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.