33) Outsourcing to Boost Economy

“Outsourcing has emerged as a fast-developing industry and will promote the growth of the province's economy in the future.” said Zhang Weiguo, deputy governor of Jiangsu Province.

China's economy has been developing very fast in the past fifteen years. And in recent years the outsourcing industry has turned out to be a new economic growth point, especially in Dalian, Shenzhen, Tianjin and Shanghai. One of China’s the most fastest developing and wealthy provinces, Jiangsu has a large amount of hi-tech firms in, telecommunications, information technology, software and electronic information.

Statistics indicate that in 2006 the revenue of the outsourcing indddustry of Jiangsu was $200 million. The provincial government plans to adopt new measures to accelerate the development of this new sector. In addition to the capital city, Nanjing, the provincial department of foreign trade and economy recently named six cities such as Suzhou, Wuxi and Changzhou the provincial-level outsourcing base cities. Five percent of outsourcing companies of these cities were selected to be key outsourcing companies.