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).
State-owned
enterprises refers
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, including the state-owned
enterprise, sole state-funded corporation and state-owned joint ownership
enterprise. Joint state-private industries and private industries, which
existed before 1957, have been transformed into state-run industries. Since
1992, those were named state-owned industries. Statistics on these enterprises
has been included in the state-industries since 1957 when separation of data
was no longer necessary.
Collective-owned
Industry
refers to industrial enterprises where the means of production are owned
collectively, including urban and rural enterprises invested by collectives and
some enterprises which were formerly owned privately but have been registered
in industrial and commercial administration agency as collective units through
raising fund from the public.
Share-holding
Corporations Ltd.
refer to economic units registered in accordance with the Regulation of the People’s Republic of China on the
Management of Registration of Corporate Enterprises, with total registered
capitals divided into equal shares and raised through issuing stocks. Each
investor hears limited liability to the corporation depending on the holding of
shares, and the corporation bears liability to its debt to the maximum of its
total assets.
Enterprises
with Funds form Hong Kong, Macao and Taiwan refers
to all industrial enterprises registered as the joint venture, cooperative,
sole (exclusive) investment industrial enterprises and limited liability
corporations with funds from Hong Kong, Macao and Taiwan.
Foreign Funded Enterprises
refers to all industrial enterprises registered as the joint venture,
cooperative, sole (exclusive) investment industrial enterprises and limited
liability corporations with foreign funds.
Light Industry refers to the industry that produces
consumer goods and hand tools. It consists of two categories, depending on the
materials used:
(1)
Industries using farm products as raw materials. These are branches of light
industry which directly or indirectly use farm products as basic raw materials,
including the manufacture of food and beverages, tobacco processing, textile,
clothing, fur and leather manufacturing, paper making, printing, etc.
(2)
Industries using non farm products as raw materials. These are branches of
light industry which use manufactured goods as raw materials, including the
manufacture of cultural, educational articles and sports goods, chemicals,
synthetic fiber, chemical products for daily use, glass products for daily use,
metal products for daily use, hand tools, medical apparatus and instruments,
and the manufacture of cultural and clerical machinery.
Heavy Industry refers to the
industry, which produces capital goods, and provides various sectors of the
national economy with necessary material and technical basis. It consists of
the following three branches according to the purpose of production or the use
of products:
(1)Mining,
quarrying and logging industry refers to the industry that extracts natural
resources, including extraction of petroleum, coal, metal and non-metal ores
and logging.
(2)
Raw materials industry refers to the industry that provides various sectors of
the national economy with raw materials, fuels and power. It includes smelting
and processing of metals, coking and coke chemistry, chemical materials and
building materials such as cement, plywood, and power, petroleum refining and
coal dressing.
(3)
Manufacturing industry refers to the industry that processes raw materials. It
includes machine-building industry, which equips sectors of the national
economy, industries of metal structure and cement products, industries
producing means of agricultural production, such as chemical fertilizers and
pesticides.
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 final industrial products produced and industrial services provided
during a given period. It reflects the total achievements and overall scale of
industrial production during a given period.
Principles
for calculation: Statistics on industrial production follow the principle that all
products produced by the enterprises and accepted during the reference period
are to be included no matter whether they are sold or not during the reference
period. Determination of final products follow the principle that all products
that are included in the calculation of grow industrial output value are the
final products of the enterprise which have been accepted through quality check
and require no further processing. If an enterprise has intermediate
(semi-finished) products to sell, these intermediate products are considered as
the final products of the enterprise.
Gross
industrial output value is calculated following the principle of factory
approach, i.e. industrial enterprise is used as the basic accounting unit in
calculating the gross industrial output value. By this approach, value of the
same product is not to be double counted, and the output value of different
workshops (branch factories) should not be added. However, this approach does
not exclude the possibility of double counting between enterprises.
Content
and calculation method: The old definition of gross industrial output value was
modified during the national industrial census in 1995. The revised (new)
definition of gross industrial output value consists of 3 components: value of
the finished products during the reference period, income from external processing,
and value of change in semi-finished products at the end and at the beginning
of the reference period.
Value-added of
Industry refers
to the final results of industrial production of industrial enterprises in
money terms during the reference period.
