主要统计指标解释

固定资产投资  是以货币形式表现的在一定时期内全社会建造和购置固定资产的工作量以及与此有关的费用的总称。该指标是反映固定资产投资规模、结构和发展速度的综合性指标,又是观察工程进度和考核投资效果的重要依据。按登记注册类型可分为国有、集体、个体、联营、股份制、外商、港澳台商、其他等。统计内容是指各种登记注册类型的法人单位及个体经营进行的计划总投资500万元及以上项目投资和全部房地产开发投资情况。不包括农户投资。

房地产开发投资  指各种登记注册类型的房地产开发法人单位统一开发的住宅、厂房、仓库、饭店、宾馆、度假村、写字楼、办公楼等房屋建筑物和配套的服务设施，土地开发工程（如道路、给水、排水、供电、供热、通讯、平整场地等基础设施工程）和土地购置的投资；不包括单纯的土地开发和交易活动。

建设总规模　是指在报告期内所有施工项目的计划总投资。这个指标和施工项目相对应。

在建总规模　是指在报告期末所有在建项目的计划总投资。

在建净规模　是指报告期末所有在建项目建成投产尚需的投资总量。

在建净规模＝在建总规模－未投产项目（期末在建）累计完成投资。

固定资产投资的资金来源  根据固定资产投资的资金来源不同，分为国家预算资金、国内贷款、债券、利用外资、自筹资金和其他资金。

(1) 国家预算资金：指各级政府用于固定资产投资的财政资金，包括中央预算资金和地方预算资金。

国家预算包括一般预算、政府性基金预算、国有资本经营预算和社保基金预算。各类预算中用于固定资产投资的资金全部作为国家预算资金填报，其中一般预算中用于固定资产投资的部分包括基建投资、车购税、灾后恢复重建基金和其他财政投资。各级政府债券也应归入国家预算资金。

(2)国内贷款：指报告期固定资产投资项目单位向银行及非银行金融机构借入用于固定资产投资的各种国内借款，包括银行利用自有资金及吸收存款发放的贷款、上级主管部门拨入的国内贷款、国家专项贷款（包括煤代油贷款、劳改煤矿专项贷款等），地方财政专项资金安排的贷款、国内储备贷款、周转贷款等。

(3)债券：指企业或金融机构为筹集用于固定资产投资的资金向投资者出具的承诺按一定发行条件还本付息的债务凭证，包括金融债券和企业债券。金融债券是由银行和非银行金融机构发行的债券。在我国目前金融债券主要分两类，一是由国家开发银行、进出口银行等政策性银行发行的政策性金融债券，二是由商业银行、证券公司、财务公司等商业性金融机构发行的商业金融债券。企业债券是工商企业依照法定程序发行的债券。公司债券的发行主体可以是股份公司也可以是非股份公司，可以是上市公司也可以是非上市公司，包括依据《企业债券管理条例》发行的企业债券、依据《公司法》发行的上市公司债券、依据中国人民银行规章发行的中期票据等。

(4)利用外资：指报告期收到的境外（包括外国及港澳台地区）资金(包括设备、材料、技术在内)。包括对外借款(外国政府贷款、国际金融组织贷款、出口信贷、外国银行商业贷款、对外发行债券和股票)、外商直接投资、外商其他投资(包括补偿贸易、加工装配由外商提供的设备价款、国际租赁，外商投资收益的再投资资金)。不包括我国自有外汇资金(国家外汇、地方外汇、留成外汇、调济外汇和中国境内银行自有资金发放的外汇贷款等)。各类外资按报告期的外汇牌价（中间价）折成人民币计算。

(5)自筹资金：指在报告期内筹集的用于项目建设和购置的资金。包括自有资金、股东投入资金和借入资金，但不包括各类财政性资金、从各类金融机构借入资金和国外资金。

(6)其他资金来源：指在报告期收到的除以上各种资金之外的用于固定资产投资的资金。包括社会集资、个人资金、无偿捐赠的资金及其他单位拨入的资金等。

固定资产投资按国民经济行业分  根据建设项目建成投产后的主要产品种类或主要用途及社会经济活动性质种类来确定国民经济行业。一般情况下，一个建设项目只能属于一种国民经济行业。

