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 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 const
ruction 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 units, individuals, joint ownership
units, share-holding units, as well as investment by businessmen from foreign
countries and from Hong Kong, Mac au and
Investment
in Capital Construction Capital
construction refers to the new construction projects or extension projects and
the related activities of the enterprises, institutions or administrative units
mainly for the purpose of expanding production capaCity (or improving project
efficiency), covering only projects each with a total investment of 500,000 RMB
yuan and over. It includes: (1) projects listed in t he capital construct ion plan
of the current year of the central government and the local governments at
various levels as well as the projects, though not listed in the capital
construction plan of the current year, but Continued to be constructed in this
year, using the investment listed in the plan of capital construction of
previous years and carried forward to this year (also using the equipment and
materials kept in stock of the capital construction); (2) new construction projects
arranged both in the plan of capital const ruction and the plan of innovation;
extension projects with the newly increased production capaCity (or project
efficiency) up to the standard of a large and medium-sized project; and the
projects of moving the whole factory to a new site so as to improve t he distribution
of productive forces; (3) new construction projects, extension projects or
restoration projects with the total investment of 500,000 RMB yuan and over by
the state-owned units, though listed neither in the plan of capital
construction nor in the plan of innovation; the projects in the state-owned
units of moving the whole factory to a new site so as to improve the
distribution of productive forces; and the projects of building additional business
houses by the administrative units and institutions and building welfare
facilities by the administrative units.
Investment
in Innovation Innovation
refers in general to the technological innovation of the original facilities
(including renewal of fixed assets) by the enterprises and institutions as well
as the corresponding supplementary projects for production or welfare
facilities and the related activities, covering only projects each with a total
investment of 500,000 RMB yuan and over. It includes: (1) projects listed in
the innovation plan of the current year of the central government and the local
governments at various levels as well as the projects, though not listed in the
innovation plan of the current year, but Continued to be constructed in this
year , using the investment listed in the plan of innovation of previous years
and carried forward to this year; (2)projects of technological innovation or
renewal of t he original facilities, arranged both in the plan of innovation
and in the plan of capital construction; extension projects (main workshops or
a branch of the factory) with the newly increased production capaCity (or
project efficiency) not up to the standard of a large and medium-sized project;
and the projects of moving the whole factory to a new site so as to meet the
requirements of urban environmental protection or safe production; (3) projects
of reconstruction or technological innovation wit h the total investment of
500,000 RMB yuan and over by the state-owned units, though listed neither in
the plan of capital construction nor in the plan of innovation; the projects in
the state-owned units of moving the whole factory to a new site so as to meet
the requirements of urban environmental protection or safe production.
Investment
in Real Estate Development
It includes the investment by the real estate development companies, commercial
buildings construction companies and other real estate development units of
various types of ownership in the construction of house buildings, such as
residential buildings, factory buildings, warehouses, hotels, guesthouses,
holiday villages, off ice buildings, and the complementary ser vice facilities
and land development projects, such as roads, water supply, water drainage, power
supply, heating, telecommunications, land leveling and other projects of
infrastructure. It excludes the activities in simple land transact ions.
Other
Investment in Fixed Assets
refers to the construction and purchases of fixed assets with an investment of
over 500,000 yuan which are not listed in the investment in capital construction,
investment in innovation and investment in realest ate development, as well as
urban private housing projects and investment in fixed assets by enterprises,
institutions and individuals in rural areas. It includes: 1) The following
projects of the state-owned units with the tot al planned (or actually needed)
investment of over 500, 000 yuan, which are not included in the plan of capital
construction and the plan of innovation: (1) projects of oil fields maintenance
and exploitation with the oil fields maintenance funds and petroleum development
funds; (2) opening and extending projects with the maintenance funds in coal,
ore and other mining enterprises and logging enterprises; (3) project of
reconstruction of the original highways and bridges with the highway
maintenance funds in the department of communication; (4) projects of
construction of warehouses with the funds of simple construction in the
commercial department.
