China's service outsourcing industry saw robust expansion in the first four months of this year, the Ministry of Commerce said on Tuesday.
Chinese firms inked services outsourcing contracts worth a total of some 781.43 billion yuan (about 110 billion U.S. dollars) in the four-month period, up 14.4 percent year on year, according to the ministry.
The executed contract value stood at 520.51 billion yuan, a year-on-year increase of 12.9 percent.
Of the total, the value of offshore service outsourcing contracts rose 8.6 percent year on year to 419.04 billion yuan.
Specifically, the value of offshore information technology outsourcing (ITO) services provided by Chinese companies jumped by 10.9 percent from a year earlier.
China's Hong Kong Special Administrative Region, the United States and the European Union ranked the top three markets in terms of the fulfilled contract value of offshore outsourcing service, accounting for 54 percent of the total.
Chinese firms undertook nearly 80 billion yuan(about 14.93 billion U.S. dollars) worth of offshore service outsourcing contracts that were fulfilled with countries participating in the Belt and Road Initiative, up 24 percent from a year ago, while the offshore outsourcing services for Regional Comprehensive Economic Partnership (RCEP) member countries totaled 73.26 billion yuan, up 16.6 percent year on year.
Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees. In China, service outsourcing is typically divided into three sectors: information technology outsourcing, business process outsourcing and knowledge process outsourcing.
In the January-April period, the service outsourcing industry welcomed about 301,000 new hires, with 84.7 percent of these individuals holding a bachelor's degree or above. The sector had over 16.17 million employees at the end of April, among whom some 10.56 million were graduates with a bachelor's degree or higher.
China's service outsourcing industry reports robust expansion
Known primarily for its coal production, the city of Taiyuan in Shanxi Province is undergoing a cultural transformation. As part of China's booming concert economy, Taiyuan is actively seeking to provide unforgettable experiences for music fans.
Local authorities are supporting businesses in capitalizing on the growing demand for immersive concert experiences.
Taiyuan has implemented innovative initiatives. The city offers free public transportation for concert attendees, including bus and subway rides, both during the concert period and for three days before and after the event .
Taiyuan's commitment to creating a vibrant concert atmosphere is evident throughout the city. Giant banners and posters promote upcoming events, while various support activities further enhance the experience.
At a recent concert, a CGTN correspondent witnessed the city's dedication to providing a memorable experience. Each fan was greeted with a personalized souvenir bag filled with local specialties. Additionally, a captivating drone performance delighted the audience, adding an extra layer of excitement to the event.
"We have both also been to several concerts before. But this is the first time we've enjoyed various perks. Some shops are offering free merchandise. There are shuttle buses. The concert ticket also provides free admission to other local attractions. I think it is really nice," a concertgoer said.
"I have attended several concerts in Taiyuan where I have had really great experiences," another concert fan said.
Taiyuan's thoughtful initiatives have not only delighted concertgoers but also stimulated the city's consumer activity.
"From April to September, Taiyuan hosted more than 10 concerts. We could feel the enthusiasm of the fans at each event. There was a noticeable increase in hotel bookings as well," said Ma Shuting, marketing manager of a local hotel.
The concert period has also boosted the street-stall economy. The area around the venue has been transformed into a vibrant marketplace, with hundreds of stalls offering a diverse range of goods and services, from snacks and concert merchandise to beauty treatments.
"Business is doing quite well because there are many people coming from both out of town and locally. The daily revenue is approximately between 2,000 and 3,000 yuan (about 282 to 423 U.S. dollars)," a vendor told CGTN.
To solidify its position as a leading performing arts center in Northern China, the local government has made a significant commitment to fostering the concert economy.
"All 11 government departments in Taiyuan have jointly introduced several measures to support the development of the concert economy. For concert organizers in Taiyuan that meet the criteria, subsidies ranging from 150,000 yuan to 800,000 yuan (about 21,200 to 113,000 U.S. dollars) will be provided. Additionally, the city government has also established a special task force to ensure the smooth running of large-scale concerts," said Liu Rui, deputy director of the Taiyuan Bureau of Culture and Tourism.
The concert economy holds immense potential for economic growth, as demonstrated by the impact of Taylor Swift and Coldplay concerts on Singapore's GDP, which was boosted by around 0.25 percent.
Taiyuan is positioning itself as a major player in the concert industry, with over 30 concerts scheduled for this year alone. These events are expected to attract nearly 800,000 fans and generate tens of billions of yuan in consumer spending.
The city's commitment to the concert economy reflects its proactive pursuit of new growth drivers. This not only boosts consumption in the culture and tourism sector but also contributes to the broader economic transition toward high-quality growth.
Taiyuan's thriving concert economy boosts cultural, tourism growth
