Explanatory Notes on
Main Statistical Indicators
Industry refers to the material production
sector which is engaged in extraction of natural resources and processing and
reprocessing of minerals and agricultural products, including 1) extraction of
natural resources, such as mining, salt production, logging (but not including
hunting and fishing); 2) processing and reprocessing of farm and sideline
produces, such as rice husking, flour milling, wine making, oil pressing,
cotton ginning, silk reeling, spinning and weaving, and leather making; 3)
manufacture of industrial products, such as steel making, iron smelting,
chemicals manufacturing, petroleum processing, machine building, timber
processing; water and gas production and electricity generation and supply; 4)
repairing of industrial products such as the repairing of machinery and means
of transport (including cars). Prior to 1984, the rural industry run by
villages and cooperative organizations under village was classified into
agriculture. Since 1984, it has been grouped into industry.
Types of
enterprise registration involved in this yearbook are as the following:
(1) State-owned Enterprises: refer to non-corporation economic units
where the entire assets are owned by the state and which have registered in
accordance with the Regulation of the
People’s Republic of China on the Management of Registration of Corporate
Enterprises. Excluded from this category are sole state-funded corporations
in the limited liability corporations.
(2) Collective-owned Enterprises: refer to economic units where the
assets are owned collectively and which have registered in accordance with the Regulation of the People’s Republic of China
on the Management of Registration of Corporate Enterprises.
(3) Cooperative Enterprises: refer to a form of collective economic
units (enterprises) where capitals come mainly from employees as their shares,
with certain proportion of capital from the outside, where production is
organized on the basis of independent operation, independent accounting for
profits and losses, joint work, democratic management, and a distribution
system that integrates remuneration according to work with dividend according
to capital share.
(4) Joint Ownership Enterprises: refer to economic units established by
two or more corporate enterprises or corporate institutions of the same or
different ownership, through joint investment on the basis of equality,
voluntary participation and mutual benefits. They include state joint ownership
enterprises, collective joint ownership enterprises, joint state-collective
enterprises, other joint ownership enterprises.
(5) Limited Liability Corporations: refer to economic units established
with investment from 2-50 investors and registered in accordance with the Regulation of the People’s Republic of China
on the Management of Registration of Corporations, each investor bearing
limited liability to the corporation depending on its share of investment, and
the corporation bearing liability to its debt to the maximum of its total
assets. Limited liability corporations include exclusive state-funded limited liability
corporations and other limited liability corporations.
(6) Share holding Corporations Ltd.: refer to economic units registered
in accordance with the Regulation of the
People’s Republic of
(7) Private Enterprises: refer to profit-making economic units invested
and established by natural persons, or controlled by natural persons using
employed labor. Included in this category are private limited liability
corporations, private share-holding corporations Ltd., private partnership
enterprises and private-funded enterprises registered in accordance with the Corporation Law, Partnership Enterprises Law
and Interim Regulations on Private Enterprise.
(8) Other Domestic-funded Enterprises: refer to domestic-funded economic
units other than those mentioned above.
(9) Joint-venture Enterprises with Funds from Hong Kong, Macao and
Taiwan: refer to enterprises jointly established by invertors from Hong Kong,
Macao and Taiwan with enterprises in the mainland of China in accordance with
the Law of the People’s Republic of China
on Sino-foreign Joint Venture Enterprises and other relevant laws, where
the share of investment, profits and risks is stipulated in the contract.
(10) Cooperative Enterprises with Funds from Hong Kong Macau and Taiwan:
established by investors from Hong Kong, Macau and Taiwan with enterprises in
the mainland of China in accordance with the Law of the People’s Republic of China on Sino-foreign Cooperative
Enterprises and other relevant laws, where the investment or provision of
facilities, and the share of profits and risks is stipulated in the cooperative
contract.
