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Scholz visits Tongji University, German company in Shanghai

China

Scholz visits Tongji University, German company in Shanghai
China

China

Scholz visits Tongji University, German company in Shanghai

2024-04-15 20:54 Last Updated At:22:07

German Chancellor Olaf Scholz arrived Monday in Shanghai -- the second leg of his current China visit, where he and his delegation visited Tongji University and a German polymer producing company based in the megacity.

Scholz gave a short speech at Tongji University and interacted with Chinese students.

Tongji University was founded by a German doctor in 1907 and is engaged in many education projects jointly with German universities.

Thereafter, Scholz went to German polymer maker Covestro in Shanghai's Pudong New Area. Polymer is used in chemicals, biology and material science.

The German leader is accompanied by a large delegation of representatives from well-known German firms. The heads of German auto-makers Mercedes-Benz, BMW, Volkswagen, technology firm Siemens, elevator maker Thyssen Krupp are part of the high-profile group.

Almost all of these conglomerates have their offices in Shanghai or operate factories in nearby cities.

"It's always a very nice occasion to come to Shanghai. There is a lot of business over here. Of course we have many businesses here. We've visited here already during this year. [I've visited] Shanghai a couple of times. It's a huge business area," said Miguel Angel Lopez Borrego, CEO of Thyssenkrupp.

"The number one is coming to China. We've been already working for a long, long time with our customers here in China. We have long-term relationships. The main message would be that technology is changing so fast, there is no company and no country in the world that can master all the technology, challenges alone," said Roland Busch, CEO of Siemens.

Shanghai is the second stop of Scholz's three-day official visit to China which started on Sunday. The German Chancellor visited southwest China's Chongqing Municipality before coming to Shanghai.

Scholz is expected to meet with officials in Shanghai before heading to Beijing in continuation of the China visit.

Scholz is on his second visit to China since taking office in 2021.

Scholz visits Tongji University, German company in Shanghai

Scholz visits Tongji University, German company in Shanghai

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China's service outsourcing industry reports robust expansion

2024-05-22 04:25 Last Updated At:05:37

⁠⁠⁠⁠⁠⁠⁠China's service outsourcing industry saw robust expansion in the first four months of this year, the Ministry of Commerce said on Tuesday.

Chinese firms inked services outsourcing contracts worth a total of some 781.43 billion yuan (about 110 billion U.S. dollars) in the four-month period, up 14.4 percent year on year, according to the ministry.

The executed contract value stood at 520.51 billion yuan, a year-on-year increase of 12.9 percent.

Of the total, the value of offshore service outsourcing contracts rose 8.6 percent year on year to 419.04 billion yuan.

Specifically, the value of offshore information technology outsourcing (ITO) services provided by Chinese companies jumped by 10.9 percent from a year earlier.

China's Hong Kong Special Administrative Region, the United States and the European Union ranked the top three markets in terms of the fulfilled contract value of offshore outsourcing service, accounting for 54 percent of the total.

Chinese firms undertook nearly 80 billion yuan(about 14.93 billion U.S. dollars) worth of offshore service outsourcing contracts that were fulfilled with countries participating in the Belt and Road Initiative, up 24 percent from a year ago, while the offshore outsourcing services for Regional Comprehensive Economic Partnership (RCEP) member countries totaled 73.26 billion yuan, up 16.6 percent year on year.

Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees. In China, service outsourcing is typically divided into three sectors: information technology outsourcing, business process outsourcing and knowledge process outsourcing.

In the January-April period, the service outsourcing industry welcomed about 301,000 new hires, with 84.7 percent of these individuals holding a bachelor's degree or above. The sector had over 16.17 million employees at the end of April, among whom some 10.56 million were graduates with a bachelor's degree or higher.

China's service outsourcing industry reports robust expansion

China's service outsourcing industry reports robust expansion

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