Liaoning is to invest 8.5 billion yuan (US$1.6 billion) in its ports this year in connection with its strategy to develop its coastal region. Liaoning will continue investing in port construction and build the coastal region into another economic center and the funds would mainly come from the government's budget, loans from the China Development Bank and international investment.

Each port will take responsibility for raising money, and we will welcome investment from home and abroad. Liaoning launched the development strategy for the coastal region early last year to shake off its status as part of China's rustbelt. The policy's core is to shake off the lingering legacy of the State-owned enterprises that have long dominated the province by making full use of its coastline resources and attracting more investors.

Dalian Port, the province's largest, has seen its fortunes improve in recent years. Last year, the amount of cargo shipped through the port jumped to 145 million tons, representing a 20 percent year-on-year increase.