
![]() |
The executed contract value of the offshore service outsourcing served by China reached 35.7 billion dollars from January to August, 2015.
The executed contract value of offshore services outsourced to China saw an increase from 4.7 billion dollars to 55.9 billion dollars from 2008 to 2014, meaning China’s share of the global market for offshore service outsourcing grew from 7.7 percent to nearly 30 percent.
Accelerated development in offshore service outsourcing will encourage people to start their own businesses.
For instance, 125,000 people work in 1,448 service outsourcing enterprises including 344 offshore outsourcing enterprises in central China's Henan province. The contract value and executed contract value of offshore service outsourcing in Henan province reached 650 million dollars and 550 million dollars respectively.
China's offshore service outsourcing is confronted with new challenges such as rising labor costs, a decreasing demographic dividend and competition for a say over international trade rules across the world, according to Gu Yongjiang, former deputy minister of China's Ministry of Foreign Trade and Economic Cooperation.
"China sees downward pressure on GDP growth and feels this pressure on import and export trade in particular,” according to Yao Jingyuan, senior researcher at the Counselors' Office of China's State Council. Yao added that China should rely on innovation to drive the economic growth.
China and the countries along the Belt and Road share strong economic complementarities and these countries are important markets for China's offshore service outsourcing, according to Gu.
Photos of U.S. Navy intruding in South China Sea released
Cats who immediately regretted their life choices in photographs
Beautiful girl from police college becomes Internet hit
10 tons of copper coins unearthed in 2,000-yr old tomb
In Pics: Amazing Chinese fighters
When a Chinese woman marries an Indian man
Love beyond limit of heights in the world
Photos of beautiful teacher hit the Internet
Transparent Over-cliff Path Cracked Suddenly
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
10 Chinese female stars with most beautiful faces
China’s Top 10 Unique Bridges, Highways and Roads
From emperor to brother
APEC chance to mend Sino-Philippine ties
Singles’ Day bigger than ever, but to what end
Google reportedly planning a return to China, eyeing app marketDay|Week