The country has also allowed the Contract Development Manufacturing Organization－or CDMO model－to help research-oriented companies focus on R&D while outsourcing drug development and manufacturing.
"In the newly-established biopharma special zone, Boehringer Ingelheim will also present a "one-stop" biopharma contract development and manufacturing organization services, a common way to outsource drug development and manufacturing.
China's innovative medicine industry has been developing fast, due to facilitating policies and regulations, better access to capital investment, and the global shift of the pharmaceutical R&D outsourcing industrial chain in favor of China, which spurs the need for clinical trial patient recruitment.
For leased data centers, Baidu will reduce PUE by outsourcing the technology and migrating the computing power requirements to reduce total carbon emissions, establish smart and energy efficient office buildings, use Baidu's intelligent transportation initiatives to reduce the carbon emissions produced traditionally by road traffic, and use Baidu AI Cloud to support the operations of industry stakeholders in their energy conservation and emission reduction efforts.
In 11 years, the company became very successful in strategic risk and treasury outsourcing before he became a senior partner at PwC in strategy and post-merger integration.
Service outsourcing companies, most of whom have resumed normal operations, have come up with software applications for corporate clients to remotely manage and ensure the health of employees.
Most of these made progress in work resumption as China has urged local governments to provide assistance, such as introducing special working-hour schedules, to support service outsourcing companies.
Outsourcing is a business practice where a company hires another company to perform tasks.
Advanced technologies enable service outsourcing companies, especially information technology service providers, to develop solutions aimed at restarting work while effectively ensuring virus prevention.
"According to a circular recently unveiled by the commerce ministry, provincial and city-level governments should ensure the supply of anti-epidemic materials to large-scale service outsourcing businesses, and organize catering enterprises to offer "mobile canteens" and food take-away services.
To prevent possible infection caused by the novel coronavirus outbreak, local governments also should guide service outsourcing companies to adopt flexible working hours to carry out the work.
In 2019, the value of outsourcing contracts for services performed by Chinese enterprises amounted to 1.57 trillion yuan ($223.7 billion), up 18.6 percent year-on-year, according to the ministry.
To reduce operating costs, Indian metro operators in various cities outsource the maintenance and daily management of subway stations to the private sector.
Huifu Information Technology, a company related to third-party payment firm Huifu Payment, announced on Thursday it will launch an outsourcing service dedicated to private equity funds.
Using its indigenous platforms backed by algorithms, cloud structures and blockchain technologies, Huifu Information stands to streamline a number of administrative processes such as fund-valuation calculation and outsourcing registration.
The outsourcing service will enable fund managers to focus more efforts on their core responsibilities, investing their clients' funds and minimizing operational risks, thanks to a continuity of services, as well as specialist knowledge provided by third-party administrators, said Zhao Zenghui, general manager of Huifu Information.
However with the institutionalization of private equity, and the growth in the size and number of funds, in-house operating models are no longer scalable, which is propelling the growth of outsourcing services, experts said.
From our vantage point, continued economic growth, the e-commerce boom and the trend to outsource one's logistics needs make China a critical part of DPDHL Group's global growth and strategy.
Smaller but more automated solutions will better meet needs from Chinese hospitals and other facilities that lack skilled technicians, especially as Chinese authorities have been encouraging clinical facilities to run tests by themselves instead of outsourcing all samples to third-party testing facilities, according to Hou Jun, sales manager of DGG, Agilent Greater China.
"Clients are looking to cut costs and, instead of designing products themselves, they are outsourcing it to Chinese companies," Ma told China Daily.
Carsten Hirschberg, a senior partner with consulting firm McKinsey & Co, said it is possible that in the future even lower-end traditional-delivery restaurants will migrate to new delivery platforms because they will find it more cost efficient to outsource logistics.
Similar to the business models of major Chinese e-commerce platforms such as Taobao and JD, the company provides an online IT and software platform where users can search for desired IT services, while outsourcing companies, especially small and medium-sized ones, can find business opportunities.
