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 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 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.
Floor
Space of Buildings under Construction 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.
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.