In the first 10 months of the current year, 187 new foreign-invested companies were established in Shenyang, capital city of northeastern Liaoning province, a year-on-year increase of 62.6 percent.

In addition, utilized foreign capital was $1.4 billion, a year-on-year increase of 35.8 percent, according to information released by the Shenyang Municipal Commerce Bureau on Dec 5.

Officials said the city's newly established internationally funded businesses and the use of foreign capital had several characteristics: the prominent use of foreign capital in key countries and regions; the use of foreign investment in the secondary and tertiary industries accounted for a large proportion; and major projects significantly contributed to the growth.

Since the start of the year, officials from Shenyang's districts and counties have arranged investment meetings and promotions, which have contributed to Shenyang's attractiveness as an investment.

In addition, Shenyang was voted as one of the top 10 cities with a good business environment in China. Its series of policies to simplify investment procedures, as well as to improve its administrative approval efficiency and quality of services, have helped attract companies to locate there.

Taking business registration for an example, the average time for processing a business license application in Shenyang was reduced to one working day, while some districts even shorten the time to half a day.

Officials in Shenfu New Zone Administration Service Center said that it only takes four hours to start a business in the zone, from obtaining the business license to stamping and then to the tax invoice application. 

“If an entrepreneur comes in the morning to apply, all the procedures will be completed by noon and the company is ready to open for business,” said an official at the center.