China's foreign service trade reached a record high of $713 billion in 2015 according to the country's Commerce Ministry. The figure accounts for a 14.6 percent increase compared to the year before.

Data shows that export volume in service sector amounted to $288.2 billion during the same period, a year-on-year increase of 9.2 percent. The volume of imports rose 18.6 percent to $424.8 billion.

According to the Trade in Services and Commercial Services Department under the ministry, the export of high value-added services saw increased growth during the year.

Export volume in telecommunications, computer and IT industries-related services grew 25 percent from 2014 to reach $27 billion.

Management and consulting services grew 13.6 percent to reach $29.1 billion, advertising saw growth of 37.1 percent in exported services, while exported services in culture and entertainment grew 43.9 percent.

Intellectual property license royalties collected from foreign users grew 64.9 percent during 2015.

Service trade volume accounted for 15.4 percent of China's total foreign trade volume (consisting of service trade and commodity trade), 2.7 percentage points more than the figure in 2014.

Service exports accounted for 11.2 percent of the total export volume, rising 0.8 percentage points from the year before. Service imports accounted for 20.5 percent, growing 5.1 percentage points.

Edited by Jacob Hooson