China targeting outsourcing potential to boost economy

New Delhi, May 19 : China's Jiangsu Province is targetting outsourcing as potential area for economic growth in the next few years.

Zhang Weiguo, the deputy governor of the province, was quoted by The China Daily as saying that a national strategic blueprint to develop the outsourcing industry is being given due consideration by the authorities.



He said the blueprint aims to provide new and diversified modes of economic growth to keep up with global trends and achieve sustainable development.

China's economy has grown rapidly in the last 15 years, and service industry outsourcing has in recent years emerged as a new economic growth point, particularly in Shanghai, Tianjin, Dalian and Shenzhen.

"We have great advantages in technology and human resources to compete and have a big share in the outsourcing service market," Zhang was quoted, as saying.

One of the fastest developing and wealthy provinces in the country, Jiangsu boasts a large number of hi-tech enterprises and companies in information technology, software, electronic information and telecommunications.

Statistics show the province yielded revenue of 200 million dollars from outsourcing services in 2006. Apart from Nanjing, the provincial capital and one of a dozen State-designated outsourcing base cities, six cities - including Suzhou, Wuxi and Changzhou - were recently named provincial-level outsourcing base cities by the provincial department of foreign trade and economy.

Fifty companies out of 1,000 from these cities were chosen to be key outsourcing enterprises.