News

Nanjing looking for a breakthrough in outsourcing and investments

By Li Xinzhu (China Daily)
Updated: 2011-06-14 08:00

Noted figures at the 50 Chinese Economists meeting find that Nanjing has great potential in the outsourcing sector. Photos by Miao Jie / China Daily

A major part of the fourth China International Service Outsourcing Cooperation Conference was held recently in Nanjing.

This year's theme - China's economic transition and developing the modern service industry under the 12th Five-Year plan (2011-2015) - was intended to stimulate discussions on opportunities and approaches in the modern service industry.

Host of the forum was Li Qi, deputy mayor of Nanjing, who invited a number of field experts and renowned entrepreneurs, with assistance coming from the Nanjing Commerce Bureau.

Shen Jian, deputy secretary general of the Nanjing government, summed it up by saying, "The forum attracts the top people in the field, who have made many academic contributions that have played a role in the economic reforms and development. Nanjing is famous for its history and culture and has seen some great success during the 11th Five-Year Plan period (2006-2010).

"We hope to come up with more creative ideas and strategies to help us develop under the 12th Five-Year Plan."

Participants such as Duan Yongji, chairman of Stone Group Holdings Ltd, and Ren Zhiqiang, chairman of the Hua Yuan Real Estate Group, covered some important topics in their keynote speeches.

Zheng Xinli, permanent vice-chairman of the China Center for International Economic Exchanges, who spoke on improving the financial system and developing the service sector, made an important contribution by explaining some of the reasons for the slow development of China's service sector over the last decade.

"We need to get more large overseas companies to invest in our service sector by improving the legal system," Zhen said,

"And, we should look at providing services for developing countries to reduce the surplus."

Cai Fang, head of the Chinese Social Sciences Academy's Population and Labor Economics Institute, in speaking on how to develop a modern service sector, said that the service sector and human resources are the most important parts of China's economy in a long-term development.

"Nanjing could see a great breakthrough in the service sector simply by improving the current household registration system and hiring policies," Cai said.

Xu Shanda, a member of the Chinese People's Political Consultative Conference's Economic Affairs Committee, pointed to the sales tax as an essential part of a modern service sector.

"The service sector is connected to other industries such as the finance. And Nanjing needs to find a way to develop a new sales tax policy that can push development of the service sector," Xu explained.

Wang Jian, executive secretary-general of the China Society of Macroeconomics, covered an interesting topic when he touched on the relation between service sector development and the economy integration of the Yangtze River Delta, in an era of high-speed rail transportation.

"The high-speed railway has cut the travel time between Shanghai and Nanjing, and this may cause a number of important services to relocate. Nanjing has to come up with a long-term strategy to find its proper place in this," Wang said.

The forum is an annual non-governmental, non-profit event beginning back in 1998.

(China Daily 06/14/2011 page12)