Foreign capital is flowing into China's service industry from the manufacturing industry, a new report has suggested.
China's service industry attracted about 66.3 billion U.S. dollars in2014, a year-on-year increase of 7.8 percent and accounting for 56 percent of the total foreign capital into China last year, according to the 2015 China Purchasing Development Report, released at the ongoing Global Public Procurement Forum in central China's Hubei Province.
By contrast, foreign capital into the manufacturing industry plummeted 12.3 percent to about 40 billion dollars last year, the report said.
"In January 2015 alone, the service industry used 9.18 billion dollars worth of foreign capital, or 66 percent of the country's total, up 45.1 percent from the same period of last year," it said.
Several experts at the forum said a booming service industry on the back of a rising middle class is the driving force behind the increase in foreign capital.
The forum is set to conclude on Saturday.
