BEIJING (Reuters) - China's foreign direct investment (FDI) rose on a cumulative basis in November, breaking four months of consecutive declines as foreign investors moved money into China's services sector at the expense of manufacturing.The Chinese services sector attracted $58.6 billion of FDI in the first 11 months of the year, up 7.9 percent from the same period a year ago and significantly outperforming manufacturing which saw a 13.3 percent decline as the balance tipped amid a broad economic slowdown.

China drew $106.2 billion in foreign direct investment (FDI) in the first 11 months of 2014, the Ministry of Commerce said on Tuesday, up just 0.7 percent from a year earlier.

Although in November alone, China attracted $10.4 billion in FDI, up 22.2 percent from a year earlier, the ministry said.

Among the 10 countries that were the biggest investors in China, investment from South Korea leapt 22.9 percent on an annual basis while Britain invested 28 percent more.

Investment from Japan continued to sink, dropping 39.7 percent from a year earlier, while FDI from the United States fell 22.2 percent and the European Union dropped 9.8 percent.

As China's maturing economy slows, more and more Chinese companies are looking abroad in search of lower costs and better returns.

China's non-financial direct outbound investment has continued to approach equivalency with inbound flows, rising l1.9 percent from the same period last year to $89.8 billion but declining on a monthly basis by 26.1 percent to $7.9 billion.

Despite moderating FDI growth, China has repeatedly said it expects FDI to hit a record high of $120 billion this year, barring no sharp changes in global capital flows, which would require China to attract another $13.8 billion in FDI in December.

FDI is still a small contributor to China's overall capital flows compared to exports, which were worth about $2 trillion in 2013.

(Reporting by Judy Hua and Pete Sweeney; Editing by Eric Meijer)