The head of the Department of Trade in Services and Commercial Services of the Ministry of Commerce of China recently disclosed the development of China's service outsourcing industry from January to August 2020. From January to August this year, the value of service outsourcing contracts undertaken by Chinese enterprises was 850.39 billion yuan (the same below), and the executed value reaching 586.71 billion yuan, up 8.2% and 12.5% year on year respectively. Among them, the value of offshore service outsourcing contracts undertaken was 506.67 billion yuan, and the executed value was 356.15 billion yuan, year-on-year growth of 6.8% and 13.3%, respectively (in dollar terms, the contract value of service outsourcing contracts was US$123 billion, and the executed value was US$84.97 billion, year-on-year growth of 5.3% and 9.7% respectively, of which the contract value of offshore service outsourcing was US$73.25 billion, and the executed value was US$51.65 billion, year-on-year growth of 3.4% and 10.7% respectively). From the perspective of structure, the amount of offshore information technology outsourcing (ITO), business process outsourcing (BPO) and knowledge process outsourcing (KPO) undertaken by Chinese enterprises from January to August was 166.88 billion yuan, 58.92 billion yuan and 130.37 billion yuan respectively, with year-on-year growth of 14.5%, 14.5% and 11.3%, respectively. The executed value The offshore executed value of integrated circuit and electronic circuit design services in ITO amounted to 25.81 billion yuan, up 49.5% year on year. The executed value of supply chain management services outsourcing in BPO amounted to 21.22 billion yuan, a year-on-year increase of 24.2%. The executed value of pharmaceutical and biotechnology R&D outsourcing in KPO reached 26.36 billion yuan, up 25.4% year-on-year. From the perspective of the market, from January to August, the amount of offshore outsourcing executed by Chinese enterprises from the United States, Hong Kong, China, The European Union, Japan, Singapore and South Korea was 79.8 billion yuan, 64.27 billion yuan, 56.74 billion yuan, 28.57 billion yuan, 19.2 billion yuan and 17.88 billion yuan respectively, with year-on-year growth of 20.6%, 18.8%, 7.5%, 5.6%, 17.5% and 20.2% respectively, accounting for 74.8% of the total offshore executions. The executed value of offshore outsourcing from countries along the Belt and Road was 61.75 billion yuan, up 7.7% year-on-year. By regions, the executed value of offshore outsourcing in the Beijing-Tianjin-Hebei region from January to August reached 30.66 billion yuan, an increase of 31.1% over the same period last year. Information technology and biomedicine R&D outsourcing grew rapidly. The executed value of offshore service outsourcing in Yangtze River Delta region was 187.79 billion yuan, up 10.9% year on year and accounting for 52.7% of China's total. The executed value of offshore outsourcing in 31 demonstration cities was 310.32 billion yuan, up 13.6% year on year and accounting for 87.1% of China's total. From January to August, private enterprises undertook 82.92 billion yuan of offshore service outsourcing, up 18.8% year-on-year. Foreign-funded enterprises (excluding those from Hong Kong, Macao and Taiwan) undertook 129.45 billion yuan of offshore service outsourcing, up 14.4% year on year. Private enterprises and foreign-funded enterprises accounted for 59.6% of the total.