The northeastern province of Liaoning, a major but rusty industrial base of China, has seen steady and fast industrial growth since the central government launched a strategy to rejuvenate the northeast region in 2002.

According to the provincial economic committee, state-owned businesses, businesses whose majority shares are controlled by the state, and non-governmental businesses each boasts an annual sales of 5 million yuan (60.459 million US dollars) registered a combined industrial output value totaling 634.095 billion yuan (76.674 billion dollars) in the first 10 months, a year on year rise of 29.7 percent.

The total industrial added-value reached 177.766 billion yuan (21.495 billion US dollars), up 22.3 percent over last year's corresponding period. The businesses registered sales totaling 616.758 billion yuan (74.577 billion US dollars), an increase of 29 percent year on year.

After the founding of New China in 1949, the northeast region contributed the country's first steel, machine tools, locomotives and planes, and is still seen as having numerous advantages in these sectors. Many of the traditional industrial companies have become less competitive, however, and some have been losing money over the past two decades, as China has shifted from a planned economy towards market economy.

China launched a strategy to revive the northeast industrial rusty belt last year, aiming to turn the region into the new growth area of the national economy, with developed manufacturing and raw materials industries.

Liaoning province's output value of the manufacturing sector reached 170.998 billion yuan (20.676 billion US dollars) in the January-October period, a year on year rise of 24.8 percent, contributing 23.4 percent of the province's industrial growth for the same period.

The output value of the raw materials sector surged by 34.3 percent year on year to hit 343.306 billion yuan (41.512 billion US dollars) in the 10-month period, contributing 60.4 percent of the total industrial growth of the Liaoning.

Liaoning also saw drastic surges in coal output, generated energy, refined oil and cargo transportation by rail and via port in the first 10 months this year, according to the provincial economic committee.

The province's industrial profit and tax edged up by 35.7 percent year on year to hit 54.9 billion yuan (6.638 billion US dollars) in the first 10 months, with the per capital profit and tax topping 22,755 yuan (2,751.5 US dollars), 5,574 yuan (about 674 US dollars) more than that for last year's same period.

Source: Xinhua