China's service outsourcing market reports steady H1 growth

China's Commerce Ministry says the country's outsourcing services in the first half of 2019 showed positive trends while figures remained stable. A senior ministry official said success of these services, which range from cloud computing to artificial intelligence, shows that this facet of China's economy will likely remain strong.

Contracts for China's outsourcing services reached nearly 710 billion yuan (103.23 billion U.S. dollars) in the first half of the year. That's just shy of 102 billion US dollars. It was a 30 percent increase over the same period last year. The implemented amount was 406 billion yuan, or 58 billion US dollars, up nearly 12 percent.

1800 newly-added service outsourcing enterprises joined the market, creating 225,000 new jobs.

The Chinese Commerce Ministry says that the structure of China's outsourcing services has been optimizing.

"New types and models of outsourcing services have been emerging, including cloud computing, artificial intelligence and big data, and they have vigorously facilitated the digitization of industries," said Fan Shijie, a senior official with Chinese Commerce Ministry.

Services expanded in key markets, including markets along the Belt and Road. The implemented amount from Hong Kong has increased by 15 percent. From the European Union it was up 20 percent, and Russia saw a rapid growth of 57 percent.

"The Commerce Ministry will follow the outsourcing service's trend of digitizing, more intelligent, high-end, and converging,to facilitate China's outsourcing service transformation towards high-tech, high added value, high quality and high benefits. In that case, China will be able to enhance the influence and international competitiveness of Chinese services," Fan said.