At present, the research on financial fragility concentrates on the macro level of the state, and there is still considerable research space for the provincial financial fragility. According to such a relatively innovative perspective, this paper analyzes the causes of financial fragility in Liaoning Province on the basis of a review of existing research on financial fragility, and proposes some main feasible strategies to deal with Liaoning’s financial fragility, such as promoting the development of non-bank financial institutions, expanding the non-interest earnings of large-scale banks in order to enhance the profitability of banks and taking every effort to eliminate bad loans.