China's services outsourcing sector booming

China's services outsourcing sector is booming, with the latest data showing that the sector's total contract value hit 64.81 billion U.S. dollars in the first 10 months of 2013, up 41.6 percent year on year.

Of the total contract value, 45.25 billion dollars stemmed from overseas, representing a surge of 42.5 percent year on year, according to data released Tuesday by the Ministry of Commerce (MOC).

The MOC data also showed that the sector created 738,000 jobs during the Jan.-Oct. period. As of the end of October, the sector's 23,787 companies employed more than five million workers.