固定资产投资按隶属关系分  根据本单位隶属于哪一级行政管理单位可分为：中央、地方和其他。中央与地方双重领导的单位，以领导为主的一方来划分中央属或地方属。

固定资产投资按建设性质分  指固定资产再生产的性质，按整个建设项目的具体情况确定。一个建设项目只能有一种建设性质。

(1)新建：指从无到有“平地起家”开始建设的项目。现有企业、事业、行政单位投资的项目一般不属于新建。但如有的单位原有基础很小，经过建设后新增的固定资产价值超过该企业、事业、行政单位原有固定资产价值（原值）三倍以上的，也应作为新建。

(2)扩建：指为扩大原有产品的生产能力（或效益）或增加新的产品生产能力，而增建的生产车间（或主要工程）、分厂、独立的生产线等项目。行政、事业单位在原单位增建业务性用房（如学校增建教学用房、医院增建门诊部、病房等）也作为扩建。

现有调查单位为扩大原有主要产品生产能力或增加新的产品生产能力，增建一个或几个主要生产车间（或主要工程）、分厂，同时进行一些更新改造工程的，也应作为扩建。

(3)改建和技术改造：指对原有设施进行技术改造或更新（包括相应配套的辅助性生产、生活福利设施）的建设项目。改建项目包括调查单位为适应市场变化的需要，而改变的主要产品种类（如军工企业转民用产品等）的建设项目；原有产品生产作业线由于各工序（车间）之间能力不平衡，为填平补齐充分发挥原有生产能力而增建但不增加主要产品生产能力的建设项目。技术改造是指调查单位在现有基础上用先进的技术代替落后的技术，用先进的工艺和装备代替落后的工艺和装备，以改变企业落后的技术经济面貌，实现以内涵为主的扩大再生产，达到提高产品质量、促进产品更新换代、节约能源、降低消耗、扩大生产规模、全面提高社会经效益的目的。

技术改造具体包括以下内容：机器设备和工具的更新改造；生产工艺改革、节约能源和原材料的改造；厂房建筑和公共设施的改造；保护环境进行的“三废”治理改造；劳动条件和生产环境的改造等。

(4)单纯建造生活设施：指在不扩建、改建生产性工程和业务用房的情况下，单纯建造职工住宅、托儿所、子弟学校、医务室、浴室、食堂等生活设施的项目。

(5)迁建：指为改变生产能力布局或由于城市环境保护和安全生产的需要等原因而搬迁到另地建设的项目。在搬迁另地的建设过程中，不论是维持原来规模还是扩大规模都按迁建来统计。

(6)恢复：指因自然灾害、战争等原因，使原有固定资产全部或部分报废，以后又投资恢复建设的项目。不论是按原规模恢复还是在恢复的同时进行扩建的都按恢复项目统计。尚未建成投产的建设项目因自然灾害而损坏重建的，仍按原有建设性质划分。

(7)单纯购置：指单纯购置不需要安装的设备、工具、器具而不进行工程建设的项目。有些调查单位当年虽然只从事一些购置活动，但其设计中规定有建筑安装活动，应根据设计文件的内容来确定建设性质，不得作为单纯购置统计。

固定资产投资按构成分  固定资产投资活动按其工作内容和实现方式分为建筑工程、安装工程，设备工器具购置、其他费用四个部分。

(1)建筑工程：指各种房屋、建筑物的建造工程，又称建筑工作量。这部分投资额必须兴工动料，通过施工活动才能实现，是固定资产投资额的重要组成部分。

(2)安装工程：指各种设备、装置的安装工程，又称安装工作量。

(3)设备工器具购置：指报告期内购置或自制的，达到固定资产标准的设备、工具、器具的价值。

(4)其他费用：指在固定资产建造和购置过程中发生的，除建筑安装工程和设备、工器具购置投资完成额以外的应当分摊计入固定资产投资项目的费用，不指经营中财务上的其他费用。用于项目建设的贷款的利息支出，在项目建设期应纳入固定资产投资统计，项目建成投产后不应纳入固定资产投资统计。

在建项目  指项目本年正式进行过建筑或安装施工活动，但在报告期末尚未建成投产,处于建设阶段。包括本期施工项目，也包括以前年度施过工结转到本期尚未开工的建设项目。

全部投产  指项目按计划规定的生产能力(或效益)在报告期内全部建成，经验收合格或达到竣工验收标准。

新增生产能力(或工程效益)名称  指建成投产项目或工程新增生产能力(或工程效益)的名称。基层单位要将建成投产项目或工程的全部生产能力（或工程效益），按《新增生产能力(或工程效益)目录及代码》规定的名称及代码填写。

