The world financial crisis has brought China's service out-sourcing industry new opportunities, said Wang Chao, assistant minister of the Ministry of Commerce.

Wang said more and more multinational companies were keen to out-source non-core business to other companies to reduce costs and enhance competence amid world financial crisis. This brought Chinese companies a lot of business opportunities.

He suggested domestic enterprises adopt a more active attitude to seek new business opportunities with priority in out-sourcing, while stabilizing existed businesses.

China's out-sourcing industry has developed fast in recent years. In the first eight months of this year, the country's out-sourcing contracts hit US$1.9 billion, up 17 percent over the same period last year.

Statistics show, world cross-border service and software out-sourcing business volume hit US$400 billion in 2007. The figure is expected to hit US$1.6 trillion by 2010.

(Xinhua News Agency October 29, 2008)