China's service outsourcing contracts hit 1,285.24 billion yuan in first eight months of 2024
China's Ministry of Commerce reported on September 25 that the country's service outsourcing industry grew steadily in the first eight months of 2024. Chinese enterprises signed contracts worth 1,285.24 billion yuan. Offshore contract value rose 4% year-on-year, with offshore business process outsourcing execution value up 8.3%. Maintenance and repair services grew 8.8% and R&D services 10.8%. The United States, Hong Kong (China), and Singapore were the top three offshore sources, accounting for 53.2% of total offshore execution value.
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China's Service Outsourcing Grows Steadily in First Eight Months, Led by Maintenance and R&D
According to data released by China's Ministry of Commerce on September 25, the country's service outsourcing industry developed steadily in the first eight months of 2024. Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan during this period. Offshore service outsourcing contract value increased by 4% year-on-year. By business structure, the execution value of offshore business process outsourcing grew by 8.3% year-on-year. Within this, maintenance and repair services and research and development services saw faster growth, rising 8.8% and 10.8% respectively. From an international market perspective, the United States, Hong Kong (China), and Singapore were the top three sources of offshore service outsourcing, together accounting for 53.2% of total offshore service outsourcing execution value. The data was reported by CCTV News and summarized by financial data provider Jin10.
Read sourceChina's service outsourcing grows steadily in first eight months of 2024
According to the latest data from China's Ministry of Commerce, the country's service outsourcing industry developed steadily in the first eight months of 2024. Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan during this period. The value of offshore service outsourcing contracts grew by 4% year-on-year. By business structure, the execution value of offshore business process outsourcing increased by 8.3% year-on-year. Within this, maintenance and repair services grew by 8.8%, and research and development services grew by 10.8%, showing faster growth. The top three sources of offshore service outsourcing were the United States, Hong Kong (China), and Singapore, which together accounted for 53.2% of the total offshore execution value.
China's Service Outsourcing Grows Steadily in First Eight Months, Ministry of Commerce Data Shows
According to the latest data from China's Ministry of Commerce released on September 25, the country's service outsourcing industry has developed steadily in the first eight months of 2024. Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan during this period. Offshore service outsourcing contract value increased by 4% year-on-year. By business structure, the execution value of offshore business process outsourcing grew by 8.3% year-on-year. Notably, maintenance and repair services and research and development services saw faster growth, rising 8.8% and 10.8% respectively. In terms of international markets, the United States, Hong Kong (China), and Singapore were the top three sources of offshore service outsourcing, together accounting for 53.2% of total offshore service outsourcing execution value.
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China's service outsourcing grows steadily in first eight months, led by maintenance and R&D services
On September 25, China's Ministry of Commerce released data showing steady development of the country's service outsourcing industry in the first eight months of the year. Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan during this period. Offshore service outsourcing contract value increased by 4% year-on-year. In terms of business structure, the execution value of offshore business process outsourcing grew by 8.3%, with maintenance and repair services rising 8.8% and research and development services increasing 10.8%. The top three sources of offshore service outsourcing were the United States, Hong Kong (China), and Singapore, which together accounted for 53.2% of total offshore service outsourcing execution value.
Read sourceChina's Service Outsourcing Grows Steadily in First Eight Months, Ministry Data Shows
According to the latest data from China's Ministry of Commerce, the country's service outsourcing industry developed steadily in the first eight months of this year, with notable growth in maintenance and repair services as well as research and development services. From January to August, Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan. Offshore service outsourcing contract value increased by 4% year-on-year. By business structure, the execution value of offshore business process outsourcing grew by 8.3%, with maintenance and repair services up 8.8% and R&D services up 10.8%. The top three offshore service outsourcing sources were the United States, Hong Kong, and Singapore, together accounting for 53.2% of total offshore execution value.
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