建设规模  指建设项目或工程设计文件中规定的全部设计能力(或工程效益)。包括已经建成投产和尚未建成投产的工程的生产能力(或工程效益)。它是以实物形态表示固定资产投资规模的指标，反映建设项目或工程全部建成投产（或交付使用）后，能够为社会提供多少设计能力（或工程效益）。

房屋建筑面积及价值以房屋单位工程（栋）为核算对象，不是按各栋施工房屋中部分或层次分割计算。各种房屋如厂房、仓库、办公室、住宅、商店、学校、医院、俱乐部、食堂、招待所等都应计算房屋建筑面积，但购买钢结构组装的房屋不应计算房屋施工面积。

房屋施工面积  指报告期内施工的全部房屋建筑面积。包括本期新开工的房屋建筑面积、上期跨入本期继续施工的房屋建筑面积、上期停缓建在本期恢复施工的房屋建筑面积、本期竣工的房屋建筑面积以及本期施工后又停缓建的房屋建筑面积。多层建筑应填各层建筑面积之和。

房屋竣工面积  指报告期内房屋建筑按照设计要求已全部完工，达到住人和使用条件，经验收鉴定合格或达到竣工验收标准，可正式移交使用的各栋房屋建筑面积的总和。

房屋竣工价值  指报告期内按规定已经上报竣工的房屋本身的建造价值。一般按房屋设计和预算规定的内容计算。包括竣工房屋本身的基础、结构、屋面、装修以及水、电、卫等附属工程的建筑价值；也包括作为房屋建筑组成部分而列入房屋建筑工程预算内的设备（如电梯、通风设备等）的购置和安装费用。不包括厂房内的工艺设备、工艺管线的购置和安装，工艺设备基础的建造；室外的水、暖、电、卫、道路工程、挡土墙等环境工程的费用；办公和生活用家具的购置等费用；购置土地的费用；迁移补偿费和场地平整的费用及城市建设配套投资。

项目建成投产率  指一定时期内全部建成投产项目个数与同期施工项目个数的比率。该指标是从建设单位建设速度的角度反映投资效果的指标。

固定资产交付使用率  指一定时期新增固定资产与同期完成投资额的比率。该指标是反映固定资产动用速度，衡量建设过程中宏观投资效果的综合指标。由于新增固定资产是较长时期内形成的结果，而投资额则是当年完成的，因此，该指标一般适宜于反映较长时期内固定资产的动用情况。

商品房销售面积  指报告期内出售商品房屋的合同总面积(即双方签署的正式买卖合同中所确定的建筑面积)。由现房销售建筑面积和期房销售建筑面积两部分组成。

商品房销售额  指报告期内出售商品房屋的合同总价款(即双方签署的正式买卖合同中所确定的合同总价)。该指标与商品房销售面积同口径，由现房销售额和期房销售额两部分组成。

Explanatory Notes on Main Statistical Indicators

Total Investment in Fixed Assets in the Whole Country   refers to the volume of activities in construction and purchases of fixed assets of the whole country and related fees, expressed in monetary terms during the reference period. It is a comprehensive indicator which shows the size, structure and growth of the investment in fixed assets, providing a basis for observing the progress of construction projects and evaluating results of investment. Total investment in fixed assets in the whole country includes, by type of ownership, the investment by State-owned units, collective-owned units, individuals, joint ownership units, share-holding units, as well as investments by entrepreneurs from foreign countries and from Hong Kong, Macao and Taiwan, and by other units.

Urban Investment in Fixed Assets  refers to construction projects involving a total planned (or required) investment of 500,000 yuan and over by enterprises of various types of ownership, institutions, administrative units and individuals in urban areas, investment in real estate development. In other words, all investments that take place in county towns and urban areas, investment in construction projects under the direct leadership and management of government agencies at and above county levels and investments by enterprises and institutions at and above county levels are covered in urban investment in fixed assets.

Investment in Real Estate Development   refers to investment by real estate development companies, commercialized buildings construction companies and other real estate development units of various types of ownership in the construction of buildings, such as residential buildings, factory buildings, warehouses, hotels, guesthouses, holiday villages, office buildings, and the complementary service facilities and land development projects, such as roads, water supply, water drainage, power supply, heating supply, telecommunications, land leveling and other infrastructural projects. It does not include activities in pure land transactions.

