Equipment Manufacturing Drives Industrial Growth in Liaoning
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In the first quarter, Liaoning's equipment manufacturing sector continued to show strong momentum, with production growth outpacing expectations and economic performance significantly improving. The industry recorded sales revenue of 60.96 billion yuan, reflecting a year-on-year increase of 32.6%. Profits and taxes reached 3.17 billion yuan, rising by 1.19 billion yuan, or 59.7%, while net profits climbed to 11.3 billion yuan, up by 580 million yuan, marking a 104.5% increase compared to the same period last year. This robust performance contributed 4.4 percentage points to the province’s overall industrial growth, accounting for 26.3% of the total growth.
The growth was driven by several key areas within the sector. Output of metal rolling equipment surged by 47.2% year-on-year, while vehicle production rose by 35.6%. Notably, the production of Chinese sedans increased by an impressive 125.3%, highlighting the sector’s growing strength in the automotive segment. Additionally, metal-cutting machine tool output grew by 2.8%, with CNC machine tools seeing a 37.5% rise in production, underscoring the industry’s shift toward high-tech manufacturing.
Major companies in the sector also reported positive developments. Liaoning Brilliance Jinbei Automobile Co., Ltd. maintained strong order placements for sedan models, while Shenyang Machine Tool Group saw record turnover in its overseas markets for CNC machines. Other leading enterprises, such as Shenyang Mining Machinery and Equipment Group, Dalian Bingshan Group, Dalian Shipbuilding Heavy Industry Group, TBEA Shenyang Transformer Group, Dalian Machine Tool Group, and Shenyang Blower (Group) Co., Ltd., all demonstrated encouraging growth trends, reinforcing the industry’s resilience and innovation.
In Shenyang’s Tiexi District, a key hub for equipment manufacturing, the local government has launched the “Opinions on Accelerating the Development of the Equipment Manufacturing Industry,†outlining 18 initiatives aimed at boosting innovation and financial support. A dedicated fund of 100 million yuan will be allocated annually through investment, subsidies, and loans to support technological upgrades and major projects. The district is also leveraging its 11 higher education institutions and research institutes to establish the Institute of Modern Industry, promoting collaboration between academia and industry to enhance the commercialization of scientific achievements.
Moreover, two major projects are currently under construction: the FAW Dachai Deutz engine plant, with a total investment of 1.5 billion yuan, and the Volkswagen FAW Engine (Dalian) Co., Ltd., which has secured 290 million euros in investment. These projects are expected to significantly boost Liaoning’s equipment manufacturing capacity once operational.
Looking ahead, market demand for heavy machinery, machine tools, automobiles, and electrical appliances is anticipated to remain strong in the first half of the year. Production is expected to continue growing, alongside a notable increase in exports. With the decline in steel prices, the efficiency of the equipment manufacturing industry in Liaoning is projected to improve further, outperforming last year’s results.