Outsourcing in China has huge potential - insider
( 2003-10-20 21:36) (Xinhua)
Both Chinese and multinational companies can gain more if they actively
participate in the international wave of outsourcing, especially in the huge
Chinese market, insiders said in Beijing Monday.
Michael F. Corbett, chairman of the Outsourcing World Summit, said at the
2003 China-America Outsourcing Business Development Summit that outsourcing has
spread from the United States and Europe to Asia.
Outsourcing, which can strengthen companies' core competence by breaking down
the manufacturing chain, is a fast growing industry which restructures business,
Corbett said.
Global outsourcing spending increased by 15 percent annually in recent years
and the market could reach 5,000 billion US dollars globally this year, said
Corbett.
Chinese companies could make a profit by offering outsourcing services or
improve efficiency by contracting the subordinate projects to the service
providers, Corbett said.
At the conference, Cheng Siwei, vice-chairman of the Standing Committee of
the National People's Congress, encouraged Chinese companies to learn from the
foreign outsourcing experiences, such as to establish third party logistics.
Cheng urged Chinese companies to improve information networks, which served
as the foundation of outsourcing along with economic globalization, so as to
grasp the business opportunities.
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