On October 25, the Information Office of Liaoning Provincial People’s Government held the fourth press conference of the series on the economic performance of Liaoning in the first three quarters (Q1-Q3) of 2023, presenting an overview of Liaoning’s dedicated efforts to boost domestic consumption, conduct investment promotion activities, and ensure steady and high-quality growth in foreign trade in the first three quarters of 2023.
In the first three quarters, Liaoning’s total retail sales of consumer goods reached 763.23 billion yuan, reflecting a year-on-year increase of 8.1%, surpassing the national average growth rate of 6.8% by 1.3 percentage points. In September, the retail sales of consumer goods amounted to 99.04 billion yuan, with a year-on-year growth of 11.6%, outpacing the national average growth rate of 5.5% by 6.1 percentage points. The growth rates of retail sales of consumer goods in nine cities of the province exceeded the national average, with four cities, namely Dandong, Yingkou, Tieling, and Liaoyang, achieving double-digit growth rates of 11.1%, 10.8%, 10.4%, and 10.2%, respectively.
Regarding investment promotion, Liaoning’s actual capital in place increased by 12.5% year-on-year in the first three quarters, surpassing the targeted growth rate set in the Report on the Work of Liaoning Provincial People’s Government by 2.5 percentage points. Notably, domestic investment in place increased by 15.5% year-on-year, and actual foreign investment reached 3.01 billion US dollars. In 2023, a total of 429 key investment promotion projects were identified in Liaoning, with a total contracted value of 825.99 billion yuan. As of the end of September, 291 projects had been implemented, with a landing rate of 67.8%.
Liaoning has maintained overall stability in foreign trade. In Q1-Q3 of 2023, Liaoning’s foreign trade volume reached 578.53 billion yuan, ranking the 11th nationwide, marking a one-place improvement compared to the previous year. The province’s share of the national foreign trade volume remained at 1.9%, the same as last year. Among them, the export value amounted to 267.57 billion yuan, and the import value amounted to 310.96 billion yuan. Six cities, including Huludao, Chaoyang, Tieling, Dandong, Shenyang, and Yingkou, achieved positive growth in import and export, with growth rates of 33.4%, 22.3%, 14.0%, 12.4%, 3.5%, and 0.6% respectively, all higher than the national average.
In the first three quarters, the import and export volume between Liaoning Province and Russia reached 42.64 billion yuan, a year-on-year increase of 82.3%. Notably, exports increased by 41%, and imports increased by 102.5%. This impressive growth has established Russia as Liaoning’s fourth largest trading nation. Furthermore, the import quantities of commodities such as crude oil, coal, xylene, soybeans, and naphtha increased by 11.6%, 10%, 8.7%, 13.3%, and 50.4%, respectively, compared to the same period last year.
