On July 23, 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 half (H1) of 2023, introducing the province’s dedicated efforts to conduct investment promotion activities, boost domestic consumption, and proactively enhance foreign trade in H1 2023.

Liaoning has shown consistent growth and ongoing recovery in its key business indicators in H1 2023. In terms of investment promotion, Liaoning has achieved an impressive year-on-year increase of 13.0% in realized capital, accompanied by an escalation of 17.1% in domestic investment and foreign investment accumulation of 2.37 billion dollars.

Liaoning’s foreign trade volume has reached 388.34 billion yuan, reflecting a year-on-year growth of 1.4% in H1 2023. This impressive growth has propelled Liaoning to the 10th position in China’s foreign trade rankings, marking a two-place improvement from the end of last year. The export value has amounted to 178.1 billion yuan, up 5.3% year-on-year, with a growth rate 1.6 percentage points higher than the national average growth rate of 3.7%. The import value has reached 210.25 billion yuan. Notably, in June, the import and export volume grew by 3.7%, exceeding the national average by 9.7 percentage points.

Liaoning’s total retail sales of consumer goods has reached 485.2 billion yuan in H1 2023, reflecting a year-on-year increase of 9.1%. This growth rate is 0.9 percentage points higher than the national average growth rate of 8.2%, elevating Liaoning to the 9th place nationwide and representing a significant rise from its 13th position in the first quarter. The retail sales of consumer goods above a designated size in Liaoning has amounted to 187.66 billion yuan, a year-on-year growth of 9.1%, outpacing the national average growth rate of 7.4% by 1.7 percentage points.

Regarding international market expansion, Liaoning has facilitated the participation of over 1,200 corporations in vital domestic and international exhibitions, resulting in onsite and intended transactions exceeding 20 billion yuan. Meanwhile, Liaoning has intensified its footprint in key countries and regions, with imports and exports totaling 148.44 billion yuan with countries of the Belt and Road Initiative, reflecting a year-on-year increase of 9.7%. Notably, Liaoning’s imports and exports to Saudi Arabia has reached 32.47 billion yuan, displaying an annual growth of 24.3%, and that to Russia has reached 27.79 billion yuan, marking a year-on-year increase of 100.2%.