2) The investment in fixed assets by urban
collective units: refer to projects of construction and purchases of fixed
assets with the planned total investment of 500,000 yuan and over by all
collective unit s in areas under the jurisdiction of cities and County towns
(excluding investment by collective unit s under township enterprise
administration off ices).
3) The projects of const ruction and
purchases of fixed as-sets by the enterprises, institutions (including urban
private enterprises or institutions) or individuals other than those mentioned above
with total investment of 500, 000 yuan and over, which are not included in the
plan of capital construction and the plan of innovation. For individual
investment, only the investment in non-housing projects is to be included.
4) The private investment in housing
construction in the urban areas and in industrial and mining areas: including
all private housing construction under t he jurisdiction of cities, County towns
and industrial and mining areas, no matter whether the owner of the house is
registered as the permanent resident in the locality or not.
5) The investment in rural areas:
including investment in fixed assets by enterprises, institutions and
individuals in the rural areas.
Sources
of Funds for Investment in Fixed Assets include fund from state budget, domestic loans,
foreign investment, self-raised funds, and others depending on the source of investment.
(1) Fund from stat e budget consists of
budgetary appropriation and loans from state budget. More specifically, it
includes, from the budget of the central government, capital construction fund
(operation fund and non-operational fund), special expenses (e.g. expenses on
substituting petroleum with coal), loans from repayment, discount fund,
expenses on innovation and trial production of new products, expenses on urban
construction, expenses on temporary construction by trade departments, development
fund for less developed areas, as well as local budgetary fund transfer red
from the central budget.
(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 loan
for reform-through-labour coal mines), loans arranged by local government from
special funds, domestic reserve loan, and working loan, etc..
(3) Foreign Investment refers to foreign
funds received during the reference period for the construct ion and purchase
of investment in fixed assets (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 investment. Excluded in this category are capitals in foreign exchanges
owned by
(4) Self-raised funds refer to
extra-budgetary funds for in-vestment in fixed assets received by investing
units from central government ministries, local governments, enterprises and
institutions, including their self-raised funds.
(5) Others refer to funds for investment in
fixed assets received from the sources other than those listed above, including
capitals raised through issuing bonds by enterprises or financial institutions,
funds raised from individuals and through donations, and funds transferred from
other units.
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. The investment in capital
construction is classified into different sectors of the national economy by
the nature of construction projects, while investment in innovation and other investment
are classified according to the sector to which the whole enterprise or
institution belongs. In general, one project or one enterprise or institution
can only be classified into one sector. In order to reflect more accurately the
relation among various sectors, the branch factories of an integrated complex
are classified into different sectors according to the economic activities of the
branch factories.
Investment
in Fixed Assets by Type of Construction The const ruction projects in general can be
classified, by t he type of construct ion, into new construction, expansion,
reconstruction, moving and restoration. However, investment by type of
construction is not applied to investment by real-estate development units,
investment in rural areas and investment in housing by urban individuals. In
capital construct ion, the type of construction is determined by the nature of
the project. In in-vestment in innovation, in other investment by state-owned
units and investment by collective-owned units, the type of construction is
determined by the condition of the whole enterprise or institutions.
(1) New construction in general refers to
newly constructed enterprises, institutions, administrative agencies or
independent projects from scratch. Construction in the existing enterprises, institutions
or agencies is not considered as new construction. In case the assets of the
existing unit is quite small, and the value of newly added fixed asset s
exceeds the original value of assets by three times, the expansion will be
considered as new construction.
(2) Expansion refers to const ruction of
new major 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) of the original products. Newly constructed
houses for the operation of institutions and administrative organizations (such
as the newly constructed buildings for teaching in schools, buildings for
clinics or wards in hospitals, etc.) are also classified as expansion. Also
included in t he 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 exp ending the production
capaCity of original products or producing new products.
(3) Reconstruction refers to innovation or
technical transformation of the existing facilities (including auxiliary
production equipment and welfare facilities), without building major new workshops
or branch factories. Also considered as reconstruction is the construction of
new work shops by the existing enterprises or institutions for improving the
existing production capaCity (improving or changing the variety of products to
meet the market demand), rather than increasing the designed capaCity of the
main products.
