Statistics from the Ministry of Commerce show that in 2020, China's implementation of offshore outsourcing from countries along the Belt and Road was 136.06 billion yuan, a year-on-year increase of 8.9%.

China's Belt and Road friends circle is getting bigger and bigger

Up to now, China has signed 205 cooperation documents with 171 countries and international organizations to jointly build the Belt and Road Initiative. Many of the Belt and Road countries and regions are located in ASEAN. From January to November 2020, the amount of service outsourcing undertaken by Chinese enterprises from countries related to the Belt and Road Initiative was 64.99 billion yuan, an increase of 6.8%. Among them, the execution value of ASEAN service outsourcing was 36.51 billion yuan, an increase of 7.6%.

In addition to the countries and regions along the Belt and Road, the United States, Hong Kong, and the European Union will be the top three markets for China to undertake service outsourcing in 2020, accounting for 53.8%. Among them, China's execution of service outsourcing from the United States was 155.06 billion yuan, a year-on-year increase of 17%. The execution value of offshore outsourcing undertaken by Hong Kong, China and the EU was 119.83 billion yuan and 117.68 billion yuan, an increase of 5.7% and 5.8% respectively year-on-year.

This trend will continue. "In 2021, due to the impact of the new crown epidemic, China will still have certain uncertainties in undertaking business from developed countries, but the countries and regions along the Belt and Road may have many highlights." Zheng Wei, a researcher at the China Service Outsourcing Research Center, analyzed.

Recently, 19 departments including the Ministry of Commerce jointly issued the "Notice on Promoting the High-quality Development of External Design Consultancy". Zheng Wei believes that “foreign design and consulting services are an important part of foreign contracted projects, and countries and regions along the Belt and Road are also the focus of my country’s foreign investment cooperation. It is foreseeable that in 2021, China’s planning and consulting for countries along the Belt and Road will Service outsourcing in areas such as, survey, design, cost, supervision, project management, and operation and maintenance may usher in rapid growth."

At the same time, most of the countries along the Belt and Road are developing countries and emerging market countries. China has certain comparative advantages in BPO and KPO businesses. Therefore, the BPO and KPO business undertaken by Chinese companies from countries along the Belt and Road may grow rapidly.

In addition, Zheng Wei also stated that China’s digital economy is developing well. With the rapid popularization of the new generation of information technology, the demand for digital products and services in countries and regions along the Belt and Road will greatly increase, and service outsourcing in the digital industry may become China’s The focus of cooperation with countries along the route. Editor/Xu Shengpeng