(11) Enterprises with Sole (exclusive) Investment from Hong Kong, Macau
and
(12) Share-holding Corporations Ltd. with Investment from Hong Kong,
Macau and Taiwan: refer to share-holding corporations Ltd. established with the
approval from the former Ministry of Foreign Trade and Economic Relations in
line with relevant state regulations, where the share of investment from Hong
Kong, Macau or Taiwan businessmen exceeds 25% of the total registered capital
of the corporation. In case the share of investment from Hong Kong, Macau or
(13) Joint-venture Enterprises with Foreign Investment: refer to
enterprises jointly established by foreign enterprises or foreigners with
enterprises in the mainland of
(14) Cooperation Enterprises with Foreign Investment: refer to
enterprises jointly established by foreign enterprises or foreigners with
enterprises in the mainland of China in accordance with the Law of the People’s Republic of China on
Sino-foreign Cooperative Enterprises and other relevant laws, where the
investment or provision of facilities, and the share of profits and risks is
stipulated in the cooperative contract.
(15) Enterprises with Sole (exclusive) Foreign Investment: refer to
enterprises established in the mainland of
(16) Share-holding
Corporations Ltd. with Foreign Investment: refer to share-holding corporations
Ltd. established with the approval from the Ministry of Foreign Trade and
Economic Relations in line with relevant state regulations, where the share of
investment from foreign investors exceeds 25% of the total registered capital
of the corporation. In case the share of foreign investment is less than 25% of
the total registered capital, the enterprise is to be classified as
domestic-funded share-holding corporation Ltd.
State-holding Enterprises refer to a classification of
enterprises of mixed ownership. It means the state-owned asset of total assets
is more than that of other owners. The classification shows the status of share
held by state-owned economy.
Light Industry refers to the industry, which
produces consumer goods and hand tools.
Heavy Industry refers to the industry which
produces capital goods, and provides various sectors of the national economy
with necessary material and technical basis.
According to the above
principle of classification, the repairing trades which are engaged primarily
in repairing products of heavy industry are classified into heavy industry
while these engaged in repairing products of light industry are classified into
light industry.
Gross Industrial Output Value is the total volume of industrial
final products and industrial services in value terms within a certain time.
Value Added of Industry refers to the final results of
industrial trade in money terms during the reference period. The value added is
the balance that the total results of industrial production deduct the used or
transferred products and their value. It is the newly increased value.
Capital Obtained refers to capital actually
received by the enterprise from investors. It can be further classified by
investors as state capital, capital from
Total Assets refer to all assets which are
owned or controlled by enterprises, including circulating assets, long-term
investment, fixed assets, intangible assets and deferred assets, other
long-term assets, and deferred taxes, etc. The summation of above items is
equal to total assets shown in the balance sheets of the enterprises.
(I) Circulating assets
(working capital) refer to assets which can be cashed in or spent or consumed
in an operating cycle of one year or over one year, including cash, all kinds
of deposits, short term investment, receivables, advance payment, stock, etc.
(II) Fixed assets refer to the assets with high unit value can keep its
original body in use and last for a long period.
(III) Intangible assets
refer to the assets without material form used by enterprises over a long time,
such as patents, non-patent technologies, trade marks, copyright, land use
right, business reputation, etc.
Total Liabilities refer to the debts that enterprises
are responsible for repayment, including liquid liabilities and long-term
liabilities. Total liabilities correspond to the summation item of liabilities
shown in the balance sheets of the enterprises.
(I) Liquid liabilities (also called quick liabilities or immediate
liabilities) refer to enterprises total debt payable within an operating cycle
of one year or over one year, including short term loans, payables and advance
payments, wages payable, taxes payable and profit payable, etc.
(II) Long-term liabilities refers to total debt payable within an
operating cycle of one year or over one year, including long-term loans,
payable liabilities, long-term payables, etc.
Creditors' Equity refers to investors' ownership of
net assets of the enterprise. It is equal to the total assets of the enterprise
minus its total liabilities, including the primary input from investors,
capital accumulation fund, surplus accumulation fund and undistributed profit.
Original Value of Fixed
Assets refers to the
original value of all fixed assets owned by industrial enterprises, calculated
at the cost paid at the time of purchase, installation, reconstruction,
expansion, and technical innovation and transformation of the said assets,
which includes expenses on purchase, package, transportation, and installation,
etc.
Net Value of Fixed Assets is obtained by deducting
depreciation over years from the original value of fixed assets.
Major Business Revenue refers to the revenue from the sales of
products by industrial enterprises and the revenue from services provided and
etc.
