China's service outsourcing continues to grow

BEIJING - China's service outsourcing industry continued to grow in the first eight months, the Ministry of Commerce (MOC) said on Tuesday.

Chinese companies agreed service outsourcing contracts worth 629 billion yuan ($95 billion) in the period, up 31.2 percent year on year.

Among the deals were offshore service outsourcing contracts valued at 434 billion yuan, up 42.4 percent year on year, according to the MOC.

The eastern coastal provinces and cities saw total contract value reach 416 billion yuan, up 48.6 percent year on year.

Cooperation in service outsourcing with countries along the Belt and Road saw contracts valued at 76 billion yuan for the January-August period, rising 22.2 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 job creation.