By Narayan Ammachchi
China’s offshore services industry earned $8.1 billion in revenue in the first three months 2013, reports China Daily quoting an unnamed government official as saying.
The Chinese paper also stated that the domestic outsourcing service providers had received $11.7 billion in contracts during the same period, an increase of 43.6 percent when compared to the same period last year.
The official who spoke to the paper is with the Commerce Ministry and was attending a forum held in Fuzhou, capital of Fujian province.
As of March, China’s service outsourcing industry has 4.46 million employees, and 67.7 percent of them are college graduates. The communist country generates 350,000 computer science graduates every year and these professionals get half the salary of their counterparts in India.
China has long been trying to outsmart India in the global outsourcing market. Many Latin American countries too have invested in China’s outsourcing sector. Brazilian IT companies such as Stefanini and Ci&T have delivery centers on the Chinese mainland.
According to reports in Chinese papers, the communist government is aiming to increase its outsourcing sector by 30% annually over the next three years.