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 by registration status includes: 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 Hong Kong, Macao and Taiwan, foreign investors and others.

Investment in Fixed Assets (Excluding Rural Households) refers to the investment in construction projects with a total planned investment of 5 million yuan and above，carried out  by enterprises of various ownerships, institutions, administrative units in both urban and rural areas, urban self-employed individuals, as well as investment in real estate development. Since 2011, it covers the urban investment in fixed assets under the previous statistical coverage and the investments by rural enterprises and institutions.

Non-governmental Investment in Fixed Assets  refers to the investment in the construction or purchase of fixed assets in the territory of the People's Republic of China by domestic-funded enterprises and institutions with an ownership of collective, private and personal nature and by enterprises and institutions controlled by them (including absolute and relative holding).

Infrastructure Investment  refers to projects and facilities that provide basic and public services for social production and life, which constitute the basic condition for the survival and development of society. It includes: railway transport, road transport, water transport, air transport, pipeline transport, multimodal transport and transport agents, loading and unloading, posts, telecommunications, radio and television and satellite transmission services, internet and related services, management of water conservancy, ecological protection and environmental governance, public facilities management.

Actual Funds Available for Investment  refer to all kinds of monetary funds available for investment in fixed assets. It includes state budget funds, domestic loans, foreign capital, self-raised funds and other funds.

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. Generally speaking, the general budget utilized on fixed assets investment includes infrastructure construction budget, vehicle purchase tax, post-disaster restoration and reconstruction funds and other financial investment. Government bonds at all levels should also be included.

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.

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 international financial institutions, export credit, commercial loans from foreign banks, issue of bonds and stocks overseas), foreign direct investment and other foreign investments (including funds from foreign direct investment income that are reinvested in fixed assets domestically). Excluded are self-owned foreign exchanges owned by China (foreign exchanges owned by the central and local governments, foreign exchanges retained by enterprises, foreign exchanges by enterprises through the regulating mechanism, loans in foreign exchanges issued by the Bank of China with its own fund, etc.). In calculating the utilization of foreign capital, foreign currencies are converted into Chinese Renminbi applying the exchange rate (central parity rate) at the end of the reference period.

Self-raised Funds  refer to funds for investment in fixed assets received during the reference period by investing units, including self-owned funds owned by various enterprises and institutions and funds raised from other units, excluding financial funds, funds borrowed from financial institutions and overseas funds.

Other Funds  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 where 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 investing enterprises. The project will be classified according to the major product in case there are several categories of products after the project in completed and put into operation. 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 government projects refer to the investment in projects or by enterprises, institutions or administrative units which are under the direct leadership and management of the Central Committee of the CPC, the Standing Committee of the National People’s Congress, 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, China National Petroleum Corporation, etc.).

(2) Local projects refer 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 or enterprises, institutions or administrative units which are not under the jurisdiction of any of the above-mentioned authorities, such as enterprises invested by foreign enterprises or 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, construction soly for living facilities, moving, restoration and pure purchases. However, investment by rural households is not classified by type of construction.

(1) New construction in general refers to construction projects which start from scratch. The projects invested by existing 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 investment will be classified as new construction.

(2) Expansion refers to projects of 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. 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 classified as 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). 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 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 Composition of Funds

(1) Construction refers to the construction of houses and buildings. This part of investment can only be achieved through construction activities using labour force and materials, and 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 standards 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 standards 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.

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 that meet the calculation criteria and standards on newly increased production capacity (project efficiency).