Driven by increasing orders, the Nanjing, Jiangsu province-based company is exploring uncharted territory in the IT and software sector by establishing JointForce, an open cloud platform linking companies, engineers and outsourcing providers.
Unlike its main competitors that outsource or contract out manufacturing, Ecovacs is a vertically-integrated company.
The Swiss-based company said in a press release it will outsource the IT jobs to Spain.
Leading contract research outsourcing provider WuXi AppTec saw its A-share price jump by the daily limit of 10 percent again on Friday after 13 consecutive trading days of gains to 107.36 yuan ($16.80).
Currently, most Chinese cartoon producers are following two paths: as outsource service providers or independent product developers.
French business outsourcing service provider Sodexo signed a global partnership agreement on Tuesday with world’s leading information and communications technology company Huawei Technologies Co Ltd, under which Sodexo will provide integrated facilities management services to Huawei.
"As such, financial institutions must ensure their outsourcing vendors maintain the same anti-money laundering compliance control standards as the financial institutions themselves. "
Following the 2015 acquisition of EKOL, a leading turbine manufacturer in the Czech Republic, the group has been establishing a global market and R&D system ranging from technology, personnel, finance and marketing to service, procurement and outsourcing businesses.
"There are 276 employees at the PCT with outsourcing staff accounting for more than 1,200, but there are only seven Chinese managers including me.
Hainan and ASEAN can strengthen cooperation in areas of finance, cross-border e-commerce, service outsourcing, intellectual property, video games, film and television production, creative design and professional services, Wang said.
The scale of offshore service outsourcing is steadily expanding, and the effects of industry transformation and upgrading are evident, as shown in the 2022 China service trade development report, compiled under the leadership of the Ministry of Commerce and published at a forum held during the ongoing 2023 China International Fair for Trade in Service.
As an important way of service trade, service outsourcing has also maintained a sustained and stable growth trend and contributed to the overall growth of service trade.
The ministry will create a sound digital business environment, promote the digitalization of service outsourcing, and build national digital service export bases with high standards, Wang added.
The country will also build high-standard service outsourcing demonstration cities to cultivate new forms and models of services trade in various sectors, thus creating fresh momentum in service exports, said Chen.
It provokes decoupling, breaks global industrial and supply chains, expects to force industrial reshoring through unilateral levying of tariffs, tries to establish US-centered industrial and supply chains through massive and exclusive industrial subsidies, and promotes friendly-shoring outsourcing based on its so-called sharing similar values.
Zheng Wei, a researcher with the Shanghai-based China Outsourcing Institute, said closer cooperation among the BRICS countries will unleash more potential for development in not only themselves but the whole world.
Platforms providing professional services should expand their outreach and start to outsource certain services.
To secure its industrial supply chains, the US moved to promote the reshoring of its manufacturing players, friendshoring in India and Southeast Asia for outsourcing, and nearshoring by forming a North American alliance with Canada and Mexico.
Facilitating data flow in major scenarios such as cross-border payment, e-commerce, data outsourcing and supply chain will be the main targets in the near future for International Data Port Co, which is tasked with helping Lingang Special Area of China (Shanghai) Pilot Free Trade Zone realize the strategic goal of becoming a global data hub.
The cooperation between Chinese and Philippine companies in the fields of services outsourcing, logistics, agriculture, steel and telecommunications has also shown strong vitality in recent years, she noted.
The double-digit growth in China's services outsourcing sector in the first three quarters suggests the country will continue to play an active role in global economic cooperation and create more opportunities for companies to expand their business activity in the sector, experts said.
The remarks came after data from the Ministry of Commerce on Wednesday showed that Chinese enterprises were involved in services outsourcing business with a contract value totaling $212.4 billion and execution value reaching $145.6 billion in the first three quarters, up 15.8 percent and 15.3 percent year-on-year, respectively.
"The increase in the total value of services outsourcing in the January-September period showed that China is still playing a very active role in participating in global economic cooperation, of which service-oriented business is an important feature," said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.
