The 11th ChinaSourcing Summit was held Oct 19-21 in Hangzhou. The summit aims to boost the internet connection of all things, expand the outsourcing services of digitization projects, and build smart societies.
The summit, which was both online and in physical forms, hosted forums on international service outsourcing development, promotion events for China’s digital service providers as well as 13 other feature forums, meeting, and seminars. The summit also included a 3,000 sqm exhibition of outsourcing services by companies from around the country.
The summit is the only national level service outsourcing event, hosted by the Ministry of Commerce and an exemplary city for the service outsourcing industry. It is dedicated to promoting the development of the country’s service outsourcing industry as well as building the “China Service” brand.
In 2019, Hangzhou’s offshore service outsourcing value set a record high at USD 7.87 billion, ranking the second among all Chinese cities. For three years in a row, the city ranked the fourth among all in the assessment score.
Hangzhou’s offshore service outsourcing industry grew amid the headwinds in the first three quarters of 2020. The combined service value in the design, R&D, and biopharmaceutical sectors rose by 20.47% YoY to USD 1.889 billion. Medicine and biotech R&D service export value rose 139.10% YoY.
Going forward, the city will continue to enhance the innovations in its service trade sector and push ahead with its service outsourcing upgrade plans as well as improve international competitiveness and maintain its leading position in the domestic market.