China - Nominal Fixed Investment (gross fixed capital formation)

For China, investment in fixed assets (capital expenditure), mostly construction; level and percent growth; by industry, ownership, structure; by province; area of housing. Monthly from 1998.

• Measurements:
  • 100 million Chinese yuan (100 Mil. CNY)
  • Year-over-year percent change (% Y/Y)
• Cumulation: Year to date (YTD)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start date: As early as 1998m2
• Geo coverage:
  • Country
  • Province (ICHN_^^)
• All concept-geo pairs exist: No

The Fixed Asset Investment is compiled by the National Bureau of Statistics (NBS). Investment in fixed assets is the essential means for social reproduction of fixed assets. By means of construction and purchase of fixed assets, more advanced technologies and equipment are adopted in the national economy.

Amount of investment in fixed assets refers to the volume of activities in construction and purchases of fixed assets in monetary terms. The unit value of fixed asset investment is measured in 100 million Yuan.

According to China’s current management system, the investment in fixed assets in the whole country is classified into the following four parts: investment in capital construction, investment in innovation, investment in real estate development and other investment in fixed assets.

The observation for total value of fixed asset starts on July 1999, by industrial classification is on February 2004 and by region is February 2002.

The monthly fixed asset investment value is disseminated with brief technical commentary in the NBS news release each month. The data posted on the NBS website are accordingly up dated.

Private investment in fixed assets is a part of investment in fixed assets, and the reports of private investment on fixed assets are collected monthly with complete enumeration (no report in January), which is the same as the report of investment on fixed assets.

The statistical coverage of private investment in fixed assets is determined according to the types of industrial and commercial registration of the fixed assets investment projects units, which includes:

• The investment in fixed assets of collective enterprises, joint-stock cooperative enterprises, private enterprises, private partnerships, private limited liability companies, self-employed businessmen, individual partnerships and other pure non-governmental entities with industrial and commercial registration;
• All the investment in fixed assets of the main investment units, which are controlled by collective enterprises, private enterprises and individuals in the mixed economic components with industrial and commercial registration.

Moody's Analytics supplements

For the concept "level of investment in urban housing" we compute non-YTD NSA and SA counterparts. These run 1994m2 to 2018m4.

The historical data is not available in the data releases, so there are no revisions.

Jan-Feb release

The source combines January and February data to minimise seasonal effects of Lunar New Year. We follow the same and not publish the monthly figures for January and February. Cumulated data will not be affected by this.

Further reading

At the source:

• Definitions
• Industrial classification GB/T 4754-2011

• Apr 2006 - Initial version.
• Aug 2016 - Add by province.
• Jun 2018 - Add supplement non-YTD.
• Aug 2018 - Most series terminated by source.
• 7 Sep 2023, Phillip Thorne - Add private investment: Properties, Moody's Analytics supplements.