During a recent press conference held by the Liaoning Provincial Government, it was revealed that in the first three quarters of this year, fixed asset investment in Liaoning Province increased by 4.8% compared to the previous year, marking the best growth rate for the same period since 2019.
Mu Jiushen, a member of the Development and Reform Commission in Liaoning, highlighted the province’s commitment to implementing a comprehensive revitalization strategy. He emphasized the importance of focusing on project development and expanding effective investments to drive economic stability. By prioritizing 15 major projects and fostering cooperation between central and local governments, the province has successfully accelerated investment momentum, improved project quality, and optimized investment structures.
“Despite challenges, we have seen steady progress in investment operations,” Mu noted. “The 4.8% increase in fixed asset investment is a significant improvement, outperforming the national growth rate by 1.4 percentage points. Industrial investment grew at a rate 4.1 percentage points higher than the overall growth, and infrastructure investment surged ahead by 12.4 percentage points.”
When adjusted for a 17.3% decline in real estate development investments, the overall investment in the province showed an impressive growth of 11.7%, with private investments also rising by 5.6%. Mu pointed out that this indicates not only a reasonable increase in quantity but also a substantial improvement in quality, with investments in various cities performing positively.
Moreover, the pace of project construction has accelerated significantly, showcasing its crucial role in driving growth. Liaoning has implemented a robust provincial mechanism for advancing key projects, emphasizing the management of project reserves and ongoing projects. The province’s efforts to cultivate a cycle of planning, preparation, initiation, and completion for projects have borne fruit, resulting in over 16,000 reserve projects with a total investment nearing 90 trillion yuan.
Looking ahead, Mu stated that Liaoning will continue to focus on the investment targets established during the provincial economic work conference. The province is determined to align with its “six positions” goal, leveraging the 15 major projects while enhancing the management of project reserves to ensure high-quality planning and execution, ultimately aiming to expand effective investments and tackle the challenges ahead in this decisive year for revitalization.
