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China Sees Rise in Service Sector Investment
China invested more in its service sector in the first four months of 2000 in a bid to spur economic growth and improve people's living conditions, according to the National Bureau of Statistics.
Total investment in the tertiary industry amounted to 224.10 billion yuan (about US$ 27 billion) between January and April, jumping 9.6 percent year on year.
Investment in real estate, public services and consulting services surged 18.6 percent to 112.56 billion yuan (about US$ 13.6 billion) over the same period last year.
Meanwhile, some 6.36 billion yuan (about US$ 768 million) was channeled into commerce, food services, material supply and marketing, and storage, down 5.2 percent on an annual basis.
In the banking and insurance sector, total investment stood at 1.57 billion yuan (about US$ 190 million), 5.6 percent less than the same period of 1999.
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