Wire flash
China's service outsourcing contracts exceed 1.28 trillion yuan in first 8 months, offshore business up 4%
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
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. 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, with maintenance and repair services and research and development services seeing faster growth of 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 the total execution value.
Source report
September 25 (Cailianshe) — According to the latest data from the Ministry of Commerce, China's service outsourcing sector has maintained steady growth during the first eight months of this year, with notable increases in maintenance and repair services as well as research and development services.
From January to August, Chinese enterprises signed service outsourcing contracts worth a total of 1,285.24 billion yuan. Among these, the value of offshore service outsourcing contracts rose by 4% year-on-year.
Business Structure Highlights
- The execution value of offshore business process outsourcing (BPO) undertaken by Chinese enterprises increased by 8.3% year-on-year.
- Within this category, maintenance and repair services grew by 8.8%, while research and development services saw a 10.8% increase.
International Market Distribution
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 1.28 trillion yuan in first eight months of 2024