A survey from accounting firm KPMG revealed that for Asia-Pacific firms, China had surpassed India as the top location of choice for offshoring and outsourcing.
Out of 280 senior business leaders in Asia, 42 percent said they have established shared services centers in China, while 41 percent said they have an outsourcing partner in the country.
"Though at the moment the country has still not reached the level of maturity seen in India, the growth of China's outsourcing market is significant. Many Western companies may still see India as their location of choice, but for executives within Asia Pacific the message is clear - China is now leading the way," said Edge Zarrella, global head, IT Advisory, KPMG China.
Singapore was the second most popular outsourcing destination (29 percent), followed by India (25 percent).