Investment in Fixed Assets for the First Two Months of 2019

National Bureau of Statistics of China 2019-03-19 19:51 Print| Large| Medium| Small

In the first two months in 2019, the investment in fixed assets (excluding rural households) reached 4,484.9 billion yuan, up by 6.1 percent year-on-year, and the growth rate was 0.2 percentage point increase than that in the whole year of 2018. In February, the investment in fixed assets (excluding rural households) increased 0.43 percent month on month. Of which, the private investment in fixed assets reached 2,696.3 billion yuan, and the growth rate was 7.5 percent increase year-on-year.

In term of different industries, the investment in primary industry was 95 billion yuan, went up by 3.7 percent year-on-year, while the growth rate was 9.2 percentage points lower than that in the whole year of 2018; that of secondary industry was 1,386.4 billion yuan, went up by 5.5 percent, while the growth rate decreased 0.7 percentage point; that of tertiary industry was 3,003.5 billion yuan, increased 6.5 percent, and the growth rate increased 1.0 percentage point.

In secondary industry, the investment in industry increased 5.8 percent year-on-year, while the growth rate was 0.7 percentage point lower than that in the whole year of 2018. Of which, the investment in mining industry went up by 41.4 percent, and the growth rate increased 37.3 percentage points; that of manufacture increased 5.9 percent, and the growth rate decreased 3.6 percentage points; that of production and supply of electric power, heat power, gas and water, decreased 1.4 percent, and the pace of decline narrowed by 5.3 percentage points.

In tertiary industry, the investment in infrastructure (excluding electric power, heat power, gas and water) increased 4.3 percent year-on-year, and the growth rate increased 0.5 percentage point than that in the whole year of 2018. Of which, the investment in management of water conservancy decreased 1.8 percent, and the pace of decline narrowed by 3.1 percentage points; that of management of public facilities decreased 2.9 percent, while 2.5 percentage points increase in the whole year of 2018; that of transport via road increased 13.0 percent, up by 4.8 percentage points; that of transport via railway increased 22.5 percent, while 5.1 percent decrease in the whole year of 2018.

In term of different areas, the investment in eastern region rose by 3.3 percent year-on-year, and the growth rate decreased 2.4 percentage points from that in the whole year of 2018; that of central region increased 9.4 percent, while the growth rate decreased 0.6 percentage point; that of western region increased 7.6 percent, and the growth rate increased 2.9 percentage points; that of northeastern region increased 5.7 percent, and the growth rate increased 4.7 percent points.

In term of types of registration, the investment by domestic enterprises went up by 6.4 percent year-on-year, while the growth rate decreased 0.1 percentage point than that in the whole year of 2018; investment by funds from Hong Kong, Macao and Taiwan unchanged from that in the previous year, and the growth rate of 2018 was 11.5 percent decrease; the investment by foreign funds went up by 3.4 percent, while the growth rate decreased 2.7 percentage points.

Investment in Fixed Assets for the First Two Months of 2019
Indicators	Jan-Dec
	Increase rate Y/Y (%)

Investment in Fixed Assets (Exclude Rural Households) (100 million yuan)	6.1
Of which: State-owned and State Holding	5.5
Of which: Private Investment	7.5
Grouped by Constitution
Construction and Installation	5.4
Purchase of Equipment and Instruments	0.3
Other Expenses	14.5
Grouped by Types of Industry
Primary Industry	3.7
Secondary Industry	5.5
Tertiary Industry	6.5
Grouped by Industrial Sectors
Agriculture, Forestry, Animal Husbandry and Fishery	4.0
Mining	41.4
Manufacturing	5.9
Of which: Processing of Food from Agricultural Products	-4.4
Manufacture of Foods	3.0
Manufacture of Textile	17.8
Manufacture of Chemical Raw Material and Chemical Products	8.1
Manufacture of Medicines	10.5
Smelting and Pressing of Non-Ferrous Metal	-10.6
Manufacture of Fabricated Metal Products	6.4
Manufacture of General Purpose Machinery	12.7
Manufacture of Special Purpose Machinery	16.3
Manufacture of Automobile	8.1
Manufacture of Railways, Shipbuilding, Aerospace and Other Transportation Equipment	-9.7
Manufacture of Electrical Machinery & Equipment	-2.2
Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment	-2.6
Production and Supply of Electricity ,Gas and Water	-1.4
Transport, Storage and Post	7.5
Of which: Railway Transportation	22.5
Road Transportation	13.0
Management of Water Conservancy, Environment and Public Facilities	-0.4
Of which: Management on Water Resource	-1.8
Management on Public Facilities	-2.9
Education	14.8
Health, Social Works	-3.1
Culture, Sports and Entertainment	16.1
Grouped by Registration Type
Domestic Funded	6.4
Funds from Hong Kong, Macao and Taiwan	0.0
Foreign Investment	3.4

Note: The growth rate in this table are all nominal growth rate.

