December 28, 2016 5:00 pm | Updated 3 years ago.
According to the latest figures coming from China’s Ministry of Commerce due to strong overseas demands, there is an increase in the growth of service outsourcing industry in the first 11 months. During the January – November period, the Chinese businesses inked service outsourcing deals worth US$120 billion (836.09 billion Yuan) which is up by 17.5 percent year on year.
This is even faster than the first 10 months which counts 9.5% rise in the outsourcing industry in China. Service outsourcing contracts has increased rapidly from the EU and US.
The State Council has even described this sector as a “green industry,” as the service outsourcing contracts are like a new engine for the country’s tertiary sector and also a blessing for increasing the rate of employment in China. China is the world’s second largest service outsourcing provider in the world.
Date of Publication: December 26, 2016