Major Business Cost refers to the actual cost of
products of industrial enterprises and industrial services provided, etc.
Tax and Extra Charges on
Major Business refer to
the tax on city maintenance and construction, consumption tax, resources tax
and extra charges for education, which should be borne by the enterprises in
selling products and providing industrial services.
Major Business Profit refers to the profit gained by the
enterprises by deducting cost, charges and taxes from the business income of
the enterprises obtained in selling products and providing industrial services.
Total Profits refer to the final results gained
by the enterprises. It is got as using the total revenue taking off related
costs and fees. Only if the revenue is more than the costs, the enterprises
gain the profits.
Value Added Tax Payable refers to the amount of the
value-added tax, which should be paid by the enterprises in the reporting
period.
Total Value of Profit and Tax (Pre-tax Profits) refers to the sum of the
total profits, products sales tax and surcharges and the value added tax
payable of industrial enterprises. It is also called Pre-tax profits.
Value Added Rate of Industry refers to the ratio of value added
of industry in a given period to the gross output value in the same period,
which reflects the economic efficiency of cutting down the intermediate input and
is calculated as follows:
Value Added Rate of Industry (%) =Value Added of Industry (at Current
Prices)/Gross Output Value (at Current Prices) ×100%
Ratio of Total Assets to
Industrial Output Value reflects the
profit-making capability of all assets of the enterprise and is a key indicator
manifesting the performance and management and evaluating the profit-making
potential of the enterprise. It is calculated as follows:
Ratio of Total Assets to
Industrial Output (%) = [(Total profits + Total taxes + Interest payment) /
average assets] × 100%
Ratio of Liabilities to
Assets reflect both the
operation risk and the capability of the enterprise in making use of the
capital from the creditors. It is calculated as follows:
Ratio of liabilities to assets (%) = Total
liabilities/total assets×100%
Turnover Ratio of
Circulating Funds refers
to times of turnover of circulating funds in a given period of time, which
reflects the speed of the turnover of working capital and is calculated as
follows:
Turnover Ratio of Circulating Funds (%) = Sales Revenue of
Products/Average Balance of Total Circulating Funds×100%
Ratio of
Profits to Costs refers
to the ratio of profits realized in a given period to the total costs in the
same period, which reflects the economic efficiency of input cost and is
calculated as follows:
Ratio of Profits to Cost (%) =Total Profits/Total Costs×100%
Overall Labor Productivity refers to the average output per
employed person in industrial enterprises in value terms. At present, the value
added and the average number of staff and workers of an industrial enterprises
in a given period are used to calculate the overall labor productivity. The
formula used is:
Overall Labor Productivity = (Value Added of Industry) / (Average
Number of Staff and Workers)
Ratio of Sales to Products refers to the ratio of total sales
in a given period to the gross output value in the same period, which reflects
the extent of industrial output sold and is calculated as follows:
Ratio of Sales to Products (%) =Total Sales (at Current Prices) / Gross
Output Value (at Current Prices) ×100%
Ratio
of
Profits to Sales
refers to the ratio of total profits to the sales revenue in a given
period and is calculated as follows: Ratio
of Profits to Sales (%) =Total Profits /Sales Revenue×100%
Ratio
of
Accumulated Capital to Original Capital refers to the ratio of the
increased volume of creditors’ equity to the creditors’ equity at the year’s
beginning. The formula used is:
Ratio of Accumulated Capital
to Original Capital (%) = Increased Volume of Creditors’ Equity / Creditors’
Equity at Year’s Beginning×100%
Circulating
Rate refers to the rate of
the circulating funds to the circulating liabilities. It shows the enterprise’s
guaranteed solvency that the cash changed from circulating funds in a short
time to pay for circulating liabilities. The formula is: Circulating Rate = Circulating Funds / Circulating Liabilities
Speed
Rate refers to the rate of
the speed funds to the circulating liabilities. The formula is:
Speed Rate = Speed Funds /
Circulating Liabilities
Ratio
of Equity to Production
refers to the ratio of total liabilities to creditors’ equity. It is the
sign of financial stability of the enterprises, and also called ratio of total
liabilities to total capital. The formula is:
Ratio of Equity to Production
= Total Liabilities / Creditors’ Equity