Wuxi to host outsourcing summit

The 6th Global Outsourcing Summit will be held in Wuxi, Jiangsu province, on June 14, the event's organizing committee said on Wednesday in Beijing.

Jointly organized by the Asia-Pacific CEO Association and the Chinese Academy of International Trade and Economic Cooperation of the Ministry of Commerce, the summit aims to optimize the allocation of global economic resources, promote international cooperation on services outsourcing, cultivate major global outsourcing companies and boost the development of the Chinese services outsourcing industry.

The services outsourcing industry plays a crucial role on the economic development of Wuxi, Huang Qin, executive vice-mayor of Wuxi said.

Last year, total services outsourcing contracts in the city were worth more than $6.4 billion, an increase of more than 40 percent year-on-year.

China's services outsourcing industry is still not as developed as its Indian counterpart, which is the world's largest outsourcing country, and Chinese companies should promote its labor scale and involvement with the international market within the industry, the Asia-Pacific CEO Association said.