Service Industry: Investment and Service Sector

service industry: The service industry continued to attract massive foreign investment from January to October, said Tang Wenhong, head of the ministry foreign investment division, according to Xinhua China. FDI in the service sector, which accounted for 70.7 percent of all investment, increased 9.1 percent year on year during the period. The growth rate is unchanged from the January-September period, according to the Ministry of Commerce. In particular, FDI in high-tech services skyrocketed 90.2 percent from a year earlier to reach 79.18 billion yuan. The number of newly-established foreign companies with investment of over 100 million dollars totaled 600. In the first ten months, FDI from the United States surged 79.8 percent, while that from the European Union soared 41.5 percent. (news.financializer.com). As reported in the news.