Investment in Rural Areas   refers to investment in fixed assets by enterprises, institutions, administrative units and households in rural areas.

Total Size of Construction   refers to the planned total investment for all construction projects during the reference period. This item should correspond with projects under work.

Total Size of Investment in Projects under Construction   refers to the planned total investment of all projects under construction at the end of the reference period.

Net Size of Investment in Projects under Construction   refers to the outstanding requirement of investment of all projects under construction at the end of the reference period.

Net size of investment in projects under construction= Total size of investment – Accumulated completed investment of projects under construction

Sources of Funds for Investment in Fixed Assets  are categorized as funds from the State budget, domestic loans, foreign investment, self-raised funds, and others, depending on the sources of investment.

(1) Fund from the State budget consists of budgetary appropriation and loans from the State budget. More specifically, it includes, from the budget of the central government, capital construction fund (operation fund and non-operational fund), special expenses (e.g. expenses on substituting petroleum with coal), loans from repayment, discount fund, expenses on innovation and trial production of new products, expenses on urban construction, expenses on temporary construction from business departments, development fund for less developed areas, as well as local budgetary fund transferred from the central budget.

(2) Domestic loans refer to loans of various forms borrowed by investing units from banks and non-bank financial institutions during the reference period for the purpose of investment in fixed assets, including loans issued by banks from their self-owned funds and deposit, loans appropriated by higher authorities, special loans by government, loans arranged by local government from special funds, domestic reserve loan, and working loan.

(3) Foreign investment refers to foreign funds received during the reference period for the construction and purchase of investment in fixed assets (covering equipment, materials and technology), including foreign borrowings (loans from foreign governments and international financial institutions, export credit, commercial loans from foreign banks, issue of bonds and stocks overseas), foreign direct investment and other foreign investments. Excluded from this category is capital in foreign exchanges owned by China (foreign exchanges owned by the central and local governments, foreign exchanges retained by enterprises, foreign exchanges by enterprises through the regulating mechanism, loans in foreign exchanges issued by the Bank of China with its own fund, etc.). In calculating the utilization of foreign capital, foreign currencies are converted into Chinese Renminbi applying the current exchange rate when the foreign capitals are actually used.

(4) Self-raised funds refer to extra-budgetary funds for investment in fixed assets received during the reference period by investing units from central government ministries, local governments, enterprises and institutions, including their self-raised funds.

(5) Others refer to funds for investment in fixed assets received from sources other than those listed above, including capital raised through issuing bonds by enterprises or financial institutions, funds raised from individuals and through donations, and funds transferred from other units.

Investment in Fixed Assets by Sector the classification of construction projects by sector is determined by the major products or the purpose of the projects when they are put into production or use, and by the nature of their social economic activities. In general, one project or one enterprise or institution can only be classified into one sector.

Investment in Fixed Assets by Jurisdiction of Management   refers to the classification of investment by the competent authorities under which investment is made by construction units, enterprises, institutions or administrative units.

(1) Central investment refers to the investment in projects or by enterprises, institutions or administrative units which are under the direct leadership and management of the State Council and of the national commissions, ministries, agencies and State-owned large corporations. Various ministries and departments of the State Council prepare and implement plans for investment in fixed assets by those departments, and arrange and ensure the supply of materials and key equipment required for the projects.

(2) Local investment refers to the investment in projects or by enterprises, institutions or administrative units which are under the direct leadership and management of departments under the provincial, prefecture and county governments. Also included are projects by foreign-invested enterprises and enterprises without competent managing authorities.

Investment in Fixed Assets by Type of Construction  construction projects in general can be classified, by the type of construction, into new construction, expansion, reconstruction and technical transformation, moving and restoration. However, investment by type of construction is not applied to investment by real-estate development units, investment in rural areas and private investment in housing construction in urban areas and in industrial and mining areas.

(1) New construction in general refers to construction projects, which start from scratch, of enterprises, institutions, administrative agencies. Construction in existing enterprises, institutions or agencies is generally not considered as new construction. In case the size of the existing unit is quite small, and the value of newly added fixed assets is more than three times of the original value, the expansion will be considered as new construction.

(2) Expansion refers to construction of new major production workshop, branch factory or independent production line within a factory or in other locations, for the purpose of increasing the production capacity (or improving efficiency) or adding new production capacity. Newly constructed accommodation for the operation of institutions and administrative organizations (such as newly constructed buildings for teaching in schools, buildings for clinics or wards in hospitals, etc.) are also classified as expansion.

