China's service outsourcing industry sees steady growth in January-July
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E-mail Xinhua, August 20, 2023
China's service outsourcing industry saw steady expansion in the first seven months of this year, according to the Ministry of Commerce.
Citizens handle business in Shanghai's Pilot Free Trade Zone Lingang Special Area in east China's Shanghai, May 12, 2023. (Xinhua/Ma Ning)
Chinese firms undertook service outsourcing contracts worth 1.26 trillion yuan (about US$175 billion) during the period, up 15.5% year on year.
Of the total, the value of offshore service outsourcing contracts rose 17.1% year on year to 719.5 billion yuan.
In the January-July period, the industry welcomed about 370,000 new hires, with 72.6% of these individuals holding a university degree or above.
Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees.
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