Moving up the value chain

China ranks second-most popular destination for service outsourcing

China's place in the global service outsourcing market is growing fast, as companies around the world realize the level of expertise in the world's second-largest economy are among the very best available.

According to the latest statistics from the Ministry of Commerce, from January to July, international service outsourcing contracts undertaken by Chinese companies jumped 47.9 percent year-on-year to $22.35 billion.