"More importantly, the growth of services outsourcing suggests large potential for companies to expand their market in the field," Zhou said.
Contract value of offshore services outsourcing business during the period hit $120.7 billion, and execution value reached $84.7 billion, up 15.2 percent and 12.3 percent year-on-year, respectively.
"The growth rate of offshore services outsourcing business was lower than the overall growth rate, suggesting that the sector developed faster in the domestic market and demand for services outsourcing at home is increasing.
Zhou added that currently the development of services outsourcing in sectors like finance and biotechnology relies heavily on technical innovation, which will also promote development of relevant industries.
In addition, the development of services outsourcing — unlike trade in goods — is intangible and relies more on trustworthiness, which helps improve the social credit system.
"The latest data show that businesses with higher requirements for technical innovation, such as new energy and information technology, are new highlights of services outsourcing development, attracting the attention of enterprises and reflecting the direction of market development," he said.
The ministry said businesses engaged in services outsourcing related to new energy technology research and development, information technology as well as internet marketing and promotion grew faster than other sectors, up 160 percent, 128.5 percent and 58.9 percent year-on-year, respectively.
The ministry said private enterprises were involved in 168.4 billion yuan in offshore services outsourcing, accounting for 30.6 percent of the total, up 27.3 percent year-on-year and 17.6 percentage points higher than the overall average growth rate.
For example, a company may place its employees in key positions of strategic importance, while outsourcing or bringing in flexible employment for peripheral activities.
"Heilongjiang province will continue to expand the scale of foreign trade and promote the steady development of foreign trade by strengthening the role of trade platforms, accelerating the development of trade digitalization and focusing on the outsourcing work of key foreign trade enterprises," said Wang Xianhua, deputy director of the provincial department of commerce.
The scale of offshore service outsourcing increased 2.9 times, and the service outsourcing industry created 11.27 million jobs accumulatively in the past decade.
Policies will be rolled out to support service outsourcing industries to hire graduates.
Policies will be rolled out to support the hiring of graduates in service outsourcing industries.
On the other, they are expected to expand trade in agricultural products, energy and resources, high-tech, equipment manufacturing and modern services in the coming years, said Zheng Wei, a researcher with Shanghai-based China Outsourcing Institute, a research body operating under the aegis of the Ministry of Commerce.
- China's service outsourcing industry notched a steady expansion during the January-May period, data from the Ministry of Commerce showed.
Chinese firms inked service outsourcing contracts worth about 726.6 billion yuan ($108.29 billion) in the first five months, up 11.9 percent year-on-year.
Outsourcing is the business practice of hiring a party outside a company to perform services and make goods traditionally undertaken by the company's employees.
Of the total, offshore service outsourcing contract value rose 13.2 percent from a year ago to 412.9 billion yuan, with the executed contract value rising 11.1 percent from a year earlier to 263.9 billion yuan in the January-May period.
"Managing such a large project is never easy," she said, adding that working remotely made it even more challenging, as she had to coordinate with more than 20 suppliers and subcontractors－some of them outsourcing part of their business.
German pharmaceutical company Boehringer Ingelheim pledged to be a co-building partner of the cluster by adopting the contract development manufacturing model, a common way to outsource drug development and manufacturing.
For instance, online healthcare and online education have been booming since the second half of last year, said Xing Houyuan, director of the Beijing-based China Service Outsourcing Research Center.
Some airline companies outsource their engine maintenance.
- China's service outsourcing industry reported stable growth in the first 11 months of 2020, according to the Ministry of Commerce.
Chinese firms inked service outsourcing contracts worth about 1.3 trillion yuan (about $187.9 billion) in the Jan-Nov period, up 12.9 percent year-on-year.
Of the total, offshore service outsourcing contracts reached 765.88 billion yuan during the period, up 11.5 percent year-on-year.
Service outsourcing with countries along the Belt and Road totaled 99.12 billion yuan in terms of the fulfilled contract value, up 8.1 percent from a year ago.
In China, service outsourcing is typically divided into three sub-sectors: information technology outsourcing, business process outsourcing and knowledge process outsourcing.
