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China's service outsourcing industry reports robust expansion

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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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China supports all efforts leading to peaceful resolution of Ukraine crisis: spokesman

2024-06-14 23:58 Last Updated At:06-15 00:17

China welcomes and supports all kinds of efforts conducive to a peaceful resolution of the Ukraine crisis, said a Foreign Ministry spokesman on Friday.

At a regular press briefing in Beijing, spokesman Lin Jian made the statement in response to a media query regarding the Summit on Peace in Ukraine, which will be held in Switzerland from June 15 to 16.

"China welcomes and supports all efforts for peace. Our position on the Summit on Peace in Ukraine to be held in Switzerland is fair and just and we've been open and clear about our position. China has maintained close communication with Switzerland, Ukraine and other parties on issues related to the summit and encouraged equal participation and fair discussion of all plans at the summit," said Lin.

"The six common understandings by China and Brazil have received positive response from over 100 countries. They reflect the universal expectation of the world and represent the broadest common ground of countries in the world on this issue. We welcome more countries to support and endorse the six common understandings," he said.

China supports all efforts leading to peaceful resolution of Ukraine crisis: spokesman

China supports all efforts leading to peaceful resolution of Ukraine crisis: spokesman

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