Explanatory Notes on Main
Statistical Indicators
Total Investment in Fixed Assets in the Whole Country refers to the volume of activities
in construction and purchases of fixed assets of the whole country and related
fees, expressed in monetary terms during the reference period. It is a
comprehensive indicator which shows the size, structure and growth of the
investment in fixed assets, providing a basis for observing the progress of
construction projects and evaluating results of investment. Total investment in
fixed assets in the whole country includes, by type of ownership, the
investment by State-owned units, collective-owned units, joint ownership units,
share-holding units, private units, individuals as well as investments by entrepreneurs
from
Investment in Fixed Assets
(Excluding Rural Households) refers to the investment in construction projects with
a total planned investment of 5 million yuan and over
by enterprises of various ownerships, institutions, administrative units and
urban self-employed individuals, and the investment in real estate development
in both urban and rural areas. Since 2011, it covers the urban investment in
fixed assets under the previous statistical coverage plus project investments
by rural enterprises and institutions.
Investment in Real Estate Development refers to investment by real
estate development companies, commercialized buildings construction companies
and other real estate development units of various types of ownership in the
construction of buildings, such as residential buildings, factory buildings,
warehouses, hotels, guesthouses, holiday villages, office buildings, the
complementary service facilities and land development projects, such as roads,
water supply, water drainage, power supply, heating supply, telecommunications,
land leveling and other infrastructural projects. It does not include
activities in pure land transactions.
Total Size of Construction refers to the planned total investment for all construction projects during
the reference period.
Total Size of Investment in Projects under Construction refers to the planned
total investment of all projects under construction at the end of the reference
period.
Net Size of Investment in Projects under Construction refers to the outstanding
requirement of investment of all projects under construction at the end of the
reference period.
Net size of investment in projects under construction= Total size of investment
– Accumulated completed investment of projects under construction
Actual Funds in Place for Investment in Fixed Assets are categorized as
funds from the State budget, domestic loans, foreign investment, self-raised
funds, and others, depending on the sources of investment.
(1) Fund from the State budget: State budget consists of general budget,
government fund budget, operation budget of state-owned assets and social
security fund budget. Funds for investment in fixed assets from various budgets
are reported as fund from the state budget, of which, the general budget
utilized on fixed assets investment includes investment on infrastructure
construction, vehicle purchase tax, post-disaster restoration and
reconstruction funds and other financial investment. Government bonds at all
levels should also be included.
(2) Domestic loans refer to loans of various forms borrowed by investing
units from banks and non-bank financial institutions during the reference
period for the purpose of investment in fixed assets, including loans issued by
banks from their self-owned funds and deposit, loans appropriated by higher
responsible authorities, special loans by government
(including loan for substituting petroleum with coal,
special loans for reform-through-labour coal mines),
loans arranged by local government from special funds, domestic reserve loan,
and revolving loan, etc.
(3) Foreign investment refers to overseas (including foreign countries, Hongkong, Macao and Taiwan) funds received during the
reference period (covering equipment, materials and technology), including
foreign borrowings (loans from foreign governments and
(4) Self-raised funds refer to funds for investment in fixed assets
received during the reference period by investing units, including investment
in fixed assets using own funds of various enterprises and institutions or
funds raised from other units other than financial funds, funds borrowed from
financial institutions and overseas funds.
(5) Others refer to funds for investment in fixed assets received from
sources other than those listed above, including funds raised from individuals
and through donations, and funds transferred from other units.
Investment in Fixed Assets by Sector refers to the
classification of investment by the nature of social economic activities the
investing units are engaged in. The classification of construction projects by
sector is determined by the major products or the purpose of the projects when
they are put into production or use, and by the nature of their social economic
activities, instead of being determined by industrial classification of the
project enterprises. The project will be classified according to major product
if there are several kinds of products yielded. In general, one project can
only be classified into one sector.
