval helicopter conducts target practice in Gulf of Aden May 17 Strategies for harmony between militaries of China, US May 17 Pakistani Prime Minister hails China as true friend
"China's outsourcing service has become a green engine for economic development and will have a strong influence on the urban economic transformation," said Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation.
According to Huo, the number of China's outsourcing companies had exceeded 10,000 by the end of 2010 and these companies had created some 2.3 million jobs.
Outsourcing, or sub-servicing, refers to the contracting out of business that is otherwise performed in-house.
Figures from the Ministry of Commerce show that China's offshore outsourcing contracts totaled 14.5 billion U.S. dollars in 2010, up 43 percent year-on-year.
In the first four months of this year, offshore outsourcing contracts more than doubled from a year ago to 5.2 billion dollars, according to the ministry.
"Outsourcing has become a key factor in China's urban economic transformation," said vice minister of commerce Wang Chao.
As China is abundant with human resources, it should make full use of this advantage to develop not only processing and trade but also the outsourcing service, said former vice minister of commerce Wei Jianguo.
More than 600 business leaders from 44 countries and regions are attending the outsourcing summit that opened Monday in Ma'anshan, east China's Anhui Province.
Weekly review May 20 World Economic Forum China office marks fifth anniversary May 18 China, Pakistan joined in bonds of brotherhood May 20 'Central axis' of Beijing applies for world cultural heritage May 20 In pictures: Int'l 'Financial Security' symposium opens in Beijing May 21 The week in pictures May 16 Beijing aims for massive influx of overseas talent in 2011 May 16 Singapore election coverage shows Western arrogance May 16 Chinese naval helicopter conducts target practice in Gulf of Aden May 17 Strategies for harmony between militaries of China, US May 17 Pakistani Prime Minister hails China as true friend
