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.
Investment in Construction and Innovation It includes the investment of 500,000 RMB yuan and over of urban in fixed assets, non-rural household and rural household.
Urban Investment refers to urban investment in fixed assets and investment in real estate development.
Urban Investment in Fixed Assets refers to construction projects involving a total planned(or required)investment of 500,000 yuan and over by enterprises of various types of ownership,institutions,administrative units and individuals in urban areas,investment in real estate development,and private investment.
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, office buildings, and the complementary service 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 transactions.
Investment in Rural Areas refers to investment in fixed assets by enterprises, institutions, administrative units and individuals in rural areas, including rural household and non-rural household in rural areas.
Investment of non-rural household in Rural Assets refers to urban investment in fixed assets involving a total planned
(or required) investment of 500,000 yuan and over by enterprises of various types of ownership,institutions,administrative units and individuals in urban areas,investment in real estate development,and private investment.
Newly Increased Fixed Assets refers to the newly increased value of fixed assets, constructed or purchased, that have been transferred to the investor and have been including equipment and instruments.This is an indicator that demnstrates 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.
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.
(I) Construction and installation (work volume of construction): refers to the construction of various houses and buildings and installation of various kinds of equipment and instruments. The value of equipment installed is not included in the value of installation projects.
(II) Purchase of equipment and instruments: refers to the purchase converting products produced by industrial enterprises to the purchase of fixed assets, including the total value of equipment, tools, and vessels purchased or self - produced. Equipment, tools and vessels 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 or not.
(III) Other expenses: refer to expenses occurring during the construction or purchase of fixed assets other than construction, installation or purchase of equipment and instruments, excluding other expenses in financial management.
Sources of Funds for Investment in Fixed Assets
(I) Total of source of funds in this year: refers to the various funds received by investing enterprises in this year for the purpose of construction and purchase of investment in fixed assets. It includes balance of funds brought forward from the previous year, funds appropriated and brought in this year, and funds collected by various ways.
(II) Balance of funds brought forward from the previous year: refers to the surplus funds which didn’t form the investment in fixed assets in the sources of funds in previous year. It includes material values that will be used in the projects, facilities values that must be and will be installed, and surplus cashes and deposits in bank.
(III) Subtotal of source of funds in this year: refers to the monetary funds received by investing enterprises during the reference period for the purpose of investment in fixed assets. It includes funds from state budgetary appropriation, domestic loans, bonds, foreign investment, self-raised funds, and others.
(a) State budgetary appropriation 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 transferred from the central budget.
(b) Domestic loans refer to loans of various forms borrowed by investing units from banks and non-bank financial institutions during the reference period, 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.
(c) Bonds refer to the funds collected by enterprises or financial institutions by bonds issuance for the purpose of investment in fixed assets. It includes emphasis enterprises bonds issued by banks substituting special nation investment enterprises and capital construction bonds.
(d) Foreign Investment refers to foreign funds received during the reference period for investment in fixed assets (covering equipment, materials and technology), including foreign direct investment, foreign borrowings (loans from foreign governments and international financial institutions, export credit, commercial loans from foreign banks, issuance of bonds and stocks overseas), and other foreign investment (covering facilities’ funds provided by foreign investment by compensation trade and processing & assembly, as well as international lease).
(e) Self-raised funds refer to extra-budgetary funds for investment in fixed assets received by investing units from central government ministries, local governments, enterprises and institutions during the reference period.
(f) Others refer to funds for investment in fixed assets received from the sources other than those listed above, including funds raised from social and individuals, through donations, and funds transferred from other units.
Investment in Fixed Assets by Type of Construction
(I) New construction in general: refers to newly constructed enterprises, institutions, administrative agencies or independent projects from scratch. In case the asset of the existing unit is quite small, and the value of newly added fixed assets exceeds the original value of assets by three times, the expansion will be considered as new construction.
(II) Expansion: refers to construction 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, buildings for administrative agencies, etc.) are also classified as expansion.
(III) Reconstruction and Technical Transformation: refer 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 and reduce consumption 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; improvement of working conditions and environment, etc.
Newly Increased Production Capacity (or Project Efficiency) refers to the production capacity put into produce or put into use actually according to calculation conditions and standards of newly increased production capacity (or project efficiency) in the reference period, that is increase of designed capacity (or project efficiency) through investment in fixed assets.