Investment in Fixed Assets by Jurisdiction of Management refers to the classification of investment by the competent authorities under
which investment is made by construction units, enterprises, institutions or administrative
units.
(1) Central investment refers to the investment in projects or by
enterprises, institutions or administrative units which are under the direct
leadership and management of the State Council and of the national commissions,
ministries, agencies and State-owned large corporations. Various ministries and
departments of the State Council prepare and implement plans through unified organization
or lower-level commissions, which include departments direct under central
government (i.e. survey offices at all level of the National Bureau of
Statistics) and enterprises and institutions directly under central government
(like the Industrial and Commercial Bank of China, China Telecom and China
National Petroleum Corporation)..
(2) Local investment refers to the investment in projects or by
enterprises, institutions or administrative units which are under the direct
leadership and management of competent departments and governments at the level
of province (autonomous regions and
municipalities directly under the Central Government), prefecture （prefectures,
cities and leagues） and county (districts, cities and banners). Also included
are projects by foreign-invested enterprises and enterprises without competent
managing authorities.
Investment in Fixed Assets by Type of Construction Construction projects in general can be
classified, by the type of construction,
into new construction, expansion, reconstruction and technical
transformation, purely construction of living facilities, moving, restoration
and purely purchasing. However, investment by type of construction is not
applied to investment by real-estate development units and investment by rural
households.
(1) New construction in general refers to construction projects, which
start from scratch. The existing projects invested by enterprises, institutions
and administrative agencies cannot be classified as new construction. In case
the size of the existing unit is quite small, and the value of newly added
fixed assets is more than three times of the original value, the expansion will
be considered as new construction.
(2) Expansion refers to construction of new production workshop, branch
factory or independent production line within a factory or in other locations,
for the purpose of increasing the production capacity (or improving efficiency)
or adding new production capacity by enterprises and institutions. Newly
constructed accommodation for the operation of institutions and administrative
organizations (such as newly constructed buildings for teaching in schools,
buildings for clinics or wards in hospitals, etc.) are also classified as
expansion.
Also included in expansion are investments by existing enterprises or
institutions in building major production line(s) or branch factory (ies) along with some work on innovation, for the purpose of
expanding the production capacity of original products or producing new
products.
(3) Reconstruction and technical transformation refers to construction projects
by existing enterprises or institutions in innovation or technical
transformation of the old facilities (including auxiliary production equipment
and welfare facilities). Also considered as reconstruction is the construction
of new workshops by the existing enterprises or institutions to change the
variety of products to meet the market demand (such as the production of civil
products by defence industries), or to bring the
designed production capacity into full play through a more balanced production
process on production lines. Technical transformation refers to replacement of
old technology or equipment by new technology or equipment, in order to expand
the reproduction through improvement of technology contents in production, to
improve product quality, to promote new
products, to save energy, to reduce consumption, to expand the
production scale and to improve overall social-economic
efficiency. Contents of technical transformation include: updating of
machinery, equipment and tools; reforming production process by using energy or
materials saving technology; construction of factory workshops and
transformation of public facilities; treatment transformation of “three wastes”
(waste gas, waste water and industrial residue) aiming at environmental
protection; improvement of working conditions and environment, etc.
Investment in Fixed Assets by Structure
(1) Construction refers to the construction of houses and buildings, also
known as work volume of construction. This part of investment can only be
achieved through construction activities, it is the
major component of the total investment in fixed assets.
(2) Installation refers to the installation of various kinds of equipment
and instruments, also known as work volume of installation.
The value of equipment installed itself is not included in the value of
installation projects.
(3) Purchase of equipment and instruments refers to the total value of
equipment, tools, and instruments purchased or self-produced which come up to
the cut-off point for fixed assets during the reference period. Equipment,
tools and instruments purchased or self-produced for new workshops by newly
established or expanded units are categorized as “purchase of equipment and
instruments” no matter whether they come up to the cut-off point for fixed
assets.