Industrial value-added can be calculated by two approaches: the
production approach, i.e. gross industrial output value minus intermediate
input plus value-added tax, and the income approach, i.e. income for various
factors used in the course of production, including depreciation of fixed
assets, remuneration of labourers, net of production tax, and operating
surplus. Value-added of industry in the Yearbook is calculated by production
approach as following:
Value-added
of industry = gross industrial output – industrial intermediate input +
value-added tax
Capitals
Obtained refers to capital actually received by the enterprise from
investors that could be used as operational capitals for a long period.
According to the current accounting system, capitals obtained can be classified
by investors as state capital, collective capital, corporate capital,
individual capital, capital from Hong Kong, Macao and Taiwan and foreign
capital.
Total
Assets refer to all economic resources, in monetary terms, which
is owned or controlled by enterprises, including properties, creditors equity
and other economic rights of all forms. Classified by the degree of
equitability, total assets include circulating assets, long-term investment,
fixed assets, intangible assets and deferred assets, and other assets.
Total
of Working Capitals refer to capitals 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, receivable and
payable payment for goods or deposits.
Original Value of Fixed Assets refers to the value of payment by the
enterprise in building, purchasing installing reconstructing, expending or
transforming a particular item of fixed assets. In general, it includes value
of purchase, cost for packaging, transportation, installation, etc.
Net Value of
Fixed Assets is obtained
by deducting depreciation over years from the original value of fixed assets.
Total Liquid Liabilities refer to
enterprises' total debt payable within an operating cycle of one year or over
one year, including short-term loans, notes and accounts payable, advance payments
received, wages and welfare funds payable, taxes and profit payable, other
payables, fees received by advance payment, etc. Liquid liabilities feature in
the short term of payment , immediate payment at the request of creditors, or
pay able within one y ear.
Total Long-term Liabilities refers to the
debt payable within an operating cycle of one year or over one year. It is the capital
that enterprises raised from creditors for the long-term use of enterprises in
addition to capitals put into the enterprise by investors, and constitutes the
economic liabilities that enterprises have to repay by assets or labour
services, including long-term loans, payable liabilities, long-term payable,
other long-term liabilities, etc. Compared with the liquid liabilities, the
long-term liabilities feature in large volume, longer term for repayment, and
larger benefits for investors.
Creditors' Equity refers to investor ownership of
net assets of the enterprise, which is equal to the total assets of the enterprise
minus its total liabilities, including the primary input actually received at
the enterprise from investors, capital accumulation fund, surplus accumulation
fund and undistributed profit.
Sales Revenue of Industrial Products refers to the
revenue from the sales of finished and semi-finished products and from
rendering of industrial services by industrial enterprises during the reference
period.
Cost of Industrial Products Sold refers to the
actual cost of finished and semi-finished products sold and industrial services
rendered by industrial enterprises during the reference period.
Tax and Extra Charges on Sales of Products 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 during the reference period.
Profit from Sales of Products 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 achievements of production and operation of the
enterprises, represented by the total profits after deducting losses (loss is
expressed by the negative figure). It is the sum of profits from operation,
income from subsidies, investment earnings, net income from activities other
than operation, and adjustment of profits and losses of previous years.
Ratio
of Profits, Taxes and Interests to Average Assets 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 profits, taxes and interests to average as sets (%)
=[(total profits + total taxes + interest payment) / average assets ]
× 100%
In the above formula, total taxes is the sum of tax and extra charges
on the sales of products and value-added tax payable.
Ratio of Debts 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 debts to assets (%) = (total debts / total assets)×100%
Ratio of Profits to Total Industrial 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 total industrial cost (%)=(total profits/total
cost s)× 100%
Turnover of Working Capital refers to the
number of times of turnover of working capital in a given period of time, which
reflects the speed of the turnover of working capital of industrial
enterprises, and is calculated as follows:
Turnover of working capital=(sales revenue of products)/(average
balance of total working capital)
Ratio of Sales to Gross Output Value reflects the
degree at which industrial products are sold. It helps to analyze the linkage
between production and sales and the extent of the needs of the society that
has been met by the supply of industrial products. It is calculated as follows:
Ratio of Sales to Gross Output Value=[Industrial sales /Gross
industrial output value (at current prices)]× 100%
Overall Labour Productivity of Industrial Enterprises reflects
efficiency of production and economic results of labour input of enterprises.
The formula used is:
Overall labour productivity=(value added of industry) / (average number
of staff and workers)