Information Services Group, an information-based services company, has said that its business unit TPI, a sourcing data and advisory firm, has signed an agreement to help Huaqiao, a satellite zone of Shanghai, to expand the outsourcing market in China.
Under the agreement, TPI will assist Huaqiao with the creation of operating protocols and standards for outsourcing industry participants. The protocols and standards, which will address issues such as business setup, data privacy, intellectual property, measurement and reporting systems and training and education, are designed to increase the city’s appeal to global sourcing buyers, service providers setting up delivery centers and global corporations building captive or shared services centers, said the company.
Huaqiao is an economic development zone in China dedicated to services outsourcing. The Huaqiao International Service Business Park, located 12.4 miles east of central Shanghai, is expected to become a hub of financial services outsourcing (FSO) and business process outsourcing (BPO) activity, with an anticipated workforce of 300,000 and a productive capacity of $15 billion within five to 10 years.
Ren Xueyuan, chief executive of Huaqiao, said: As we aim to be a leading global service sourcing location, we’ve increasingly realised the need to align with global operating protocols and standards. TPI’s unparalleled sourcing experience and expertise will help us address that need and make Huaqiao and China attractive destinations for both the buy and sell sides of the industry.
In May, ISG signed agreements with the Chinese Ministry of Commerce (MOC) and a strategic cooperation agreement with the China Council for International Investment Promotion (CCIIP) to work together on accelerating the growth of the country’s emerging IT and business process outsourcing sectors.
Michael Rehkopf, TPI partner and head of TPI China, said: This is another step in our continuing efforts to help develop a strong outsourcing industry in China. With this agreement, Huaqiao is demonstrating leadership that should inspire confidence in corporations around the world that are looking to China to be the next major sourcing market.
