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China's service outsourcing contracts exceed 1.28 trillion yuan in first 8 months, offshore business up 4%
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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.
Source report
September 25 (Cailianshe) — China's service outsourcing sector maintained steady development in the first eight months of this year, with notable growth in maintenance and repair services as well as research and development services, according to the latest data from the Ministry of Commerce.
Key Figures
- Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan during the period.
- The value of offshore service outsourcing contracts increased by 4% year-on-year.
Business Structure
- The execution value of offshore business process outsourcing (BPO) rose by 8.3% year-on-year.
- Within this category:
- Maintenance and repair services grew by 8.8%
- Research and development services grew by 10.8%
International Market
The top three sources of offshore service outsourcing were:
- United States
- Hong Kong, China
- Singapore
Together, these three markets accounted for 53.2% of the total execution value of offshore service outsourcing.
Source
财联社Eastern
Part of this Story
China's service outsourcing contracts hit 1,285.24 billion yuan in first eight months of 2024