(4) Other expenses refer to expenses arising during the construction or
purchase of fixed assets other than those expenses on construction,
installation and purchase of equipment and instruments. Other financial
expenses arising in operation are not included.
Number of Projects under Construction refers to number of all
projects with actual construction or installation activities in current year,
including newly started projects, projects started previously and extended into
the current year, projects completed and put into operation in current year,
projects suspended previously and resumed in current year, and projects started
this year but suspended or postponed in current year. The number of projects
under construction can reflect the actual size of investment in fixed assets
during a given period, and when compared with the number of projects completed
and put into use during the same period, it demonstrates the results of
investment in fixed assets from the angle of the speed of the construction.
Number of Projects Put into Use This Year refer to projects have completed the
main construction and correspondent auxiliary facilities in accordance with the
design documents, resulting in forming production capacity (efficiency) and have
been checked and accepted after relevant tests, and have been formally
delivered for use.
Newly Increased Production Capacity (or Project
Efficiency) refers to the increase in design capacity (or project
efficiency) through investment in fixed assets. The main indicators include:
construction scale, scale of projects under construction in current year, the
accumulated newly increased production capacity (project efficiency) since the
start of the projects and the newly increased production capacity (project
efficiency) of current year.
Construction Scale refers to the
total designed production capacity (project efficiency) of the construction
projects in accordance with the design document, including those have been put
into operation and those that have not been completed.
Scale of Projects under
Construction in Current Year refers to the designed production
capacity (project efficiency) of a single project (or renovation project) under
construction in the reference period, including the designed production
capacity of projects that have been started previously and still under
construction in the current year, the newly started projects, and projects that
have been completed and put into operation in the reference period or those
have been started but suspended or postponed in the reference period. Projects
that have been completed and put into operation, suspended or postponed before
the reference period, and projects that have not been
officially started in the reference period are not included.
The Accumulated Newly Increased
Production Capacity (project efficiency) since the Start of the Projects refers to the
accumulated newly increased production capacity of all the single projects
which have been put into use from the beginning of the projects till the end of
current year.
The Newly Increased
Production Capacity (project efficiency) of Current Year refers to the
production capacity (project efficiency) that has been completed and put into
operation in current year according to the calculation conditions and standards
on newly increased production capacity (project efficiency).
Newly Increased Fixed Assets refer to the value of
fixed assets that has completed the construction and purchase, and has been
delivered to the production or owner units, including investment in projects
that have been completed and put into operation in current year and the
investment in equipment, tools and appliance that meet the standard of fixed
assets and fees that should be apportioned. This is an indicator that
demonstrates the results of investment in fixed assets in monetary terms, and
an important indicator to reflect the speed of construction and to calculate
the efficiency of investment.
Rate of Construction Projects Completed and Put into Use refers to the ratio of
the number of construction projects completed and put into use in a certain
period of time to the number of projects under construction in the same period.
This reflects the investment efficiency from the perspective of the speed of
projects construction.
Rate of Projects of Fixed Assets Completed and Put into Operation refers to the ratio of
the newly increased fixed assets to the total investment made in the same
period. This is a comprehensive indicator reflecting the speed of the
employment of fixed assets and the investment efficiency at the macro-level. As
the newly increase fixed assets is the result of a long period while the
investment is completed in the current year, this indicator is expected to be
used to reflect the employment of fixed assets over a long period of time.
Area of Commercialized Housing Sold refers to total contracted
area of commercialized housing (i.e. area of floor space as designated in the
formal contracts signed by both sides) during the reference time. It
constitutes floor space of completed housing and floor space of future housing.
Value of Commercialized Housing Sold refers to the total
contracted value (i.e. value of sales/purchase for selling/purchase of
commercialized housing as designated in the contract signed by both sides)
during the reference time. This indicator has the same coverage as the area of
commercialized housing sold, which constitutes floor space of completed housing
and floor space of housing yet to be completed.