The target of calculation of newly increased production capacity (project efficiency) is project can produce production capacity (or project efficiency) independently, such as a mineral well, a turn kiln, a set of chemical appliance, a special rail line, etc. When the project completes and has been checked, accepted and formally put into production, it can be calculate as newly increased production capacity (or project efficiency).
Newly increased production capacity is calculated according to design capacity (or plan capacity). Design capacity refers to the production capacity of major projects (or major facilities) and subsidiary projects (or subsidiary facilities) which can be come true in normal situation. When there are some changes in construction process of design capacity, the new capacity can be calculated after the approval of management. If it didn’t have the approval, it must be calculated by original design capacity and give a explanation. If it hasn’t design capacity, it can be calculated by the capacity according to checkout and verification.
Newly increased production capacity of projects completed and put into produce, whose facilities are assorted in every part and correspond with conditions of calculation is calculated by total design capacity. If the total facilities aren’t assorted while a part of major and subsidiary facilities and projects complete that can meet the need of production and put into produce, the newly increased production capacity is calculated by capacity of assorted part. When newly increased production capacity is infilled and reported the projects put into produce must have calculation warranty and give an explanation of situation of projects and major parts assorted, major content of projects uncompleted and missing facilities.
Number of Projects under Construction refers to the number of projects having construction in the reference period, including new projects in current year and projects started in the reference period and continued in current year.
Number of Projects Put into Produce refers to the number of projects completed and have been checked, accepted and formally put into use in this year according to total production capacity (or efficiency) prescribed in design document.
Floor Space under Construction in this Year refers to total floor space of all buildings under construction during the reference period, including floor space of newly started 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 construction completed in the current period, and floor space of construction started and then suspended in the current period are also included in the floor space under construction of the current year.
Floor Space of Buildings Completed in this Year 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.
Value of Buildings Completed in this Year refers to the intrinsic construction value of buildings completed in the reference period. It is figured by the rules of buildings design and budget, which not only includes the construction value of foundations, structure, furnishings, subsidiary projects such as water, electricity, toilet, etc. but also includes purchase and installation expenditures of facilities (such as lift, ventilation, etc.) listed into buildings budget as component of building construction. It excludes the purchase and installation of technical facilities, leads and lines in factories, construction of technical facilities’ basis, expenditures of environment projects such as water, eructate, electricity, toilet, road projects, wall fended to earth outside, purchase of furniture in office or house, purchase of lands, as well as expenditures of move compensation and land leveling etc.
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.
Villas, High-Grade Apartments refer to commercial houses whose construction costs and marketing prices 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) prices for projects on villas or high-grade apartments are higher by over 100% compared with the average 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 construction 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.
Floor Space of Commercial Buildings Actually Sold refers to the total contracted floor space of commercial buildings actually sold in reporting period(the floor space provided in the formal contract),which consists of the floor space of the sold completed buildings and the floor space of the sold forward-delivery buildings.
(I) Floor Space of Sold Completed Buildings refers to the floor space of the completed commercial buildings prepared for occupancy with the formally signed sales contract in the reporting period, including the floor space of the completed buildings purchased by one-off payment and by installment.
(II)Floor Space of Sold Forward-Delivery Buildings refers to the floor space of the uncompleted commercial buildings still under construction with the formally signed sales contract in the reporting period, including the floor space of the commercial buildings purchased by one-off payment and by installment. The floor space of sold forward-delivery buildings,afer completion,will not be carried forward into the floor space of sold completed buildings.
Vacant Space refers to the floor space of the completed commercial buildings available for sale or lease but not sold or leased yet in the reporting period, including the vacant floor space of the commercial buildings completed in previous periods and in this period, but excluding the floor space of the building not for sale or lease such sa the buildings of compensation for demolition, the unified constructed or agency constructed buildings, the public auxiliary facilities, the buildings of self-use by real estate companies and the buildings of turnover, that have been completed in the reporting period. By the length of the vacant period, it is categorized as space vacant for less than a year, space vacant for a year to 3 years (including a year) and space vacant for 3 years or longer (including 3 years). Those vacant for less than a year are commercial buildings for sale; those vacant for a year to 3 year (including a year) are slow-moving commercial buildings; and those vacant for 3 years of longer (including 3 year) are overstocked commercial buildings.
Developed Land Area Completed refers to the land area of land development and prophase development projects completed, which can carry out construction or remise.
Purchased Land Area in Current Year refers to the land area accessible by various means in current year.