Business environment
Updated: 2014-09-03
China's heavy industry has its roots in Shenyang, whose core sector is equipment manufacturing. Today, Shenyang has 142 industries and 3,033 industrial enterprises above a designated size. This refers to all State-owned enterprises and private enterprises with annual sales of over 5 million yuan ($700,000).
In 2009, the city's regional GDP reached 426.85 billion yuan. Fixed assets investment was 351.99 billion yuan, and foreign direct investment was $5.31 billion. The disposable income of urban citizen per capita was 18,474 yuan.
The city had a total active labor force of 3.26 million, with 790,000 working in the primary sector, 898,000 in the secondary sector and 1.57 million in the tertiary sector. The employees in the tertiary sector have good education background.
Shenyang city has been accelerating the pace of strategic adjustment of the State-owned economy with foreign and private sectors also growing rapidly. With the expansion and optimization of urban development and industrial layout, its automobile and auto parts equipment manufacturing, electronic information, chemical and pharmaceutical industries have taken shape and now have become one of the engines of the city's economic development.
Capability in scientific and technological innovation and corporation research and development has kept improving, and a number of competitive products and enterprises are emerging. The pace of urban infrastructure construction has accelerated and soft environment has further improved. Shenyang has seen substantial economic and social development as well as brisk improvement in people's living standards. As a result of sustainable development policies with attention to the environment, Shenyang has won the titles of "National Environmental Protection Model City" and "National Forest City."