Services outsourcing sector to grow 40% annually

The value of China's services outsourcing sector will grow about 40 percent annually in the 12th Five-Year Plan (2011-15) period to $85 billion by the end of 2015, the Ministry of Commerce and the National Development and Reform Commission said.

The figure will account for about 28 percent of China's services export value.

The two bodies recently issued the 2011-15 guidelines for China's services outsourcing sector, the first specialized guidelines for the sector, according to an announcement on the website of the Ministry of Commerce on Saturday.

Cultural and creative industries, trade, logistics, healthcare and public services will be the key areas for future development.

China's services outsourcing rose 65 percent year-on-year to $23.83 billion in 2011, representing about 23.2 percent of global services outsourcing that year. The country is now the world's second-largest provider of services outsourcing and the value in 2012 will reach $33 billion, up more than 40 percent year-on-year, according to the Ministry of Commerce.