Also included in expansion are investments by existing enterprises or institutions in building major production line(s) or branch factory(ies) along with some work on innovation, for the purpose of expanding the production capacity of original products or producing new products.

(3) Reconstruction and technical transformation refers to construction projects by existing enterprises or institutions in innovation or technical transformation of the old facilities (including auxiliary production equipment and welfare facilities). Also considered as reconstruction is the construction of new workshops by the existing enterprises or institutions to change the variety of products to meet the market demand (such as the production of civil products by defense industries), or to bring the designed production capacity into full play through a more balanced production process on production lines. Technical transformation refers to replacement of old technology or equipment by new technology or equipment, in order to expand the reproduction through improvement of technology contents in production, to improve product quality, to promote new products, to save energy, to reduce consumption, to expand the production scale and to improve overall social-economic efficiency. Contents of technical transformation include: updating of machinery, equipment and tools; reforming production process by using energy or materials saving technology; construction of factory workshops and transformation of public facilities; improvement of working conditions and environment, etc.

Investment in Fixed Assets by Structure  by their contents and the mode of implementation, investment activities are classified into 3 categories, i.e. construction and installation, purchase of equipment and instrument, and other expenses.

(1) Construction and installation (work volume of construction and installation) refers to the construction of houses and buildings and the installation of various kinds of equipment and instruments. They include construction of houses; equipment foundations, industrial kilns and stoves, and metal structure work; preparation works and temporary works for project construction, and clearing up works post project construction; pavement of railways and roads, drilling of mines and putting up of oil pipes; construction of water conservancy; construction of underground air-raid shelters and construction of other special projects; value of equipment for heating, sanitation, ventilation, lighting, gas, painting, etc. that are covered by the budget of housing projects; laying out of various pipelines (for steam, compressed air, petroleum, tap water and sewage) and wiring and cabling for electric power and for communications; installation of various machinery and equipment; testing operation for pre-testing the quality of installation projects, and land and other development work conducted by real estate developers for commercialized housing.

The value of equipment installed is itself not included in the value of installation projects.

(2) Purchase of equipment and instruments refers to the total value of equipment, tools, and instruments purchased or self-produced which come up to the cut-off point for fixed assets by the construction units or investing enterprises or institutions. Equipment, tools and instruments purchased or self-produced for new workshops by newly established or expanded units are categorized as “purchase of equipment and instruments” no matter whether they come up to the cut-off point for fixed assets.

(3) Other expenses refer to expenses arising during the construction or purchase of fixed assets other than those mentioned above.

Projects under Construction  refer to projects with construction and installation activities undertaken in the reference period. All projects that have construction activities undertaken during the reference period are reported as projects under construction irrespective of the length of construction work. The number of projects under construction can reflect the actual size of investment in fixed assets during a given period, and when compared with the number of projects completed and put into use during the same period, it demonstrates the results of investment in fixed assets from the angle of the speed of the construction. Depending on the nature of construction activities, projects under construction can also be classified into projects beginning construction in current year, winding-up projects in current year and stopped or suspended projects in previous years (with resumption of work in current year).

Projects Completed and Put into Use  Industrial projects refer to the major projects and auxiliary facilities having been completed in accordance with the design documents, resulting in forming production capacity and having checked and accepted after relevant tests, while the living and welfare facilities having been completed and being capable of ensuring normal production. Non-industrial projects refer to the major projects and auxiliary facilities which have been completed in accordance with the design documents; have been checked, accepted after relevant examination; and have been formally delivered for use.

Newly Increased Production Capacity (or Project Efficiency) refers to the increase in design capacity (or project efficiency) through investment in fixed assets, which reflects the accomplishment of investment in fixed assets in physical form and serves as an important basis for evaluating the economic efficiency of investment.

