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China's service outsourcing industry reports robust expansion

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China

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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China unveils first self-developed mega hot isostatic pressing equipment

2024-07-20 11:37 Last Updated At:12:07

China on Friday unveiled its first self-developed mega hot isostatic pressing (HIP) equipment, marking a significant breakthrough in the material manufacturing sector.

As the largest of its kind in China, this newly released HIP equipment excels in densifying and optimizing large and intricately shaped materials under ultra-high temperature and pressure.

The HIP is a key technology used in producing high-performance materials, significantly enhancing their wear resistance, corrosion resistance, and mechanical properties.

"In simple terms, this equipment transforms ordinary materials such as metal or porcelain into high-performance ones. Through HIP, material performance is greatly improved, and the average fatigue life of the material can be increased by at least ten times, meeting the needs of extreme working conditions," said Qi Wen, leader of the mega HIP equipment project.

With wide applications, the HIP technique is suitable for both metal and non-metal materials, such as porcelain or glass. This mega equipment will advance the development of China’s aerospace, oil and gas, and machinery manufacturing sectors, enhancing China's competitiveness in the international material manufacturing arena.

China unveils first self-developed mega hot isostatic pressing equipment

China unveils first self-developed mega hot isostatic pressing equipment

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