MIL-OSI China: Investment in Fixed Assets from January to September 2021

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Source: National Bureau of Statistics of China

From January to September, the national fixed asset investment (excluding rural households) was 39,782.7 billion yuan, a year-on-year increase of 7.3 percent; it was 7.7 percent higher than that from January to September 2019, with an average growth of 3.8 percent in the two years. Among them, the private fixed asset investment was 22,747.3 billion yuan, a year-on-year increase of 9.8 percent. On a month-on-month basis, investment in fixed assets (excluding rural households) increased by 0.17 percent in September.

 

 

By industry, the investment in the primary industry was 1,039.5 billion yuan, a year-on-year increase of 14.0 percent; the investment in the secondary industry was 11,907.1 billion yuan, an increase of 12.2 percent; the investment in the tertiary industry was 26,836 billion yuan, an increase of 5.0 percent.

 

In the secondary industry, industrial investment increased by 12.2 percent year-on-year. Among them, investment in mining industry increased by 6.2 percent, investment in manufacturing industry increased by 14.8 percent, and investment in power, heat, gas and water production and supply industry increased by 1.6 percent.

 

In the tertiary industry, infrastructure investment (excluding power, heat, gas and water production and supply) increased by 1.5 percent year-on-year. Among them, the investment in water conservancy management increased by 5.4 percent, the investment in public facilities management remained unchanged from the previous year, the investment in road transportation increased by 0.4 percent, and the investment in railway transportation decreased by 4.2 percent.

 

In terms of regions, the investment in the eastern region increased by 7.8 percent, the investment in the central region increased by 13.3 percent, the investment in the western region increased by 5.5 percent, and the investment in the northeast region increased by 8.2 percent.

 

According to the types of registration, the investment of domestic enterprises increased by 7.1 percent, that of Hong Kong, Macao and Taiwan enterprises increased by 14.6 percent and that of foreign enterprises increased by 6.6 percent.

 

Investment in Fixed Assets from January to September 2021

 

Indicators

Jan-Sep

 

Increase rate Y/Y

(%)

 

   

 

Investment in Fixed Assets (Exclude Rural Households) (100 million yuan)

7.3

 

 Of which: State-owned and State Holding

5.0

 

Of which: Private Investment

9.8

 

Grouped by Constitution

 

 

Construction and Installation

11.5

 

Purchase of Equipment and Instruments

-3.8

 

Other Expenses

1.9

 

Grouped by Types of Industry

 

 

 Primary Industry

14.0

 

 Secondary Industry

12.2

 

 Tertiary Industry

5.0

 

Grouped by Industrial Sectors

 

 

 Agriculture, Forestry, Animal Husbandry and Fishery

12.9

 

 Mining

6.2

 

 Manufacturing

14.8

 

Of which: Processing of Food from Agricultural Products

20.6

 

Manufacture of Foods

9.4

 

Manufacture of Textile

13.5

 

Manufacture of Chemical Raw Material and Chemical Products

19.3

 

Manufacture of Medicines

14.4

 

       Smelting and Pressing of Non-Ferrous Metal

10.8

 

Manufacture of Fabricated Metal Products

13.4

 

       Manufacture of General Purpose Machinery

9.3

 

       Manufacture of Special Purpose Machinery

25.2

 

       Manufacture of Automobile

-6.5

 

       Manufacture of Railways, Shipbuilding, Aerospace and Other Transportation Equipment

26.7

 

Manufacture of Electrical Machinery & Equipment

22.0

 

Manufacture of Telecommunications Equipment, Computers and Other Electronic Equipment

24.4

 

 Production and Supply of Electricity ,Gas and Water

1.6

 

 Transport, Storage and Post

2.4

 

  Of which: Railway Transportation

-4.2

 

Road Transportation

0.4

 

 Management of Water Conservancy, Environment and Public Facilities

0.8

 

  Of which: Management on Water Resource

5.4

 

Management on Public Facilities

0.0

 

 Education

10.4

 

 Health, Social Works

24.5

 

 Culture, Sports and Entertainment

3.5

 

Grouped by Registration Type

 

 

 Domestic Funded

7.1

 

 Funds from Hong Kong, Macao and Taiwan

14.6

 

 Foreign Investment

6.6

 

   

 

Note: The growth rate in this table are all nominal growth rate without deducting the price factor.

