Do More With Reuters
Partner Services

China vows to boost its own outsourcing industry

Wed Sep 9, 2009 4:21pm IST
 
Email | Print | | Single Page
[-] Text [+]

BEIJING, Sept 9 (Reuters) - China, aiming to rival India as an outsourcing destination, has launched measures to help local businesses providing back-office services, according to a new policy framework announced on Wednesday.

Chinese banks were told to provide more credit to outsourcing service firms, especially in 20 cities designated by Beijing as "bases" for the industry.

The details were published on the People's Bank of China website (www.pbc.gov.cn).

Insurance firms were ordered to develop more policies to suit the outsourcing business and authorities were urged to work out detailed guidelines by the end of this month to help their local firms.

Beijing said it would encourage initial public offerings by outsourcing firms. It also called on domestic banks to get into the act and give them business by contracting back-office operations such as call centres to third-party service providers.

The statement was jointly issued by the central bank, the Ministry of Commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission and the State Administration of Foreign Exchange. (Reporting by Zhou Xin and Simon Rabinovitch; Editing by Nick Macfie)

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

Hugh Hefner
PLAYBOY SALE
An icon bows to changing times

With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SPECIAL REPORT

Himangshu Watts
India's food dilemma

Indian farms are failing to attract capital or talent, either from rich landlords or the students who graduate from agricultural universities.  Full Article | Related Story 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article