Liaoning Province's Economic Performance from January to October 2025 Released

From January to October 2025, Liaoning Province's economy maintained overall stability.

1. Industrial Growth Sustained, Mining Sector Shows Strong Performance During the period, the added value of industrial enterprises above the designated size in the province increased by 1.5% year-on-year. Notably, high-tech manufacturing rose by 3.9%.

By sector: - Mining grew by 7.8%, - Manufacturing expanded by 0.7%, - Electricity, heat, gas, and water production and supply edged up 0.1%.

By ownership: - State-owned enterprises rose by 2.2%, - Collective enterprises grew by 0.4%, - Shareholding enterprises surged by 4.4%, - Foreign, Hong Kong, Macao, and Taiwan-funded enterprises declined by 5.9%, - Private enterprises increased by 1.0%.

Among 40 major industrial sectors, 23 recorded growth (57.5% coverage), with standout performers including: - Chemical fiber manufacturing (up 7.7x), - Railway, ship, aerospace, and other transport equipment (47.1%), - Gas production and supply (21.6%), - Non-ferrous metal mining and processing (19.1%), - Ferrous metal mining (17.3%), - Non-ferrous metal smelting and rolling (14.2%), - Pharmaceutical manufacturing (9.3%), - Agricultural and sideline food processing (5.8%), - General equipment manufacturing (2.2%). Automobile manufacturing fell by 4.9%.

Key product outputs: - Civil steel ships (+66.7%), - Transformers (+54.8%), - Chemical reagents (+32.8%), - Synthetic ammonia (+25.2%), - Paper products (+10.5%), - Commercial concrete (+8.3%), - Ten non-ferrous metals (+5.7%), - Steel products (-0.5%), - Automobiles (-6.4%, though new energy vehicles grew 19.2%).

2. Fixed Asset Investment Declines, High-Tech Manufacturing Investment Rises Fixed asset investment dropped 12.7% year-on-year.

By sector: - Infrastructure investment fell 11.7%, - Manufacturing investment grew 6.2% (high-tech manufacturing up 10.8%), - Real estate development plunged 29.3%.

By industry: - Primary industry investment rose 5.1%, - Secondary industry declined 3.6%, - Tertiary industry dropped 20.0%.

Construction project investment decreased 8.9%, with projects over 100 million yuan down 6.5%.

3. Retail Sales Expand, Premium Goods Demand Surges Total retail sales reached 877.98 billion yuan (+3.5%).

Notable retail categories: - Daily necessities: grain/oil (+13.4%), household items (+11.8%), tobacco/alcohol (+3.0%). - Premium goods: wearable smart devices (+15.5x), energy-efficient appliances (+130%), smartphones (+110%), new energy vehicles (+7.0%).

4. Trade Declines Slightly, Exports Grow Total import-export volume stood at 625.74 billion yuan (-1.3%), with exports rising 9.6% to 338.37 billion yuan while imports fell 11.6% to 287.37 billion yuan.

Key export items: - Agricultural products (+9.9%), - Electromechanical products (+8.5%), including electrical equipment (+13.2%), - Ships (+23.7%), - Auto parts (+7.9%).

5. Stable Consumer Prices, Industrial Prices Drop CPI dipped 0.3% (urban -0.2%, rural -0.7%). Breakdown: - Food/alcohol (-1.1%), - Clothing (+1.3%), - Housing (+0.1%), - Household goods/services (+0.6%), - Transport/communication (-2.7%), - Education/culture (+0.5%), - Healthcare (-0.7%), - Other goods/services (+8.4%).

PPI declined 4.2%, while industrial purchasing prices (IPI) fell 5.0%.