Foreign Investment to Shanghai Rises for 17th Year

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.