Solid base

Dalian is also expected to benefit from strengthened regional cooperation and enhanced control of risks in the sector.

As the core of the city's modern service sector, Dalian's financial industry has developed a solid base for further development and exerted strong influence on surrounding areas since China's reform and opening up began 30 years ago.

By the end of 2008, the combined assets of Dalian's financial industry reached 767.7 billion yuan with deposits of 553.5 billion yuan and a total loan balance of 406.3 billion yuan.

According to the first-ever China Financial Center Index ranking released by the Comprehensive Development Institute of the State Council, Dalian also ranks first in the Bohai Bay-rim region.

The city now has 186 financial intuitions with about 3,000 branches that employ more than 60,000 people in the sector. Their scope already reaches across China's northern and northeastern regions as well as into the east of Inner Mongolia autonomous region.

Dalian has the largest futures exchange in China, which is also the world's biggest trading market for plastics and the second-largest for agricultural products. The Dalian Commodity Exchange trades eight commodity futures that comprised 46.8 percent of the value of national futures transactions and 38.2 percent of the overall market in 2008. Its comprehensive strength is ranked the ninth in the world.

The city is home to 27 foreign-funded financial institutions including the Bank of Tokyo-Mitsubishi UFJ Ltd, Citibank and Standard Chartered.

It also has six financial support service centers including Citibank's data center and seven banks with offshore businesses.

In addition, Dalian has the only foreign exchange trading center in northeast China.

Local financial institutions in the city have already established business agent relationships with some 4,000 banks in more than 150 countries and regions in the world.

In 2008, the non-performing asset ratio of Dalian's financial institutions decreased to 3.7 percent, making it the first northeastern city to enter the country's list for excellent asset quality. It has also been awarded the most internationalized city in financial environment in China for three consecutive years.

In addition to achievements in the financial sector, the coastal city's attractiveness to financial businesses also lies in its pleasant climate and urban environment, as well as abundant human resources.