Investment
in Fixed Assets by Structure
By their contents, investment activities are classified into 3 categories, i.e.
construction and installation, purchase of equipment and instrument, and other
expenses.
(1) Construction and installation (work
volume of construction and installation) refers to the construction of various
houses and buildings and installation of various kinds of equipment and instruments.
They include construction of various houses; equipment foundations, industrial
kilns and stoves, and met al structure work; preparation works for project
construction, and clearing up works post project construction; pavement of
railways and roads, drilling of mines and putting up of oil pipes; construction
of projects of water conservancy; construction of under-ground air-raid
shelters and construction of other special projects; value of equipment for
heating, sanitation, ventilation, lighting, gas, painting, etc. that are
covered by the budget of housing projects; laying out of various pipelines (for
steam, compressed air, petroleum, tap water and sewage) and lines for electric
power and for communications; installation of various machinery equipment, testing
operation for pre-testing the quality of installation projects, and land and
other development work conducted by real estate developers for commercial
housing. The value of equipment installed is not included in the value of
installation projects.
(2) Purchase of equipment and instrument s
refers to the tot al value of equipment, tools, and instruments purchased or self-produced
which come up to standards for fixed assets by the construction units or
investing enterprises or institutions. 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.
(3) Other expenses refer to expenses
occurring during the construct ion or purchase of fixed assets other than those
mentioned above.
Capital
Construction Project s by Size The classification of size of capital construction projects should be
determined according to the total scale or tot al investment set in the
approved construct ion plan by higher responsible authorities or in the
tentative design, otherwise according to the total scale or tot al investment
set in the current capital construction plan of the state, provinces,
autonomous regions, and municipalities directly under central government.
Industrial projects which pro-duce unitary products are classified according to
its design capaCity of products; project s which produce multi- products are classified
by the design capaCity of the major product or by the total planned investment.
Standards for the Classification of Construction Project s into large,
medium-sized and small ones issued by the government are the base for size
division of construction projects, which was revised five times in 1958, 1962,
1972, 1977, and 1979 respectively and therefore, data on projects by size are not
entirely comparable from year to year.
Projects
under Construction refer
to projects with construction and installation activities undertaken 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 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. Depending on the nature of const ruction activities, projects under
construction can also be classified into projects under construct ion in
current y ear, winding-up projects in current year and stopped or suspended
projects in previous years (with preservation work in current year).
Projects
Completed and Put into Use
Industrial projects refer to the major projects and accessory facilities
completed which result in forming production capaCity and have been checked and
accepted while the living and welfare facilities have been completed and can
ensure normal production and formally put into production. Non-industrial
projects refer to the major project s and accessory facilities completed which
possess the designed capaCity and have been checked, accepted and formally put
into production.
Newly
Increased Production CapaCity (or Project Efficiency) refers to
the increase of designed capaCity (or project efficiency) through investment in
fixed assets, which reflects the accomplishment of investment in fixed assets
in kind and serves as important basis for evaluating the economic efficiency of
in-vestment.
The newly increased product ion capaCity
(project efficiency) are usually expressed in one of the following forms:
(1) output of products, i.e. the output
that the project can produce during a given period (usually a year). For
instance, the capaCity in coal mining is expressed in 10, 000 tons/year , the capaCity
in producing chemical pesticides expressed in ton/year, the capaCity in
producing tractors in tractor/year, etc. For some chemical products where the
effective contents differ significantly, the production capaCity is expressed
as the designed effective content equivalent, such as in the case of sulphuric
acid, soda ash, caustic soda, etc;
(2) raw materials processing capaCity, i.e.