The newly increased production capacity (project efficiency) is usually expressed in one of the following forms:

(1) Volume of output of products, i.e. the volume of output that the project can produce during a given period (usually a year). For instance, the capacity in coal mining is expressed in 10,000 tons/year, the capacity in producing chemical pesticides expressed in ton/year, the capacity in producing tractors in tractor/year, etc. For some chemical products where the effective contents differ significantly, the production capacity is expressed as the designed effective content equivalent, such as in the case of sulphuric acid, soda ash, caustic soda, etc;

(2) volume of raw materials processed per unit of time, i.e. the volume of raw materials that could be processed by the project per day (or per hour), such as tons of materials processed per day by a sugar refining project or edible vegetable oil project, or tons of urban sewage processed per day;

(3) number or capacity of major equipment increased, such as number of cotton or silk looms increased, wool spindles increased, or capacity (in kilowatts) of power generators increased; and

(4) physical measures (volume, capacity, area, and length) of construction, which is typical for non-industrial projects, for instance, the length of railways put into operation, the length of highways, the capacity of reservoirs, the capacity of warehouses, the floor space of housing projects, capacity for new students in schools or beds in hospitals, areas under new irrigation project, etc.

The special features of projects may sometimes call for the combined use of two or more measurements to reflect the increase in production capacity (or project efficiency); for instance, the new capacity for the production of internal combustion engines is expressed in sets per year and kilowatts per year simultaneously.

To standardize the nomenclature and unit of measurement for newly increased production capacity (or project efficiency), the National Bureau of Statistics has developed the Nomenclature and Codes for New Production Capacity (Project Efficiency). All reporting units with investment activities are required to follow these two nomenclatures in reporting statistics on new production capacity (project efficiency).

Floor Space of Buildings under Construction refers to the total floor space of the horizontal section of outer walls above the plinth of the building, including the effective area and the area occupied by the structure. This indicator is one of the important indicators in physical terms to reflect the scale and accomplishment of the construction industry and also an important basis for monitoring the progress, calculating the cost, analyzing the efficiency and studying the supply of building materials in relation to the construction projects.

Floor Space of Residential Buildings refers to the floor space of the residential buildings among the total space of buildings under construction or completed.

Floor Space under Construction   refers to total floor space of all buildings under construction during the reference period, including floor space of newly started buildings during the reference period, floor space of construction extended from the previous period to the current period, and floor space of construction suspended during the previous period and resumed in the current period. Floor space of construction completed in the current period, and floor space of construction started and then suspended in the current period are also included in the floor space under construction of the current year.

Floor Space Completed refers to the floor space of all buildings completed in the reference period, which have been appraised and accepted (or come up to the designed standards) and has been transferred to owner units.

Completion Rate of Floor Space of Buildings refers to the ratio of the floor space of buildings completed in a certain period of time to the floor space of buildings under construction in the same period.

Newly Increased Fixed Assets refer to the newly increased value of fixed assets, constructed or purchased, that have been transferred to the investors. This is an indicator that demonstrates the results of investment in fixed assets in monetary terms, and an important indicator to reflect the speed of construction and to calculate the efficiency of investment.

Rate of Construction Projects Completed and Put into Use refers to the ratio of the number of construction projects completed and put into use in a certain period of time to the number of projects under construction in the same period. This reflects the investment efficiency from the perspective of the speed of projects construction.

Rate of Projects of Fixed Assets Completed and Put into Operation refers to the ratio of the newly increased fixed assets to the total investment made in the same period. This is a comprehensive indicator reflecting the speed of the employment of fixed assets and the investment efficiency at the macro-level. As the newly increase fixed assets is the result of a long period while the investment is completed in the current year, this indicator is expected to be used to reflect the employment of fixed assets over a long period of time.

Area of Commercialized Housing Sold   refers to total contracted area of commercialized housing (i.e. area of floor space as designated in the formal contracts signed by both sides) during the reference time. It constitutes floor space of completed housing and floor space of future housing.

Value of Commercialized Housing Sold   refers to the total contracted value (i.e. value of sales/purchase for selling/purchase of commercialized housing as designated in the contract signed by both sides) during the reference time. This indicator has the same coverage as the area of commercialized housing sold, which constitutes floor space of completed housing and floor space of housing yet to be completed.

Economically Affordable Housing refers to housing constructed according to the State Plan for economically affordable housing. The features of houses of this category are low cost of construction and low prices, and therefore are affordable to mid-income and low income households. Economically affordable housing projects are developed by real estate companies under the State Investment Plan, with the land provided through government allocation or tendering procedures. Developers are exempted from land utilization fees and enjoy another 50% exemption of all other legitimate fees, while their profits are limited to less than 3%, and the completed houses are sold under government-guided prices. This indicator helps to analyze the investment structure of the real estate industry and the demand and supply of housing for mid-income and low income households.