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Chinese businesses see surging service outsourcing contracts

Xinhua, August 17, 2016 Adjust font size:

Chinese businesses saw a surge in service outsourcing contracts in the first seven months despite a slowing economy, latest data from the Ministry of Commerce (MOC) showed Wednesday.

Chinese companies inked service outsourcing contracts worth 560.8 billion yuan (85 billion U.S. dollars) in the period, up 32.1 percent year on year, the MOC disclosed at a press conference.

Among the deals were offshore service outsourcing contracts valued at 387.4 billion yuan, surging 44.6 percent year on year.

Cooperation in service outsourcing with countries along the Belt and Road saw quicker growth, with contracts valued at 67.96 billion yuan for the January-July period, rising 24.1 percent from a year ago.

China's service outsourcing sector was described by the State Council as a "green industry" that will be a new engine for tertiary industry and a boon to increasing employment. Endit