Recently, The Ministry of Commerce of the People's Republic of China said that it will team up with relevant departments to develop and release The 13th Five-year Plan for the International Service Outsourcing Industry of China and the Directive Catalog of Key Development Fields of Service Outsourcing Industry in order to boost the improvement of service outsourcing competitiveness, optimize industrial structure and regional layout and promote Chinese Service to further develop and go global.

 

According to Li Jun, vice director of Service Trade Institute of Chinese Academy of International Trade and Economic Cooperation (CAITEC) of The Ministry of Commerce of the People's Republic of China, the rapid increase of service trade is due to the gradual year-on-year increase of service’s share in domestic relevant industries with the persistent economic transformation and structure adjustment on one hand, and the driving effect of relevant policies.

 

Statistics of The Ministry of Commerce of the People's Republic of China indicate that Chinese enterprises signed service outsourcing contracts with a value exceeding $130 billion in 2015. In particular, the rapid development of the Belt and Road market initiates domestic industrial transfer effect. In 2015, Chinese enterprises actively explored the service outsourcing market in the countries along the Belt and Road with the contracted amount of $17.83 billion, up 42.6%, and the fulfilled amount of $12.15 billion, up 23.4%, year on year. Thanks to the Beijing-Tianjin-Hebei collaborative development strategy, Qinhuangdao, Shijiazhuang, Baoding and other cities of Hebei orderly accepted the service outsourcing industrial transfer from Beijing and Tianjin, met a great development opportunity, and achieved a provincial service outsourcing fulfilled amount of $1.16 billion, increasing 30 times year on year. Along the Yangtze River Economic Belt, Jiangxi, Hubei and Hunan actively accepted the eastern industrial transfer and achieved growth rates of 37%, 33.8% and 26.6%, respectively, in offshore service outsourcing amount, much higher than the national average.

 

The wide application of service outsourcing not only improves domestic enterprises’ professional service ability, but also promotes industrial structure transformation and upgrading, increases overall production efficiency and realizes better economic and social benefits, said Shen Danyang, spokesman of The Ministry of Commerce of the People's Republic of China. Against the backdrop of the slow global economic recovery and the higher domestic economic downward pressure in 2015, China’s service outsourcing industry shows a generally good development trend.

 

Source: Translated from Invest Guangzhou, Feb. 2, 2016