Wafangdian is the birthplace of bearing industry in China, with the reputation of "hometown of bearings in China" and "bearing capital in China". This dominant bearing industry has been expanded and developed in recent years. There are a large number of bearing manufacturers, which can produce 10 types of bearings with more than 4,000 specifications. The products sell well all over the country and more than 80 countries and regions, and a large-scale bearing professional market-Wafangdian Bearing Economic and Trade Center has been built. Foundry products are exported to East Asia, Southeast Asia, Australia and North America, and are called Northeast Foundry Base. Ranked 3 1 in "Economic Strength Evaluation of Top 100 Counties (Cities) in China in 2008", ranking first among counties (cities) in Northeast China.
Wafangdian city is located at the opening frontier of Liaodong Peninsula, bordering Dalian Port in the south and the hinterland of Northeast China in the north. It has a unique open location and resource advantages, and has initially formed an all-round, multi-level and wide-ranging opening pattern. So far, merchants from more than 30 countries and regions have come to invest, and a number of joint ventures and wholly-owned enterprises with large investment, good market prospects and high technology content have settled in our city. In 2005, 58 foreign-funded projects were approved, with 2 1 newly started projects. Strive to build Dalian Wafangdian Industrial Zone, Wafangdian Zhu Hua Industrial Zone and Dalian Chemical Industry Base, with foreign investment projects 10, contracted foreign investment of 37.508 million US dollars, and actually used foreign investment of18.47 million US dollars; Domestic-funded projects were introduced 104, and the capital in place was 2.26 billion yuan. The city's foreign trade has expanded year by year, with more than 130 export varieties. It has formed six export bases for seafood, fruits, agricultural special products, building materials, mechanical products and mineral products, and a number of export franchise enterprises.