Annotations:

1. Explanatory Notes on Indicators

Investment in fixed assets (excluding rural households): refers to the total workload on construction and purchase for fixed assets during a certain period in the form of currency, as well as the concerning expenses.

Stat-holding Enterprises: including absolutely state-holding enterprises, relatively state-holding enterprises and consultatively state-holding enterprises. Absolutely state-holding enterprises refer to those enterprises that the proportion of state investment capital to the total actual capital (or capital stock) is larger than 50 percent.

Relatively state-holding enterprises refer to those enterprises that the proportion of state investment capital to the total actual capital (or capital stock) is less than 50 percent, but larger than any other single share holders. Consultatively state-holding enterprises refer to those enterprises that the proportion of state investment capital to the total actual capital (or capital stock) is less than other share holders, but owning the real control power regulated by agreement.

The enterprises which the proportion of investment capital of the two investors is 50 percent, and the share holding control power is not clearly stated by either side, if one of them is state-owned, are all classified as the state-holding enterprises without exception.

The investment projects invested by the administrative and institutional units are all classified as state-holding.

Types of Registration: the types of registration on the enterprises are based on the Provisions for the Classification of Types of Enterprise Registration jointly issued by NBS and State Administration of Industry and Commerce. And that on the individual operation is based on Note on the Code & Classification of Types of Individual Operation Registration.

According to the provision of statistical reporting system, all grassroots units shall fill in registration types. The registration types shall be filled in by the enterprises or individual operation units engaged in investment in fixed assets. Those who have already registered in the industrial and commercial administrative units, shall fill in based on the registration types, if unregistered, shall be filled in based on the registration types of investors or that on the provisions of related papers.

Domestic enterprise includes state-owned enterprise, collective enterprise, joint enterprise, limited liability enterprise, share-holding enterprise, private enterprise and others.

Enterprises with funds from Hong Kong, Macao and Taiwan includes joint-venture and cooperation by Hong Kong, Macao and Taiwan, Hong Kong, Macao and Taiwan Sole Investment, Hong Kong, Macao and Taiwan Funded Share-holding Corporations Ltd., and other investment enterprises by Hong Kong, Macao and Taiwan.

Foreign investment enterprise includes joint-venture and cooperation enterprises, foreign funded enterprise, foreign funded share-holding corporations Ltd., and other foreign investment enterprises.

2. Statistical Coverage

Refers to construction projects on fixed assets and real estates involving a total planned investment of 5 million yuan and over.

3. Data Collection

The report of investment on fixed assets is collected monthly with complete enumeration (no report in January).

4. Classification on East, Central and West Region

Eastern region: including Beijing, Tianjin, Hebei, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Guangdong and Hainan. Central region: including Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan. Western region: including Inner Mongolia, Guangxi, Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Qinghai, Ningxia and Xinjiang. Northeastern region: including Liaoning, Jilin and Heilongjiang.

5. Standard Industrial Classification

NBS performed the industrial classification for national economic activities (GB/T 4754-2017).

6. Revision on Month-on-Month Data

According to the auto-revision function of the seasonal adjustment model, the month-on-month growth rate of investment on fixed assets from February 2018 to February 2019 has been revised as follows:

The Month-on-Month Growth Rate of Investment on Fixed Assets (Excluding Rural Households)
	Growth Rate (%)

2018-February	0.46
March	0.46
April	0.47
May	0.45
June	0.45
July	0.44
August	0.43
September	0.44
October	0.46
November	0.45
December	0.44
2019-January	0.45
February	0.43

7. Explanation of Year-on-Year Growth

According to the results of statistical law enforcement inspection and the fourth

national economic census unit inventory, the fixed assets investment base in 2018 was revised, and the growth rate was calculated on comparable basis.