CEO: Shift from manufacturing to services expected

Building on a trend that has already begun, China should shift away from reliance on manufacturing and further develop its service economy, said the senior executive at Genpact Ltd during the Summer Davos World Economic Forum in Tianjin on Tuesday.

"The slowdown in China's economy is not a surprise with the backdrop of the gloomy world economy," said Tiger Tyagarajan, CEO of Genpact, a global provider of business process management and technology services.

"The situation will continue for a relatively long time, at least through the second half of the year," said Tyagarajan. "But when the economy is not good, it offers good opportunities for business process outsourcing operations.