Service outsourcing industry posts steady growth

Added On October 31, 2020

Chinese firms inked service outsourcing contracts worth about 987 billion yuan (about 142 billion U.S. dollars) in the January to September period, up 11.4 percent year on year. Outsourcing is the business practice of hiring a party outside a company to perform services and make goods traditionally undertaken by the company's employees. In China, service outsourcing is typically divided into three sub-sectors: information technology outsourcing, business process outsourcing, and knowledge process outsourcing.