The Ministry of Commerce has reported a consistent expansion in China’s service outsourcing industry during the initial seven months of this year.
Over this period, Chinese enterprises engaged in service outsourcing ventures valued at 1.26 trillion yuan (equivalent to approximately 175 billion U.S. dollars), reflecting a substantial 15.5 percent surge in comparison to the previous year.
Among this total, the worth of offshore service outsourcing agreements escalated by 17.1 percent year on year, reaching 719.5 billion yuan.
Within the timeframe of January to July, the sector introduced approximately 370,000 fresh job recruits, with an impressive 72.6 percent of these individuals possessing a university degree or higher.
Outsourcing, a practice involving the delegation of services or manufacturing tasks to external entities, diverges from the conventional approach of utilizing in-house staff.