On July 20, the Information Office of Liaoning Provincial People’s Government held the first press conference of the series on the economic performance of Liaoning in the first half (H1) of 2023, presenting an overview and the main features of the economic performance of the province in H1 2023.

Throughout the first half of this year, Liaoning has acted on the general principle of pursuing progress while ensuring stability, and carried out the Three-Year Action Plan for Comprehensive Revitalization and New Breakthroughs, focusing on high-quality development, strengthening new growth drivers, and improving people’s wellbeing. The province’s economy has maintained a steady and upward trend, with major economic indicators growing faster than the national average.

Liaoning’s GDP hit 1.39981 trillion yuan in H1 2023, marking a year-on-year increase of 5.6% at constant prices, with a growth rate 0.9 percentage points higher than that of the first quarter (Q1) and 0.1 percentage points above the national average. The value added of the primary industry was 100.24 billion yuan, up 3.7%; of the secondary industry, 557.86 billion yuan, up 5.8%; and of the tertiary industry, 741.71 billion yuan, up 5.6%.

In H1, the value added of industries above the designated size in Liaoning grew by 5.3% year-on-year, 1.5 percentage points higher than the national average.

In terms of economic types, the value added of state-holding enterprises increased by 1.4% year-on-year; of joint-stock companies, 3.7%; of enterprises with foreign investment and enterprises with funds from Hong Kong, Macao, and Taiwan, 11.3%; and of private enterprises, 7.9%.

The value added of the service industry increased by 5.6% year-on-year in H1, with a growth rate of 2.2 percentage points higher than that of Q1. The total retail sales of consumer goods reached 485.23 billion yuan, a year-on-year increase of 9.1%, with a growth rate of 2.6 percentage points higher than that of Q1 and 0.9 percentage points above the national average.

According to customs statistics, Liaoning’s total volume of trade in goods amounted to 388.34 billion yuan in H1, a year-on-year increase of 1.4%. Exports increased by 5.3% to 178.1 billion yuan, while imports decreased by 1.7% to 210.24 billion yuan.

Liaoning’s general public budget revenue was 152.38 billion yuan in H1, a year-on-year increase of 14.2%, with the tax revenue increasing by 19.8% to 102.42 billion yuan. The general public budget expenditure was 309.64 billion yuan, up 4.9%.