By Chen Xia

The second Global Outsourcing Summit (GOS) opened in Zhengzhou in central China's Henan Province on December 5, 2008.

Dominique de Villepin, former Prime Minister of France, addresses the second Global Outsourcing Summit in Zhengzhou in central China's Henan Province, on December 5, 2008.

Dominique de Villepin, former Prime Minister of France, addressed the opening ceremony of the summit. In the context of the ongoing financial crisis, he said, the hope lies in emerging Asian countries and outsourcing will be an effective solution.

The outsourcing industry is important for multinational companies in enhancing their competitiveness and will serve as a driver for the development of national and local economies, said Guo Gengmao, the acting governor of Henan Province.

Guo Gengmao, acting governor of Henan, gives a speech at the opening ceremony of the second Global Outsourcing Summit.

As the host city, Zhengzhou is striving to promote sustainable development in the service outsourcing industry. Wang Wenchao, the city's Party chief, said that Zhengzhou is well prepared to serve companies from home and abroad thanks to its solid economic base, rapid urban development, convenient logistics facilities and rich human resources.

Wang Wenchao, the Party chief of Zhengzhou, introduces Zhengzhou's policy on the development of the outsourcing industry in an associate session to the second Global Outsourcing Summit.

A string of measures will be adopted to boost the outsourcing industry. In accordance with the government's work guidelines developed last year, Zhengzhou will set up a special fund to bring in outsourcing talent, provide subsidies to outsourcing companies, and build advanced outsourcing bases. It will also make efforts to protect intellectual property rights.

Currently, some 30 outsourcing companies have been established in Zhengzhou and several multinational companies, such as Microsoft, are planning to transfer part of their businesses there.

Global outsourcing plays a significant role in the international economy. According to available statistics, in 2003 the turnover of the global outsourcing industry totaled only US $150 billion, but by 2007 it had shot up to US $1.2 trillion. It is estimated that in 2010 the global value of the industry will reach a new high of US $5 trillion.

(China.org.cn December 5, 2008)