Economic review

China's service outsourcing grows rapidly

2017-09-13 10:03:00 (Beijing Time)         Xinhua

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China's service outsourcing industry's combined contracts grew by an average of 54 percent each year from 2006 to 2016, a senior official said on Tuesday.

Businesses agreed service outsourcing contracts worth 1.38 billion U.S. dollars in 2006 and 106 billion dollars in 2016, said Xian Guoyi, head of the Ministry of Commerce service trade department.

China's share of the global market rose from less than one percent to 33 percent during the period and now ranks second, said Xian, adding the next decade will continue to witness huge growth.

Service outsourcing created 1.21 million new jobs last year, with a total of 8.6 million people employed.