Business / Industries

Support offered to help service sector expand

By Qiu Bo in Tianjin (China Daily) Updated: 2014-03-22 07:40

China aims to give its service outsourcing industry a boost, and policies that will attract top talent and help the sector expand could be rolled out this year, Qu Lingnian, president of the Beijing Association of Sourcing Services, said on Friday.

Qu made the comment after attending the Chinese Outsourcing Leadership Summit in Tianjin.

Supporting overseas mergers and acquisitions by domestic outsourcers could also be part of the plan, Qu said.

The Ministry of Commerce has been studying these possibilities. It's submitted a request for further incentives to the State Council, China's cabinet, which is said to have received a positive response.

"The industry is waiting for a follow-up to Circular 33," said Qu.

In February 2013, the cabinet released that document, in which it announced a five-year development plan for the outsourcing industry.

Local governments responded by offering incentives, including special funds to promote service trade development.

They also came out in support of changes to the tax rules, which would require outsourcing companies to pay value-added taxes instead of corporate income tax.

Tax breaks are "vital" to the industry and will likely continue, Qu added.

Support offered to help service sector expand

Support offered to help service sector expand

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