Investment in Fixed Assets for the First Four Months of 2016

In the first four months of 2016, the investment in fixed assets (excluding rural households) reached 13,259.2 billion yuan, up by 10.5 percent year-on-year in nominal terms, and the growth rate was 0.2 percentage points lower than that in the first three months. In April, the investment in fixed assets (excluding rural households) increased 0.72 percent, month-on-month.

In term of different industries, the investment in primary industry was 330.0 billion yuan, went up by 21.7 percent year-on-year, a decrease of 3.8 percentage points over the first three months; that of secondary industry was 5,275.4 billion yuan, went up by 7.3 percent, the growth rate remained at the same level over the first three months; that of tertiary industry was 7,653.8 billion yuan, went up by 12.4 percent, a decrease of 0.2 percentage points.

In secondary industry, the investment in industry reached 5,180.7 billion yuan, increased 6.9 percent year-on-year, and the growth rate increased 0.2 percentage points over the first three months. Of which, the investment in mining industry stood at 202.5 billion yuan, went down by 15.3 percent, and the pace of decline narrowed by 2.8 percentage point; that of manufacture, 4,327.9 billion yuan, increased 6.0 percent, and the growth rate dropped by 0.4 percentage points; that of production and supply of electric power, heat power, gas and water, 650.4 billion yuan, increased 23.7 percent, an increase of 4.3 percentage points.

In tertiary industry, the investment in infrastructure (excluding electricity) was 2,415.9 billion yuan, increased 19.0 percent year-on-year, a decrease of 0.6 percentage points over the first three months. Of which, the investment in management of water conservancy increased 23.7 percent, down by 3.1 percentage points; that of management of public facilities increased 28.3 percent, down by 2.7 percentage points; that of transport via road increased 10.4 percent, up by 0.3 percentage points; that of transport via railway increased 3.9 percent, up by 1.8 percentage points.

In term of different areas, the investment in eastern region amounted to 6,183.3 billion yuan, rose by 10.8 percent year-on-year, and the growth rate decreased 0.2 percentage points over the first three months; that of central region, 3,500.5 billion yuan, increased 13.5 percent, an increase of 0.2 percentage points; that of western region, 3,086.4 billion yuan, increased 13.2 percent, remained at the same level; that of northeastern region, 394.3 billion yuan, decreased 24.7 percent, and the pace of decline widened by 5.4 percentage points.

In term of types of registration, the investment by domestic enterprises was 12,510.4 billion yuan, went up by 10.2 percent year-on-year, and the growth rate decreased 0.2 percentage points over the first three months; investment by funds from Hong Kong, Macao and Taiwan was 380.8 billion yuan, went up by 22.7 percent, a decrease of 1.3 percentage points; and the investment by foreign funds was 328.6 billion yuan, up by 12.4 percent, an increase of 1.1 percentage points.

In terms of jurisdiction of project management, the central investment reached 549.7 billion yuan, increased 10.0 percent year-on-year, and the growth rate increased 7.2 percentage points over the first three months; the local investment was 12,709.5 billion yuan, up by 10.5 percent, a decrease of 0.6 percentage points.

Analysis on projects under construction or started this year showed that, the total planned investment in projects under construction reached 68,032.5 billion yuan, up by 8.3 percent year-on-year, and the growth rate increased 1.6 percentage points over the first three months. The total planned investment in newly started projects was 12,880.4 billion yuan, up by 38.0 percent year-on-year, a decrease of 1.5 percentage points.

In terms of paid-in funds, 15,807.7 billion yuan had been invested, rose by 8.1 percent year-on-year, and the growth rate increased 1.7 percentage points over the first three months. Of this total, the growth of government budgetary funds went up by 22.9 percent, an increase of 6.0 percentage points, investment from domestic loans went up by 11.4 percent, a decrease of 2.5 percentage points, that from self-raising funds went up by 1.5 percent, while that in the first three months was down by 0.2 percent, that from foreign investment decreased 20.9 percent, and the pace of decline narrowed by 4.7 percentage points, other investment went up by 37.5 percent, an increase of 6.1 percentage points.

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.

Paid-in fund: refers to all funds received by investment units used for fixed assets during the reference period, including state budgetary fund, domestic loans, foreign investment, self-raised funds, and others.

Newly started project: refers to all newly started construction projects during the reference period.

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

Since 2012, NBS performed the new standard on industrial classification for national economic activities (GB/T 4754-2011), please refer to  http://www.stats.gov.cn/tjsj/tjbz/hyflbz. 

6. Explanatory Notes on Growth Rate

The growth rate of investment in fixed assets are calculated in nominal except that in Jan.- Mar., Jan.-Jun., Jan-Sep. and Jan.-Dec. in case of the price indices of investment in fixed assets are calculated on quarterly.

7. 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 2015 to April 2016 has been revised as follows: