China's FY13 Int'l Service Outsourcing Soars 42%

(RTTNews) - China's international service outsourcing aggregated $62.34 billion in 2013, an increase of 42.2 percent from last year, according to data provided by the Commercial and Trade Services Department at the Ministry of Commerce.

A break-up of international service outsourcing for mainland China shows contracts of $11.75 from the U.S., $7.14 billion from the European Union, $5.4 billion from Hong Kong, and $5.18 billion from Japan, according to the Chinese news agency Xinhua.

Information technology outsourcing garnered the maximum with $31.17 billion, an increase of 36.8 percent from last year, while business process increased 25.8 percent to $9.72 billion from a year ago. Knowledge process increased 60.8 percent to 21.45 billion from last year.

Aggregate contract volume advanced 55.8 percent to $95.49 billion in 2013, when compared to 2012.

China's service outsourcing sector currently employs 5.36 people, up one million from last year. There were about 24,818 companies in the business during 2013.