Explanatory Notes on Main Statistical Indicators
Total Investment in Fixed Assets refers to the volume of
activities in construction and purchases of fixed assets and related fees ,
expressed in monetary terms . It is a comprehensive indicator which shows the
size, structure and growth of the investment in fixed assets, providing 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 the 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(RMB) 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.
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 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 from this category is capital in foreign exchanges
owned by
(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
departments under the provincial, prefecture and county governments. Also
included are projects by foreign-invested enterprises and enterprises without
competent managing authorities.
Investment in Fixed Assets
by Sector 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 refers 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 construction activities newly started in current year or left-over from
the previous year in the reference period. All projects that have construction
activities undertaken during the reference period are reported as projects
under construction irrespective of the length of construction work. The number
of projects under construction can reflect the actual size of investment in
fixed as sets 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 as sets.
Projects Completed and Put into Use This Year refers to
projects have been completed 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 of
designed 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.
Newly Increased Fixed Assets refers 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.
Floor Space of Building Under Construction refers to the total floor space
of the buildings under construction in the year by real estate development
enterprises. It includes buildings started in the year, continued from the
previous year, suspended in earlier years but restarted in the year, completed in
the year, and started in the year but suspended in the year as well. The floor
space of a multi-storied building should be the sum of floor space of all the
stories.
Floor Space of Buildings Completed refers to the total floor space area of
the buildings completed in the year by real estate development enterprises,
which meet the requirements as designed, reach the criteria set for people to
live in or use, have passed the acceptance checks, and are ready for delivery
or use.
Completion Rate of Floor Space of Buildings refers to the ratio of the floor
space of buildings completed in certain period of time to the floor space of buildings
under construction in the same period. this indicator reflects
the investment result from the perspective of the speed of construction.
Completion Rate of Floor Space of Building refers to the ratio of the
number of the floor space of all buildings completed in certain period of time
to floor space of building under construction in the same period. This indicator
reflects the investment result from the perspective of the speed of
construction.
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 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.
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) sold by real estate development enterprises
during the reference time.
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) received
from the sales of the buildings by real estate development enterprises during
the reference time. This indicator has the same coverage as the area of
commercialized housing sold.