 

     

Annotations:

 

1. Explanatory Notes on Indicators

 

Investment in fixed assets (excluding rural households): refers to the total workload on construction and purchase for fixed assets during a certain period in the form of currency, as well as the concerning expenses.

 

Stat-holding Enterprises: including absolutely state-holding enterprises, relatively state-holding enterprises and consultatively state-holding enterprises. Absolutely state-holding enterprises refer to those enterprises that the proportion of state investment capital to the total actual capital (or capital stock) is larger than 50 percent.

 

Relatively state-holding enterprises refer to those enterprises that the proportion of state investment capital to the total actual capital (or capital stock) is less than 50 percent, but larger than any other single shareholders. Consultatively state-holding enterprises refer to those enterprises that the proportion of state investment capital to the total actual capital (or capital stock) is less than other shareholders, but owning the real control power regulated by agreement.

 

The enterprises which the proportion of investment capital of the two investors is 50 percent, and the shareholding control power is not clearly stated by either side, if one of them is state-owned, are all classified as the state-holding enterprises without exception.

 

The investment projects invested by the administrative and institutional units are all classified as state-holding.

 

Types of Registration: the types of registration on the enterprises are based on the Provisions for the Classification of Types of Enterprise Registration jointly issued by NBS and State Administration of Industry and Commerce. And that on the individual operation is based on Note on the Code & Classification of Types of Individual Operation Registration.

 

According to the provision of statistical reporting system, all grassroots units shall fill in registration types. The registration types shall be filled in by the enterprises or individual operation units engaged in investment in fixed assets. Those who have already registered in the industrial and commercial administrative units, shall fill in based on the registration types, if unregistered, shall be filled in based on the registration types of investors or that on the provisions of related papers.

 

Domestic enterprise includes state-owned enterprise, collective enterprise, joint enterprise, limited liability enterprise, share-holding enterprise, private enterprise and others.

 

Enterprises with funds from Hong Kong, Macao and Taiwan includes joint-venture and cooperation by Hong Kong, Macao and Taiwan, Hong Kong, Macao and Taiwan Sole Investment, Hong Kong, Macao and Taiwan Funded Share-holding Corporations Ltd., and other investment enterprises by Hong Kong, Macao and Taiwan.

 

Foreign investment enterprise includes joint-venture and cooperation enterprises, foreign funded enterprise, foreign funded share-holding corporations Ltd., and other foreign investment enterprises.

 

2. Statistical Coverage

 

Refers to construction projects on fixed assets and real estate involving a total planned investment of 5 million yuan and over.

 

3. Data Collection

 

The report of investment on fixed assets is collected monthly with complete enumeration (no report in January).

 

4. Classification on East, Central and West Region

 

Eastern region: including Beijing, Tianjin, Hebei, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Guangdong and Hainan. Central region: including Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan. Western region: including Inner Mongolia, Guangxi, Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Qinghai, Ningxia and Xinjiang. Northeastern region:  including Liaoning, Jilin and Heilongjiang.

 

5. Standard Industrial Classification

 

NBS performed the industrial classification for national economic activities (GB/T 4754-2017). 

 

6. Revision on Month-on-Month Data

 

According to the auto-revision function of the seasonal adjustment model, the month-on-month growth rate of investment on fixed assets from September 2020 has been revised as follows:

 

The Month-on-Month Growth Rate of Investment on Fixed Assets

(Excluding Rural Households)

 

Growth Rate (%)

   

2020-September

0.11

October

0.19

November

0.18

December

0.19

2021-January

0.00

February

0.07

March

0.05

April

0.11

May

0.14

June

0.14

July

0.08

August

0.18

September

0.17

   

 

7.Explanation of Year-on-Year Growth

 

According to the results of statistical law enforcement inspection and the fourth national economic census unit inventory, the fixed assets investment base in the previous year was revised, and the growth rate was calculated on comparable basis.

 

 8. Description of Average Growth Rate in Two Years

 

The two-year average growth rate refers to the growth rate calculated by geometric average method based on the corresponding number of the same period in 2019.

 

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