iSoftStone is Founding Member of Global Services A

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At the 2009 annual conference of Hua Yuan Science and Technology Association (HYSTA), a premier network of aspiring Chinese professionals, entrepreneurs, and accomplished executives, Edward Yang, Chairman of the NAE Business Group and President of iSoftStone Inc., participated in the kick-off of the Global Services Alliance (GSA). GSA is an initiative of eight top-tier Chinese IT service providers aiming to gain increased policy support from the Chinese government,[link widoczny dla zalogowanych], as well as promote and brand the China-related IT outsourcing industry. Founding members include Achievo, Beyondsoft, Freeborders, hiSoft, iSoftStone, Neusoft, Symbio, and VanceInfo. The official decision to form GSA was made at the HYSTA conference, which took place on October 3 – 4 in Santa Clara, California, USA.

Ed Yang commented, “Forming a Global Service Alliance is essential to China‘s long-term success in the IT outsourcing industry. If China‘s IT service providers are truly to become worldwide leaders – as we should be – it is essential that we recognize our relative strengths, as well as our weaknesses. A Global Services Alliance is the appropriate forum through which government and IT service providers can work together to address many issues at the macro level.”

China IT service outsourcing is a fast-growing industry. Despite the economic downturn in 2009, China IT outsourcing has maintained a 20-percent growth rate. According to IDC 2009 market analysis,[link widoczny dla zalogowanych], the Chinese IT outsourcing industry is expected to continue growing at a five-year CAGR of 23 percent, pacing to surpass India and become a recognized global leader in the global IT services industry.

The HYSTA conference, which spurred the formation of the GSA, brought together many top business executives, investors, and start-ups from both the Silicon Valley and China. This is HYSTA‘s tenth year hosting the conference and with 5000+ members, the organization boasts the largest and most well-organized Chinese professional association in the San Francisco Bay Area. The event was attended by more than 1,000 Director,[link widoczny dla zalogowanych], VP, and C-level attendees. Keynote speeches were given by Steve Ballmer (CEO,[link widoczny dla zalogowanych], Microsoft) and Fang Fang (CEO, JP Morgan Asia). In Ballmer’s keynote,[link widoczny dla zalogowanych], he expressed Microsoft’s intent to increasingly invest in China, especially given that 15 percent of worldwide PCs are in China. Fang Fang focused on the financial state of China and investments the government is looking to make with its $2.1 trillion in foreign reserves.

The next board meeting of the GSA founders is expected to be held in December.