Economy

Liaoning has the largest economy of Northeast China. Its nominal GDP for 2011 was 2.20 trillion yuan (ca. US$348 billion) making it the 7th largest in China (out of 31 provinces). Its per capita GDP was 41,782 yuan (US$6,172). Among the three provinces of Northeast China, Liaoning is the largest in terms of GDP.

In 2008, Liaoning was the region with the highest GDP growth among global G8x8, the eight provinces or states below national level with the highest GDP of the top eight GDP nations. According to preliminary statistics, Liaoning maintained its GDP growth rate of 13.1 percent in 2009 and held its position as the province with the highest economic growth.

Leading industries include petrochemicals, metallurgy, electronics telecommunications, and machinery. On a national level, Liaoning is a major producer of pig iron, steel and metal-cutting machine tools, all of whose production rank among the top three in the nation. Liaoning is one of the most important raw materials production bases in China. Industries such as mining, quarrying, smelting and pressing of ferrous metals, petroleum and natural gas extraction, are all of great significance.

Meanwhile, Liaoning is an important production base of equipment and machinery manufacturing, with Shenyang and Dalian being the industrial centers. Enterprises such as Shenyang Jinbei Co. Ltd., Daxian Group Co. Ltd., and Shenyang Machine Tool Co. Ltd., are leaders in their sectors. The province’s light industry mainly focuses on textiles and clothing industries which include cotton and wool spinning, chemical fiber production, knitting, silk production, and the manufacturing of both garments and textile machinery.

In 2008, its tertiary industry accounted for 34.5 percent of total GDP. In the future, Liaoning will continue its efforts to restructure large and medium-sized state enterprises. Meanwhile, the province will concentrate in developing its four pillar industries – petrochemicals, metallurgy, machinery and electronics.

Agriculture

Main agricultural products of Liaoning include maize, sorghum, and soybeans. The region around Dalian produces three-quarters of China's exported apples and peaches. Cotton is also produced.

Liaoning's fruits include apples from Dalian and Yingkou, golden peaches from Dalian, pears from Beizhen of Jinzhou, white pears from Huludao and Suizhong, and apricots and plums from Gushan of Dandong.

Mining

Liaoning has the most iron, magnesite, diamond, and boron deposits among all province-level subdivisions of China. Liaoning is also an important source of petroleum and natural gas. Salt is produced along the coast.

Oil

Along with Liaoning's rich mineral reserves, the province also has abundant deposits of crude oil, especially in the Liaohe Oilfield.

Industry

Liaoning is one of China's most important industrial bases, covering a wide range of industries, such as machinery, electronics, metal refining, petroleum, chemical industries, construction materials, coal, and so on.

The sea off Dalian abounds with quality seafood, such as abalones, sea cucumbers, scallops, prawns, crabs, and sea urchins. The big fish of Dandong, the jellyfish of Yingkou, and the clams of Panjin are known worldwide for their good tastes right from the sea and in products made in Liaoning for export domestically and internationally.

Trade

The cities of Dalian, Dandong and Yingkou have been developed as major ports and economic gateways to all of northeast China.

Economic and technological development zones

Of the development zones formally recognized by the PRC State Council, 56 are located in Liaoning, including 14 on the national level and 42 on the provincial level. These zones are further grouped into Economic Development Zones, High-Tech Zones, Free Trade and Export Processing Zones, and Special Development Zones.

Shenyang Cross-Strait Science Industrial Zone

In October 1995, Shenyang Cross-Strait Science Industrial Zone was approved to be established by State Council. Shenyang Cross-Strait Science Industrial Zone is the only zone established in Hi-Tech Industrial Zone. It has a total area of 5 km2. It welcomes all the investors from the world, especially Taiwan to invest in the zone. Investors can enjoy many preferential policies. It focuses on the development of instruments manufacturing, telecommunication, bio-pharmacy, electronics, new materials. It is an important part of Shenyang Hi-Tech Industrial Development Zone.

Liaoning Shenyang Export Processing Zone

Liaoning Shenyang Zhangshi Export Processing Zone was approved to be established by the state government in June 2005. It is located in National-level Shenyang Economic & Technological Development Zone, with a planned area of 62 km2 and current area of 14.1 km2. It encourages and focuses on the development of auto and auto parts, electronics, precision machinery, new energy, new materials and fine chemical industry.

