China's Trade & Commerce: Outsourcing services in first half of 2019

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We start our show with the Chinese economy. China's outsourcing services in the first half of 2019 showed positive trends while figures remained stable. The success of those services, which range from cloud computing to artificial intelligence, show that this facet of China's economy will likely remain a strong one. CGTN reporter Wang Hui explains.

Contracts for China's outsourcing services reached nearly 710 billion yuan in the first half of the year. That's just shy of 102 billion US dollars. It was a 30% increase over the same period last year. The implemented amount was 406 billion yuan, up nearly 12%.

1800 newly-added service outsourcing enterprises joined the market, creating 225-thousand new jobs.

The Chinese Commerce Ministry says that the structure of China's outsourcing services has been optimizing.

FAN SHIJIE, SENIOR OFFICIAL CHINESE COMMERCE MINISTRY "New types and models of outsourcing services have been emerging, including cloud computing, artificial intelligence and big data, and they have vigorously facilitated the digitization of industries."

Services expanded in key markets, including markets along the Belt and Road. The implemented amount from Hong Kong has increased by 15%. From the European Union it was up 20%, and Russia saw a rapid growth of 57%.

FAN SHIJIE, SENIOR OFFICIAL CHINESE COMMERCE MINISTRY "The Commerce Ministry will follow the outsourcing service's trend of digitizing, more intelligent, high-end, and converging."

WANG HUI BEIJING "Beijing is going to facilitate China's outsourcing service transformation towards high-tech, high added value, high quality and high benefits. In that case, China will be able to enhance the influence and international competitiveness of Chinese services. Wang Hui, CGTN, Beijing."