China’s Services Outsourcing Industry Reports Rapid Growth in 2021

China’s services outsourcing industry saw a robust expansion in 2021, with offshore services outsourcing contract value exceeding RMB 1 trillion for the first time, data from the Ministry of Commerce showed.

In terms of scale, Chinese firms inked services outsourcing contracts worth about RMB 2.13 trillion in 2021, rising 25.4 percent year on year.

Specifically, services outsourcing with countries along the Belt and Road witnessed steady growth, with contracts valued at RMB 226.1 billion last year, a year-on-year increase of 25.7 percent.

Information technology outsourcing, business process outsourcing, and knowledge process outsourcing saw their executed contract value up to RMB 363.1 billion, 130.8 billion, and 366.1 billion respectively.