Foreign Investment to Shanghai Rises for 17th Year
Foreign Investment to Shanghai Rises for 17th Year
Beijing - QNA
China's Shanghai Municipality received 18.5 billion US dollars of foreign investment in 2016, up 0.3%, official data showed on Saturday.
The figure has risen for 17 consecutive years, with European countries' investment a major factor in 2016, according to the Shanghai Municipal Commission of Commerce.
Investment from European countries including France, Britain and Germany reached 1.86 billion US dollars, up 42.4% from 2015, China's news agency (Xinhua) reported.
About 16.3 billion US dollars, more than 88% of the total, went into the service sector, up 2.5%, said an official with the commission on Saturday.
More foreign investment in services will help the city's industrial transformation and upgrades, the official said.
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