China vows to boost its own outsourcing industry
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.
