Beijing-Sana
Data released by the Chinese Ministry of Commerce today showed that the service outsourcing industry in China recorded steady growth during the past eight months of this year.
According to the ministry's data, Chinese companies signed service outsourcing contracts worth about 189.1 billion US dollars between January and August, an increase of 12.5 percent year on year.
The value of contracts executed during the same period increased by 12.8 percent year on year, as outsourcing activities with the United States, the European Union and RCEP members expanded by 8.8 percent, 15 percent and 8.9 percent, respectively.
Outsourcing of services is based on hiring an outside party to perform services or produce goods, usually performed by internal employees.
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