After the tech startup moved into a small and medium-sized enterprises' incubator in Donghu High-tech Zone, Shen could completely devote himself to software development while outsourcing the company's administrative functions to a third party.
If a product becomes a hit at the seller, he would outsource that to external factories for mass production.
China's service outsourcing industry saw steady expansion in the first seven months of this year, according to the Ministry of Commerce.
Chinese firms undertook service outsourcing contracts worth 1.26 trillion yuan ($175 billion) during the period, up 15.5 percent year-on-year.
Of the total, the value of offshore service outsourcing contracts rose 17.1 percent year-on-year to 719.5 billion yuan.
Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees.
- China's service outsourcing industry saw steady expansion in the first half of this year, according to data from the Ministry of Commerce.
Chinese firms inked service outsourcing contracts worth nearly 1.1 trillion yuan (about $153.9 billion) during the period, up 10.6 percent year-on-year.
Of the total, the value of offshore service outsourcing contracts rose 15.1 percent compared to the same period last year, reaching 630 billion yuan.
In terms of the executed contract value, offshore service outsourcing involving the United States, the European Union and members of the Regional Comprehensive Economic Partnership expanded 16.4 percent, 14.8 percent and 22.2 percent year-on-year, respectively, in the first six months of 2023.
Chinese visa applications have witnessed a strong rebound this year, driven by pent-up travel demand after the reopening of international borders and removal of quarantine requirements early this year, according to VFS Global, the world's leading visa application outsourcing and technology service provider.
- China's service outsourcing industry saw a steady expansion in the first quarter of this year, according to data from the Ministry of Commerce on Friday.
Chinese firms inked service outsourcing contracts worth approximately 576.8 billion yuan ($83.9 billion) in the first three months of the year, up 18.2 percent year-on-year.
Of the total, the value of offshore service outsourcing contracts rose 18.1 percent year-on-year to about 312.7 billion yuan.
In terms of executed contract value, offshore service outsourcing contracts with the United States, the European Union and members of the Regional Comprehensive Economic Partnership expanded 21.7 percent, 32.2 percent and 34.3 percent, respectively.
During the period, the offshore service outsourcing undertaken by China's private sector accounted for 27.8 percent of the country's total, while that undertaken by foreign-funded companies accounted for 49.7 percent.
Outsourcing is the hiring of a third party to carry out services or produce goods typically undertaken by in-house employees.
Well, you're in luck, because the rise of on-demand home-cooking services has made it easier than ever to outsource even the most mundane tasks.
China's service outsourcing industry saw a steady expansion in 2022, data from the Ministry of Commerce showed.
Chinese companies sealed service outsourcing deals worth about 2.44 trillion yuan ($363.32 billion) last year, surging 14.2 percent on a yearly basis, the ministry said in an online statement.
Of the total, the value of Chinese businesses' offshore service outsourcing contracts rose 16.7 percent on a yearly basis to 1.32 trillion yuan in 2022.
In terms of the executed contract value, offshore service outsourcing with the United States and the European Union amounted to 187.8 billion yuan and 123.2 billion yuan, respectively, last year.
One main forum and seven specialized sub-forums will be held during the fair, where participants will discuss hot issues in digital trade, cross-border e-commerce, intelligent manufacturing, traditional Chinese medicine services and service outsourcing.
At the forum, the China Service Outsourcing Development Report 2021 was released to comprehensively deepen the implementation of innovative development of the service trade.
The value of service outsourcing contracts by Chinese enterprises hit $322.4 billion, a year-on-year increase of 30.9 percent in 2021, the report said.
China's service outsourcing industry saw a steady expansion in the first 10 months of this year, according to data from the Ministry of Commerce.
Chinese firms inked service outsourcing contracts worth about 1.54 trillion yuan ($216 billion) in the January-October period, up 14.4 percent year-on-year.
Of the total, the value of the offshore service outsourcing contract rose 14.6 percent over the same period last year to 875.7 billion yuan.