Investment in Fixed Assets from January to April 2020
National Bureau of Statistics of China2020-05-18 09:30




From January to April, China's fixed asset investment (excluding rural households) was 13,682.4 billion yuan, down 10.3 percent year-on-year, 5.8 percentage points lower than that from January to March. Among them, private fixed asset investment was 7,736.5 billion yuan, down 13.3 percent, and with the pace of decline 5.5 percentage points lower. In terms of the month on month growth rate, fixed asset investment (excluding rural households) increased by 6.19 percent in April.

 

 

In term of different industries, the investment in the primary industry was 310.2 billion yuan, down 5.4 percent year-on-year, 8.4 percentage points lower than that from January to March; the investment in the secondary industry was 4,093.7 billion yuan, down 16.0 percent, and with the pace of decline 5.9 percentage points lower; the investment in the tertiary industry was 9,278.5 billion yuan, down 7.8 percent, with the pace of decline 5.7 percentage points lower.

 

In the secondary industry, industrial investment decreased 15.1 percent year on year, 6.0 percentage points of decrease narrower than that in January to March. Among them, the investment in mining industry decreased 9.2 percent, enlarged 6.0 percentage points of decrease; manufacturing investment went down 18.8 percent, narrowed 6.4 percentage points of decrease; investment growth in power, heat, gas and water production and distribution industries rose by 7.6 percent , 5.6 percentage points of increase in growth rate.

 

In the tertiary industry, infrastructure investment (excluding power, heat, gas and water production and distribution industries) decreased by 11.8 percent year on year, 7.9 percentage points of decrease narrower than that in January to March  Among them, investment in water conservancy management industry decreased by 6.0 percent , 7.6 percentage points of decrease narrower; investment in public facilities management decreased by 13.6 percent , 6.9 percentage points of decrease narrower; investment in road transport industry decreased by 9.4 percent , 8.1 percentage points of decrease narrower; investment in railway transportation industry decreased by 16.1 percent , 12.5 percentage points of decrease narrower.

 

By region, investment in the eastern region decreased by 7.3 percent year-on-year, 5.0 percentage points lower than that in January March; investment in the central region decreased by 20.3 percent, 7.5 percentage points of decrease narrower; investment in the western region decreased by 4.5 percent, 6.3 percentage points of decrease narrower; investment in the northeast region decreased by 7.5 percent, 6.7 percentage points of decrease narrower.

 

According to the types of registration, the investment of domestic enterprises decreased by 10.6 percent year-on-year, 5.7 percentage points lower than that from January to March; the investment of Hong Kong, Macao and Taiwan enterprises decreased by 6.6 percent, 6.4 percentage points of decrease narrower; the investment of foreign enterprises decreased by 1.3 percent, 7.7 percentage points of decrease narrower.

 

Investment in Fixed Assets from January to April 2020

 

 

Indicators

Jan-Apr

 

Increase rate Y/Y

(%)

 

   

 

Investment in Fixed Assets (Exclude Rural Households) (100 million yuan)

-10.3

 

 Of which: State-owned and State Holding

-6.9

 

Of which: Private Investment

-13.3

 

Grouped by Constitution

 

 

Construction and Installation

-11.3

 

Purchase of Equipment and Instruments

-21.6

 

Other Expenses

2.6

 

Grouped by Types of Industry

 

 

 Primary Industry

-5.4

 

 Secondary Industry

-16.0

 

 Tertiary Industry

-7.8

 

Grouped by Industrial Sectors

 

 

 Agriculture, Forestry, Animal Husbandry and Fishery

-3.9

 

 Mining

-9.2

 

 Manufacturing

-18.8

 

Of which: Processing of Food from Agricultural Products

-27.9

 

Manufacture of Foods

-21.5

 

Manufacture of Textile

-32.5

 

Manufacture of Chemical Raw Material and Chemical Products

-22.4

 

Manufacture of Medicines

-2.7

 

         Smelting and Pressing of Non-Ferrous Metal

-9.7

 

Manufacture of Fabricated Metal Products

-23.8

 

         Manufacture of General Purpose Machinery

-25.1

 

         Manufacture of Special Purpose Machinery

-19.6

 

         Manufacture of Automobile

-22.9

 

        Manufacture of Railways, Shipbuilding, Aerospace and Other Transportation Equipment

-26.2

 

Manufacture of Electrical Machinery & Equipment

-23.0

 

Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment

1.1

 

 Production and Supply of Electricity ,Gas and Water

7.6

 

 Transport, Storage and Post

-12.1

 

  Of which: Railway Transportation

-16.1

 

Road Transportation

-9.4

 

 Management of Water Conservancy, Environment and Public Facilities

-11.2

 

  Of which: Management on Water Resource

-6.0

 

Management on Public Facilities

-13.6

 

 Education

2.9

 

 Health, Social Works

4.0

 

 Culture, Sports and Entertainment

-14.8

 

Grouped by Registration Type

 

 

 Domestic Funded

-10.6

 

 Funds from Hong Kong, Macao and Taiwan

-6.6

 

 Foreign Investment

-1.3

 

   

 

Note: The growth rate in this table are all nominal growth rate without deducting the price factor.

 

 

     

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 shareholders. 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 shareholders, 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 shareholding 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 estate 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 April 2019 to March 2020 has been revised as follows:

 

The Month-on-Month Growth Rate of Investment on Fixed Assets

(Excluding Rural Households)

 

Growth Rate (%)

   

2019- April

0.42

May

0.42

June

0.44

July

0.43

August

0.42

September

0.44

October

0.41

November

0.42

December

0.42

2020-January

-3.67

February

-19.96

March

6.10

April

6.19

   

 

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 the previous year was revised, and the growth rate was calculated on comparable basis.

 

Annex
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