July 27, 2006
China to Promote Outsourcing Business
China has become one of the major outsourcing destinations for the companies that are doing off shore business. Although China is still lagging behind India on outsourcing, it has made significant progress over the past few years. In order to give a boost to its outsourcing industry, the Chinese government has decided to prioritize service outsourcing in the coming years. The government will establish specific policies to encourage service outsourcing in China.
For long, the Chinese government has been seen opposed to outsourcing. However, the situation has changed to a great extent. The government will also provide enterprises with financial support such as low-interest loans and insurance of credit for large-scale offshore projects. The government has also decided to persuade 100 multinational corporations to transfer their outsourcing businesses to China. If everything goes as per the schedule, China will definitely become a major hub for outsourcing activities.
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