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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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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 surging 10.8%. The top three sources of offshore service outsourcing were the United States, Hong Kong (China), and Singapore, together accounting for 53.2% of total offshore execution value.
Source report
September 25 — The latest data from the Ministry of Commerce shows that China'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 (R&D) services.
Key Figures
- Total contract value: Chinese enterprises signed service outsourcing contracts worth 1,285.24 billion yuan during the January–August period.
- Overseas contracts: The value of offshore service outsourcing contracts increased by 4% year-on-year.
Business Structure
- Offshore business process outsourcing (BPO) execution value rose by 8.3% year-on-year.
- Among these, maintenance and repair services grew by 8.8%, and R&D services increased by 10.8%, both showing relatively fast growth.
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 offshore service outsourcing execution value.
Source
同花顺财经Eastern
Part of this Story
China's service outsourcing contracts hit 1.28 trillion yuan in first eight months of 2024