China boosts offshore outsourcing business

　　Offshore service outsourcing companies in 21 Chinese cities will be exempt from business tax, from July 1st this year until the end of 2013. It's part of China's efforts to boost the offshore outsourcing business.

　　China's Ministry of Finance says revenues from IT outsourcing, business process outsourcing and knowledge process outsourcing are eligible for the policy. The government rolled out a raft of policies to shore up the sector's development this year, including a lower threshold to allow more engagement, and supporting listings of such companies to broaden their financing channels.