The growth of China’s service outsourcing industry quickened in the first 11 months on strong overseas demands, latest data from the Ministry of Commerce show.
Chinese businesses inked service outsourcing contracts worth 836.09 billion yuan (US$120 billion) during the January-November period, up 17.5 percent year on year.
It was faster than the 9.5-percent rise seen in the first 10 months.
Among the deals were offshore service outsourcing contracts valued at 552.7 billion yuan, rising 17.1 percent.
China is the world’s largest service outsourcing provider after India. The State Council described the sector as a “green industry,” a new engine for tertiary industry and a boon to increasing employment. Service outsourcing contracts from the US and the EU both rose.
ARTICLE SOURCE: Shanghai Daily