Yantai sets plan for service outsourcing industry

Yantai, Shandong province released its five-year plan for service outsourcing industry development on June 24 at a promotional conference.

The plan aims to bolster the city's service outsourcing industry and help the city participate in building the new dual circulation development paradigm.

In the next five years, the city will seize the opportunities brought by digital technology innovation, the Belt and Road Initiative, as well as the Regional Comprehensive Economic Partnership to promote its service outsourcing industry.

The city will focus on developing services in cloud management, pharmaceutical and biotechnology research and development, supply chain management, e-commerce platform, as well as cultural and creative industries.

By 2025, the city's service outsourcing value is expected to surpass 50 billion yuan ($7.74 billion). More than five professional service outsourcing parks at the provincial and municipal levels will be built.

More efforts will be made to attract high-end talents in the field. By 2025, the city is expected to have more than 100,000 service outsourcing workers.