Facing great opportunities in vitalization, Liaoning has prioritized an open economy and is playing an active role in the construction of the Belt and Road Initiative. Pillar industries like equipment manufacturing, agricultural product processing and metallurgy have added impetus to the province.
Agricultural product processing industry
Liaoning has long been a major grain producer and a base for featured agricultural products. Recent years have seen the rapid growth of its agricultural products industry. By the end of 2016, the province had registered 2379 agricultural product processing enterprises above designated size, realizing an industrial output of 310.6 billion yuan. Revenue in the industry reached 330.8 billion yuan, with a profit volume of 14.5 billion yuan. A total of 390,000 people were engaged in the industry, bringing much vigor and vitality to its growth.
The provincial government has attached great importance to this industry and rolled out a series of policies to accelerate major programs, industrial clusters and leading enterprises. Revenue in Liaoning’s agricultural product processing industrial clusters is projected to reach 118.5 billion yuan by 2020 with a growth rate of 8.8 percent.