On April 23, the Information Office of Liaoning Provincial People’s Government held the third press conference of the series on the economic performance of Liaoning in the first quarter of 2024, presenting a comprehensive overview, major achievements, distinctive features, and highlights of the industrial economic performance in Liaoning during this period.

In the first quarter of 2024, the total added value of industrial enterprises above the designated size grew by 5.3% year-on-year, surpassing the annual growth rate of 2023 by 0.3 percentage point. This sustained growth in the industrial economy since last year has made a positive contribution to the province’s GDP growth that outpaced the national average. At the same time, the industrial investment in the province achieved a year-on-year increase of 25.2%, surpassing the national average by 11.8 percentage points and the province’s fixed-asset investment by 15.9 percentage points. The industrial investment accounted for 46.8% of the province’s fixed-asset investment, an increase of 6 percentage points, compared to the previous year. Notably, the equipment manufacturing, petrochemical, metallurgical, and consumer goods industries experienced the year-on-year growth of 4.4%, 2.9%, 1.6%, and 20.9% respectively.

During the first quarter, Liaoning organized more than 10 events to facilitate exchanges and collaboration between industries, such as petrochemicals, steel, construction materials, and textiles. These events included matching supply and demand, and production and financing activities. It held key conferences for enterprises that use specialized and sophisticated technologies to produce novel and unique products to match production and financing, where 30 companies reached loan intentions worth 701 million yuan. Moreover, the province facilitated the participation of companies in prominent events like Shanghai International Semiconductor Exhibition and China International Fashion Fair. It hosted Liaoning Textile & Garment Industry Exhibition and Promotion Conference, leading to on-site contracts worth 550 million yuan, which helped companies expand their market presence.

In future, Liaoning will continue to prioritize technological innovation as a catalyst for industrial upgrading. Efforts will be accelerated to make traditional industries more advanced, smarter and greener, thereby fostering new drivers and new advantages for development. The province will also expedite the construction of four trillion-yuan level industrial bases and 22 key industrial clusters, with a focus on shoring up weak links in the industrial and supply chains. This approach aims to enhance the innovation capabilities of enterprises and optimize the industrial ecosystem for their integrated development. By prioritizing enterprises, projects, industries, and industrial parks, Liaoning aims to consolidate its efforts and overcome challenges in pursuit of development.