Investment in Fixed Assets from January to December 2021
National Bureau of Statistics of China2022-01-18 10:00

From January to December 2021, the national fixed asset investment (excluding rural households) was 54,454.7 billion yuan, an increase of 4.9 percent over the previous year; it was 8.0 percent higher than that from January to December 2019, with an average growth of 3.9 percent in the two years. Among them, private fixed asset investment was 30,765.9 billion yuan, an increase of 7.0 percent over the previous year. On a month-on-month basis, investment in fixed assets (excluding rural households) increased by 0.22 percent in December.



By industry, the investment in the primary industry was 1,427.5 billion yuan, an increase of 9.1 percent over the previous year; the investment in the secondary industry was 16,739.5 billion yuan, an increase of 11.3 percent; the investment in the tertiary industry was 36,287.7 billion yuan, an increase of 2.1 percent.


In the secondary industry, industrial investment increased by 11.4 percent over the previous year. Among them, investment in mining industry increased by 10.9 percent, investment in manufacturing industry increased by 13.5 percent, and investment in power, heat, gas and water production and supply industry increased by 1.1 percent.


In the tertiary industry, infrastructure investment (excluding power, heat, gas and water production and supply) increased by 0.4 percent over the previous year. Among them, investment in water conservancy management increased by 1.3 percent, investment in public facilities management decreased by 1.3 percent, investment in road transportation decreased by 1.2 percent, and investment in railway transportation decreased by 1.8 percent.


By region, investment in the eastern region increased by 6.4 percent, that in the central region increased by 10.2 percent, that in the western region increased by 3.9 percent, and that in the northeast region increased by 5.7 percent.


According to the types of registration, the investment of domestic enterprises increased by 4.7 percent, that of Hong Kong, Macao and Taiwan enterprises increased by 16.4 percent, and that of foreign enterprises increased by 5.0 percent.


Investment in Fixed Assets from January to December 2021






Increase rate Y/Y





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



 Of which: State-owned and State Holding



Of which: Private Investment



Grouped by Constitution



Construction and Installation



Purchase of Equipment and Instruments



Other Expenses



Grouped by Types of Industry



 Primary Industry



 Secondary Industry



 Tertiary Industry



Grouped by Industrial Sectors



 Agriculture, Forestry, Animal Husbandry and Fishery









Of which: Processing of Food from Agricultural Products



Manufacture of Foods



Manufacture of Textile



Manufacture of Chemical Raw Material and Chemical Products



Manufacture of Medicines



Smelting and Pressing of Non-Ferrous Metal



Manufacture of Fabricated Metal Products



Manufacture of General Purpose Machinery



Manufacture of Special Purpose Machinery



Manufacture of Automobile



Manufacture of Railways, Shipbuilding, Aerospace and Other Transportation Equipment



Manufacture of Electrical Machinery & Equipment



Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment



 Production and Supply of Electricity ,Gas and Water



 Transport, Storage and Post



  Of which: Railway Transportation



Road Transportation



 Management of Water Conservancy, Environment and Public Facilities



  Of which: Management on Water Resource



Management on Public Facilities






 Health, Social Works



 Culture, Sports and Entertainment



Grouped by Registration Type



 Domestic Funded



 Funds from Hong Kong, Macao and Taiwan



 Foreign Investment





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





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.


In the total paid in capital of an enterprise, although the proportion of paid in capital (share capital) owned by the investors with state-owned economic components is not more than 50 percent, the proportion of state-owned relative holding shares is relatively greater than that of investors with other economic components; or the proportion of state-owned contractual holding shares is not greater than that of investors with other economic components but has the actual control right of the enterprise according to the 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 basis for classifying the types of enterprise registration is the type of enterprise registration by the administrative department for Industry and commerce. The notice on adjustment of provisions on the classification of enterprise registration type (Guo Tong Zi [2011] No. 86) issued jointly by the National Bureau of Statistics and the State Administration for Industry and Commerce shall be followed. The classification of registration types of individual business is carried out according to the relevant provisions of the National Bureau of Statistics and the notice of the National Bureau of Statistics on Classification and Code of Registration Types of "Individual Business" (Guo Tong Ban Zi [1999] No. 2). 


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 since December 2020 has been revised as follows:


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

(Excluding Rural Households)



Growth Rate (%)






























7.Explanation of Year-on-Year Growth


According to the regulations of the statistical law enforcement inspection and statistical investigation system, the fixed asset investment data of the same period last year were revised, and the growth rate was calculated according to the comparable basis.


 8. Description of Average Growth Rate in Two Years


The two-year average growth rate refers to the growth rate calculated by geometric average method based on the corresponding number of the same period in 2019.


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