Shenyang Economic and Technological Development Zone Shenyang Hi-Tech Industrial Development Zone

Shenyang Hunnan Hi-Tech Industrial Development Zone used to be called Shenyang Hi-Tech Industrial Development Zone. Established in 1988, it is a national hi-tech development zone approved by State Council. The zone is located in the west of Shenyang city with 32 square kilometers. Its encouraged industries include electronic information, new materials, biological engineering, energy saving and environmental protection.

Anshan Hi-Tech Industrial Development Zone Dalian Economic & Technological Development Zone

Dalian Economic & Technological Development Zone was established in September 1984, as one of the first of the China National Economic and Technological Development Zones. The zone had a GDP of 70.31 billion yuan in 2007 and the total volume of import and export trade is 14.92 billion dollars, which accounts for a quarter of the whole Liaoning Province's. Most of the enterprises in Dalian ETDZ are factories foreign enterprises, especially from Japan, South Korea and USA, such as Canon, Pfizer, Toshiba and Intel.

Dalian Export Processing Zone

Dalian Export Processing Zone was approved to be set up by State Council in April 2000, with a planned area of 2.95 km2. It is divided into two parts, A zone and B zone. A zone has a construction area of 1.5 km2, and started operation in May 2001. All the basic infrastructure are available, which include road, water, gas, and power supply, telecommunication and so on. In A zone, it encourages several leading industries, such as home appliances, light industry, machinery, construction materials, medicine instruments.

Dalian Free Trade Zone

Dalian Free Trade Zone was approved to be set up by government in May, 1992. Investors can enjoys preferential policies, including duty-free. Inside the zone, all the infrastructures are available. The trade zone enjoys strategic location and convenient traffic. It has formed some leading industries, such as electronics, machinery and plastics.

Dalian Hi-Tech Industrial Development Zone

Dalian Hi-Tech Industrial Development Zone was approved to be a national-level development zone in 1991. It has a total area of 35.6 square kilometers. Inside the zone, all the infrastructure are available. It focuses and encourages the following industries: electronic information, bio-pharmacy, and new materials.

Dandong Border Economic Corporation Zone

Dandong Border Economic Corporation Zone was approved to be national-level development zone in 1992. It is located in the bank of Yalu River, and opposite the Sinuiju, a Korean city. It has completed the infrastructure. It has formed and encourages the following industries which is electronic information, machinery manufacturing, bio-pharmaceuticals.

Yingkou Economic & Technical Development Zone Regional development strategies Central Liaoning City Cluster (Shenyang Metro Area)

The Central Liaoning city cluster is a Megalopolis centering at Shenyang (urban population 4 million). Within its 150 km radius, it has Anshan (urban population 1.3 million), Fushun (1.3 million), Yingkou (1.1 million), Benxi (0.95 million), Liaoyang (0.7 million), and Tieling (0.4 million).

In April 2010, the State Council of the People's Republic of China approved a national development strategy for the Shenyang Metro Area. The core of this strategy is innovation in industrial development, integration of the eight cities, integration of urban and rural areas as well as interventions towards more market-oriented development.

Liaoning Coastal Economic Belt

The Party Secretary of the Liaoning Provincial Committee of the Communist Party of China, Li Keqiang, initiated the development of a strategy entitled "5 Points and One Line", which he first proposed on a visit to Yingkou in late 2005. Liaoning Province formally launched the development strategy for the entire Liaoning coastline in early 2006, so as to re-invigorate the provincial economy from its traditional status as the "rustbelt" of Chinese State Owned Enterprises.

The "Five Points" indicate five key development areas in the province and cover seven zones: the Changxing Island Harbor Industrial Zone in Dalian; Yingkou Coastal Industrial Base; Liaoxi Jinzhou Bay Coastal Economic Zone; Dandong, and the Zhuanghe Huayuankou Industrial Zone.

The five zones together cover a planned area of nearly 500 square kilometres.

The "One Line" mentioned in the strategy represents a new motorway along the coast. The coastline of 1,433 kilometers will become the connection between the five above zones, through which 6 provincial cities, 21 counties and 113 towns will be interlinked. The new coastal motorway will directly connect the entire rim of five zones around the Bohai sea, and will be completed by 2009.