Research on Evaluation of Liaoning's Economic Comprehensive Strength based on Factor Analysis and Cluster Analysis

Yifan Wu

School of Finance, Anhui University of Finance and Economics, Bengbu, 233000, China

Abstract: This article takes Liaoning Province as the research object. According to its relevant data from 2013 to 2017, a total of 13 secondary indicators are selected from the four aspects of economic development level, residents' living standard, urban development potential, and finance and foreign trade. Using factor analysis method and cluster analysis method to evaluate the comprehensive economic strength of 14 prefecture-level cities in Liaoning Province. The results show that the comprehensive economic strength of Dalian and Shenyang is strong, while the comprehensive economic strength of Tieling and Fuxin is weak.

Keywords: Liaoning Province; Factor analysis; Cluster analysis; Comprehensive evaluation