China’s service outsourcing industry continued to grow in 2015 despite subdued economic growth, with both onshore and offshore contracts posting remarkable increases in value, official data showed on Jan 20.
Chinese companies inked service outsourcing contracts worth $130.9 billion, up 22.1 percent year-on-year, Shen Danyang, spokesperson for the Ministry of Commerce, told a press conference.
Of the total, offshore service outsourcing contracts reached $87.29 billion, rising 21.5 percent from a year earlier.
Information technology-related services accounted for nearly half of the offshore deals, Shen said.
Contracts fulfilled with businesses in the United States and European Union, two major trade partners, jumped 17.5 percent and 17.6 percent respectively in their value, while those with Japanese businesses fell 9.8 percent.
Outsourcing deals signed with countries along the Belt and Road route stood at $17.83 billion, up 42.6 percent from a year earlier.
China is the world’s second-largest service outsourcing provider after India. The State Council described the sector as a “green industry” that will be a new engine for tertiary industry and a boon to employment.