GENPACT helps to boost Qingdao's global business

The Qingdao municipal government signed a strategic cooperation agreement with GENPACT, a global leader in business process and technology management, on Nov 16.

Both parties vowed to work together for the internationalization of local enterprises.

GENPACT promised to build China's first global business process innovation center in Qingdao, a coastal city in the Shandong Peninsula, contributing to the city's economy by helping local enterprises gain more international competitiveness.

"Qingdao has already nurtured many world-renowned brand names, such as Tsingtao Beer, Haier and Hisense. Hand in hand with the Qingdao municipal government, we are providing more services to local enterprises on their way of going global," said Charles Hunting, CEO of GENPACT Asia.

According to the agreement, which has a validity term of 5 years, GENPACT Qingdao will locate itself in the city's Economic and Technological Development Zone. Related departments of the Qingdao government will facilitate the completion of the innovation center and bring about cooperation between GENPACT and local brands.

"Qingdao, as the core area of Shandong Peninsula's Blue Economic Zone, boasts great potential for software and service outsourcing development," said Li Qun, secretary general of the Qingdao CPC committee. "We sincerely hope that GENPACT will provide world-level experience to local enterprises."

The innovation center will open up a new pattern of tripartite cooperation between transnational companies, the local government and domestic clients. In addition, GENPACT will also become the first transnational service provider that sets up its delivery center in Qingdao. The company decided to recruit at least 600 employees from Qingdao in the first year.