Investment in Fixed Assets from January to May 2022

From January to May, the national fixed asset investment (excluding rural households) reached 20,596.4 billion yuan, an increase of 6.2 percent year on year. Among them, the private fixed asset investment was 11,712.8 billion yuan, a year-on-year increase of 4.1 percent. On a month-on-month basis, investment in fixed assets (excluding rural households) increased by 0.72 percent in May.

By industry, the investment in the primary industry was 525 billion yuan, a year-on-year increase of 5.8 percent; the investment in the secondary industry was 6,391.7 billion yuan, an increase of 11.0 percent; and the investment in the tertiary industry was 13,679.6 billion yuan, an increase of 4.1 percent.

In the secondary industry, industrial investment increased by 11.1 percent year-on-year. Among them, investment in mining industry increased by 17.3 percent, investment in manufacturing industry increased by 10.6 percent, and investment in power, heat, gas and water production and supply industry increased by 11.5 percent.

In the tertiary industry, infrastructure investment (excluding power, heat, gas and water production and supply) increased by 6.7 percent year-on-year. Among them, investment in water conservancy management increased by 11.8 percent, investment in public facilities management increased by 7.9 percent, investment in road transport decreased by 0.3 percent, and investment in railway transport decreased by 3.0 percent.

By region, investment in the eastern region increased by 5.0 percent year-on-year, that in the central region increased by 10.9 percent, that in the western region increased by 7.9 percent, and that in the northeast region decreased by 4.4 percent.

According to the types of registration, the investment of domestic enterprises increased by 6.3 percent year-on-year, that of Hong Kong, Macao and Taiwan enterprises increased by 7.8 percent, and that of foreign enterprises decreased by 2.2 percent.

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.

In the total paid in capital of an enterprise, although the proportion of paid in capital (share capital) owned by the investors with state-owned economic components is not more than 50 percent, the proportion of state-owned relative holding shares is relatively greater than that of investors with other economic components; or the proportion of state-owned contractual holding shares is not greater than that of investors with other economic components but has the actual control right of the enterprise according to the 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 basis for classifying the types of enterprise registration is the type of enterprise registration by the administrative department for Industry and commerce. The notice on adjustment of provisions on the classification of enterprise registration type (Guo Tong Zi [2011] No. 86) issued jointly by the National Bureau of Statistics and the State Administration for Industry and Commerce shall be followed. The classification of registration types of individual business is carried out according to the relevant provisions of the National Bureau of Statistics and the notice of the National Bureau of Statistics on Classification and Code of Registration Types of "Individual Business" (Guo Tong Ban Zi [1999] No. 2).

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 since May 2021 has been revised as follows:

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