Since Dalian of Liaoning became one of China's 14 coastal cities designated to open to foreign investment and trade in 1984, Liaoning has speeded up its opening-up pace. After 1992, coastal cities, such as Yingkou, Jinzhou and Huludao, and inland cities, including Shenyang, Anshan, Liaoyang and Tieling, were opened up successively. The areas along the coast, river and border and the hinterland have formed a multi-tier and wide opening-up pattern.

Foreign Trade

The volume of the province's foreign trade has been on the continuous increase since the reform and opening-up, with various kinds of exporting markets having been set up. In 2004, the province's imports and exports registered an increase of 29.9 percent from last year to 34.44 billion USD. Of these, exports increased 29.8 percent to 18.92 billion USD, and imports 30.1 percent to 15.52 billion USD.

Use of Foreign Capital

There have been increases in the province's use of foreign capital. The upgrading of old enterprises by means of foreign capital has scored obvious achievements, and more than 400 large- and medium-sized state-owned enterprises have been upgraded through use of foreign capital. In 2004, the province saw signing of 2,491 contracts. The value of actually used foreign capital was 5.41 billion USD, up 91.25percent.

Economic and Technological Cooperation

Liaoning has set up 35 enterprises in other countries and regions, with the investment amounting to 101.15 million USD, and 77.81million USD from China business. In 2004, 917 contracts were signed to undertake overseas projects and provide with labor service abroad, with the total value of 600 million USD, up 21 percent; business volume completed reached 560 million USD, an increase of 15 percent; and dispatched 670 million people to engage in labor service abroad, a figure which is 4 percent more than in the previous year.

Construction of Development Areas

Since the Dalian Economic and Technological Development Area was approved to set up in 1984, 5 state-level and 23 province-level development areas were established in the province. By 2004, the number of economic and technological development areas at various levels in the province added up to 39,922; and the number of foreign-funded enterprises was 6,427. More than 70 of Top 500 or famous international corporations had set up businesses in the development areas.