Foreign direct investment (FDI) into China hit an all-time high in 2018, figures from the Ministry of Commerce showed, indicating that foreign investors retain confidence in the country.

Illustration: VCG

The figure was 885.61 billion yuan ($130.84 billion), up 0.9 percent year-on-year, the ministry said on Monday. It also said that 60,533 foreign-invested enterprises were newly established in the nation last year, up 69.8 percent year-on-year.

In December alone, FDI reached 92.34 billion yuan, up 24.9 percent, the ministry said. 

The manufacturing industry achieved rapid growth as FDI in the sector increased 20.1 percent year-on-year in 2018, up 4.8 percentage points over the previous year, the ministry said.

Within this category, high-tech manufacturing increased 35.1 percent year-on-year.

The ministry said that projects with investment of more than $50 million reached nearly 1,700 in 2018, an increase of 23.3 percent from the previous year. Investment from the US increased 7.7 percent last year, the ministry said.

China may unify its foreign investment laws in a bid to attract more foreign investment with a stable, transparent and predictable environment.