January 20, 2016 3:23 pm | Updated 4 years ago.
Regardless of the fact that low economic growth had hit China hard in 2015, the outsourcing industry recorded a phenomenal growth. A spokesperson of the Ministry of Commerce, Shen Danyang, reported in a press conference that the Chinese outsourcing industry recorded a growth of 22.1 percent year on year. The total outsourcing industry was worth US$130.9 billion.
Offsource service outsourcing also recorded a growth of 21.5 percent from the previous year.
Outsourcing businesses with the European Union plummeted to 17.6 percent. Following closely behind is the United States which also registered a surge of 17.5 percent. Businesses with Japan, however, fell by 9.8 percent.
China, identified as the second largest outsourcing giant after India also entered into outsourcing deals with neighboring countries. The outsourcing industry, dubbed as the ‘green industry’ by the State Council in China, will support the growth of the service sector along with providing new opportunities for employment.
Date of Publication: January 20, 2016