the volume of raw materials that could be processed by the project per day (or per
hour), such as tons of materials processed per day by a sugar refining project
or edible vegetable oil project, or tons of urban sewage processed per day;
(3) number or capaCity of major equipment
increased, such as number of cotton or silk looms increased, wool spindles
in-creased, or capaCity (in kilowatt s) of power generators increased;
(4) saved raw materials, fuels or power,
which are mainly used for the efficiency of innovation and transformation
projects; and
(5) physical measures (volume, capaCity,
area, and length) of construction, which is typical for non industrial
projects, for instance, the length of new railways or highways, the capaCity of
reservoirs, the floor space of housing projects, capaCity f or new students in
schools or beds in hospitals, areas under new irrigation project, etc. Features
of projects sometimes call for combined use of two or more measurement to
reflect the increased production capaCity (or project efficiency), for
instance, the new capaCity for the production of internal combustion engines
are expressed in set s per year and kilowatts per year simultaneously. To
standardize the nomenclature and unit of measurement for new production
capaCity (or project efficiency), the National Bureau of Statistics has
developed Nomenclature for New Production CapaCity (Project Efficiency) and
Nomenclature for Saving Raw Materials, Fuels and Power. All reporting units
with investment activities are required to follow these two nomenclatures in
reporting statistics on new production capaCity (project efficiency).
Floor
Space of Buildings under Construction and Completed refers to total floor space of the
horizontal section of outer walls above the plinth of the building, including
the effective area and the area occupied by the structure. This indicator is one
of the important indicators in physical terms to reflect the scale and
accomplishment of the construction industry, and important basis for monitoring
the pr ogress, calculating the cost, analyzing the efficiency and studying the
sup ply of building materials in relation with the construction projects.
Floor
Space of Residential Buildings refers to the floor space of the residential buildings among the total
space of buildings under construction or completed.
Floor
Space under Construction refers to total floor space of all buildings under construct ion during the
reference period, including floor space of newly start ed buildings during the
reference period, floor space of construction extended from the previous period
to the current period, and floor space of construction suspended during the
previous period and resumed in the current period. Floor space of const ruction
completed in the current period, and floor space of const ruction started and then
suspended in the current period are also included in the floor space under
const ruction of the current year.
Floor
Space of Buildings Completed
refers to the floor space of all buildings completed in the reference period,
which have been appraised and accepted (or come up to the designed standards)
and have been transferred to the owners for 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 const ruction in
the same period. This indicator reflects the investment result from the
perspective of t he speed of construction.
Newly
Increased Fixed Assets refer
to the newly in-creased value of fixed assets, constructed or purchased, that
have been transfer red to the investors. 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 construct ion 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
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.
Number
of Flats in Completed Residential Buildings refers to total number of flats completed during the
reference period, appraised and accepted as meeting the standards for living, and
transfer red for use. A flat includes separate kitchen and bathroom, several
bedrooms and corridor, suitable for one household. This indicator reflects the
degree of industrialization of the residential building construction, the
process of urbanization and the improvement of the living standard of people.
Villas,
High-Grade Apartments refers
to commercial houses whose const ruction costs and marketing pr ices are
significantly higher than ordinary housing. Villas are independent structures
generally located in the suburbs; high-grade apartments are multi-story
buildings located in elegant urban neighborhoods. Criteria for villas and
high-grade apartments include: 1) projects for the construction of villas or
high-grade apartments have to be approved by competent departments in charge of
real estate development and investment plans, and 2) pr ices f or projects on villas
or high- grade apartments are higher by over 100% com-pared with the aver age
prices of ordinary commercial housing projects in similar location. This
indicator helps to analyze the investment structure of the real estate industry
and the demand and supply of housing for high-income households.
Economically
Affordable Housing refers
to housing constructed according to the state plan for economically affordable housing.
Houses of this category featured in low cost in construct ion and low prices,
and therefore are affordable to mid-income or low-income households.
Economically affordable housing projects are developed by real estate companies
under the state investment plan, with the land provided through government
allocation or tendering procedures. Developers are exempted from land
utilization fees and enjoy another 50% exemption of all other legitimate fees,
while their profits are limited to less than 3%, and the completed houses are
sold under the government guided prices. This indicator helps to analyze the
investment structure of the real estate industry and the demand and supply of
housing for mid or low income households.