From January to October 2025, Liaoning Province maintained stable economic growth.

1. **Industrial Growth with Strong Mining Sector Performance** During this period, the value-added of industrial enterprises above the designated size increased by 1.5% year-on-year. High-tech manufacturing saw a notable rise of 3.9%.

By sector: - Mining grew by 7.8%, - Manufacturing expanded by 0.7%, - Electricity, heat, gas, and water production and supply edged up by 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%). Key performers included: - Chemical fiber manufacturing (up 7.7 times), - Railway, shipbuilding, aerospace, and other transport equipment (up 47.1%), - Gas production and supply (up 21.6%), - Non-ferrous metal mining (up 19.1%), - Ferrous metal mining (up 17.3%), - Non-ferrous metal smelting and processing (up 14.2%), - Pharmaceutical manufacturing (up 9.3%), - Agricultural and sideline food processing (up 5.8%), - General equipment manufacturing (up 2.2%), - Automobile manufacturing (down 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 by 19.2%.

2. **Decline in Fixed Asset Investment, High-Tech Manufacturing Investment Rises** Fixed asset investment fell by 12.7% year-on-year. - Infrastructure investment dropped by 11.7%, - Manufacturing investment rose by 6.2%, with high-tech manufacturing up 10.8%, - Real estate development investment plunged by 29.3%.

By industry: - Primary industry investment grew by 5.1%, - Secondary industry fell by 3.6%, - Tertiary industry declined by 20.0%.

Construction project investment decreased by 8.9%, with large-scale projects (over 100 million yuan) down 6.5%.

3. **Retail Sales Expand, Premium Goods Sales Surge** Total retail sales of consumer goods reached 877.98 billion yuan, up 3.5%. - Daily necessities: - Grain and oil (+13.4%), - Household goods (+11.8%), - Tobacco and alcohol (+3.0%). - Premium categories: - Wearable smart devices (+15.5 times), - Energy-efficient appliances (+130%), - Smartphones (+110%), - New energy vehicles (+7.0%).

4. **Trade Declines Slightly, Exports Grow** Total import-export volume fell by 1.3% to 625.74 billion yuan. - Exports rose by 9.6% to 338.37 billion yuan, - Imports dropped by 11.6% to 287.37 billion yuan.

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

5. **Stable Consumer Prices, Industrial Prices Decline** CPI edged down by 0.3% (urban -0.2%, rural -0.7%). - Food and alcohol (-1.1%), - Clothing (+1.3%), - Housing (+0.1%), - Household goods (+0.6%), - Transport and communication (-2.7%), - Education and culture (+0.5%), - Healthcare (-0.7%), - Other goods and services (+8.4%).

PPI fell by 4.2%, while IPI (industrial purchase prices) dropped by 5.0%.

Source: Liaoning Provincial Bureau of Statistics