Golden season for service industry

China's service outsourcing business will see its golden season in the coming decade with more policy support and further upgrades to the nation's industrial portfolio, a senior commerce official said.

Further driving up the service outsourcing industry carries great significance to the country's ongoing supply-side reform and the segment will witness even stronger growth momentum in the next decade, especially for high-end outsourcing businesses, Wang Shouwen, vice-minister of commerce, told the China Sourcing Summit 2017 in Hangzhou on Friday.

The country's service industry has been contributing to more than half of the country's economic growth during the first half of 2017, reaching 51 percent of GDP. Outsourcing services - in which a company contracts part of its existing internal activity to another company - created 1.21 million new jobs in China last year, with a total of 8.6 million people employed in the sector.