China’s service outsourcing contracts up 12.9%
Service outsourcing contracts signed by Chinese firms rose to 12.9% year-on-year in the first nine months of 2022, said the Ministry of Commerce.
According to the latest data released by the ministry, the sector secured deals worth 1.379 trillion yuan (US$192.7 billion) from January to September.
Meanwhile, the executed contract value came in at 947.1 billion yuan during the same period, with a year-on-year increase of 12.6%.
Of the total, the value of the offshore service outsourcing contract rose 12.6% over the same period last year to 782.4 billion yuan.
Regarding the executed contract value, China’s outsourcing contracts with the United States (US), the European Union (EU), and members of the Regional Comprehensive Economic Partnership expanded by 7.1%, 14.1%, and 8.2% y-o-y, respectively.
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