The Third China International Service Outsourcing Cooperation Conference will kick off in Nanjing, capital of east China's Jiangsu Province, on June 11, organizers announced Tuesday at a press conference in Beijing.

A press conference to brief reporters on the preparation of the 3rd China International Service Outsourcing Cooperation Conference was held in Beijing Tuesday morning. [China.org.cn]

The 2-day event, sponsored by the Ministry of Commerce, Jiangsu provincial government and China Council for the Promotion of International Trade (CCPIT), is expected to attract about 80 overseas service outsourcing buyers and 300 domestic service outsourcing suppliers.

Keynote speakers will include government officials and senior management of top industry players like IBM in the U.S., SAP of Germany, and Wipro of India. Speakers will share their insights regarding policies and the future of China's service outsourcing industry.

The conference also aims to provide a platform for business partnerships. There will be a series of match-making meetings during the event for enterprises of various sectors like software, animation and bio-medical R&D to find business partners. Deals involving about US$260 million were reached between domestic and overseas enterprises during last year's conference.

A 12,000-square-meter exhibition area will also be set up to showcase the development and infrastructure facilities of more than 200 service outsourcing enterprises, 21 state-level outsourcing model cities, as well as several provincial-level model cities.

A press conference to brief reporters on the preparation of the 3rd China International Service Outsourcing Cooperation Conference was held in Beijing Tuesday morning. Wang Shouwen, vice mayor of Nanjing, at the press conference. [China.org.cn]

Over the past few years, China's fledging service outsourcing industry has been witnessing rapid development. Contracts worth US$20.01 billion were signed in 2009, a year-on-year increase of 185.6 percent, according to statistics from the Ministry of Commerce.

However, as Chinese service outsourcing companies are mostly small and medium enterprises, offshore outsourcing accounts for only 22 percent of the nation's total deals, which is well below the 64 percent of India, a leading player in the global outsourcing industry.

However, as these companies accelerate mergers and acquisitions in the next three to five years, they will get better edges in securing big outsourcing deals from multinational companies, said KMPG in a report earlier this month.

KMPG predicted in the report that the country's service outsourcing market is expected to reach US$43.9 billion by 2014.