Ser­vice out­sourc­ing grows rapidly

China Daily (USA) - - BUSINESS -

China’s ser­vice out­sourc­ing in­dus­try’s com­bined con­tracts grew by an av­er­age of 54 per­cent each year from 2006 to 2016. Busi­nesses agreed to ser­vice out­sourc­ing con­tracts worth $1.38 bil­lion in 2006 and $106 bil­lion in 2016, said Xian Guoyi, head of the Min­istry of Com­merce ser­vice trade depart­ment. China’s share of the global mar­ket rose from less than 1 per­cent to 33 per­cent dur­ing the pe­riod and now ranks sec­ond, said Xian, adding the next decade will con­tinue to wit­ness huge growth. Ser­vice out­sourc­ing cre­ated 1.21 mil­lion new jobs last year, with a to­tal of 8.6 mil­lion peo­ple em­ployed.

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