"Compared with other cities which also target services outsourcing as a new growth engine, Shanghai should tap its knowledge-led services as it has a big pool of professionals, and we have an advantage because so many global companies locate their regional headquarters in Shanghai," said Sun Jiarong, director of trade of services department at the commission.
Outsourcing, which has grown into a trillion-dollar business over the past few years, subcontracts certain production processes, such as designing, packaging, or information management, to a third-party company. Outsourcing can help to lower costs and raise efficiency in capital, labor, or time.
Shanghai has developed the outsourcing of information technology as a key force in its services outsourcing strategy. Last year, IT outsourcing, known as ITO, accounted for 67.9 percent of the total value of services outsourcing in the city. This was a jump of 63.6 percent from a year earlier to US$2.75 billion, according to the commission. Business process outsourcing and knowledge process outsourcing are the other two areas.
The annual Global IT Outsourcing Summit will be held on Thursday and Friday with the theme of "Smart City, New Opportunity."
Wang Yanlin
Business & Investment Opportunities
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