Investment in Fixed Assets From January to March 2023

National Bureau of Statistics of China 2023-04-19 10:00 Print| Large| Medium| Small

From January to March, the national fixed assets investment (excluding rural households) was 10,728.2 billion yuan, a year-on-year increase of 5.1 percent. Among them, private fixed assets investment was 5,853.2 billion yuan, a year-on-year increase of 0.6 percent. From a month-on-month comparison, fixed asset investment (excluding rural households) decreased by 0.25 percent in March.

From the perspective of industries, the investment in the primary industry was 242.5 billion yuan, a year-on-year increase of 0.5 percent; the investment in the secondary industry was 3,396.4 billion yuan, up 8.7 percent; the investment in the tertiary industry was 7,089.4 billion yuan, up 3.6 percent.

In the secondary industry, industrial investment increased by 8.6 percent year-on-year. Among them, investment in mining industry increased by 0.6 percent, investment in manufacturing industry increased by 7.0 percent, and investment in the production and supply of electricity, heat power, gas and water increased by 22.3 percent.

In the tertiary industry, investment in infrastructure(excluding the production and supply of electricity, heat power, gas and water) increased by 8.8 percent year-on-year. Among them, the investment in the management of water conservancy increased by 10.3 percent, the investment in the management of public facilities increased by 7.7 percent, the investment in highway transportation increased by 8.5 percent, and the investment in railway transportation increased by 17.6 percent.

In terms of regions, the investment in the eastern region increased by 6.5 percent, the investment in the central region increased by 1.5 percent, the investment in the western region increased by 4.9 percent, and the investment in the northeast region increased by 13.7 percent.

According to the types of registration, the fixed asset investment of domestic enterprises increased by 5.3 percent, that of Hong Kong, Macao and Taiwan enterprises decreased by 3.4 percent, and that of foreign enterprises increased by 3.7 percent.

Investment in Fixed Assets from January to March in 2023

Indicators	Jan-Mar Increase rate Y/Y (%)
Investment in Fixed Assets (Exclude Rural Households) (100 million yuan)	5.1
Of which: State-owned and State Holding	10.0
Of which: Private Investment	0.6
Grouped by Constitution
Construction and Installation	4.1
Purchase of Equipment and Instruments	4.2
Other Expenses	8.2
Grouped by Types of Industry
Primary Industry	0.5
Secondary Industry	8.7
Tertiary Industry	3.6
Grouped by Sectors
Agriculture, Forestry, Animal Husbandry and Fishery	3.4
Mining	0.6
Manufacturing	7.0
Of which: Processing of Food from Agricultural and Sideline Products	10.1
Manufacture of Foods	5.8
Textile Industry	-4.3
Manufacture of Raw Chemical Materials and Chemical Products	19.2
Manufacture of Medicine	-1.9
Smelting and Pressing of Non-Ferrous Metal	10.8
Manufacture of Metal Products	2.2
Manufacture of General Purpose Machinery	7.6
Manufacture of Special Purpose Machinery	10.6
Manufacture of Automobiles	19.0
Manufacture of Railways, Shipbuilding, Aerospace and Other Transportation Equipment	-7.9
Manufacture of Electrical Machinery and Apparatus	43.1
Manufacture of Computers, Communication Equipment and Other Electronic Equipment	14.5
Production and Supply of Electricity, Heat Power, Gas and Water	22.3
Transport, Storage and Post	8.9
Of which: Railway Transportation	17.6
Highway Transportation	8.5
Management of Water Conservancy, Environment and Public Facilities	7.8
Of which: Management of Water Conservancy	10.3
Management of Public Facilities	7.7
Education	6.2
Health and Social Service	18.5
Culture, Sports and Entertainment	0.4
Grouped by Types of Registration
Of which: Domestic Funded	5.3
Funds from Hong Kong, Macao and Taiwan	-3.4
Foreign Investment	3.7
Note: The speed in this table is not deducted from 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: in the total paid in capital of the enterprise, the paid in capital (capital stock) owned by the investors of the state-owned economic component accounts for more than 50 percent of the total paid in capital (capital stock) of the enterprise.

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/T4754-2017).

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 March 2022 has been revised. The revised results and the month-on-month data of March 2023 are as follows:

Months	Growth Rate (%)
2022-March	1.89
April	-1.28
May	0.69
June	0.51
July	0.02
August	0.31
September	0.35
October	0.33
November	-0.67
December	1.33
2023-January	0.28
February	0.48
March	-0.25