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      14. CONSTRUCTION
 
Indicator
Explanation
Statistical Unit in Construction refers to corporate enterprise engaged in the construction of buildings and structures and in the installation of equipment. A corporate construction enterprise should meet the following 3 requirements:ó┘being set up in line with relevant legal basis, having its full name, organization and location, and capable of taking civil liabilities;ó┌independently possessing and using its assets and assuming its liabilities, and entitled to sign contracts with other institutions; and ó█ making independent accounts of its profits and losses, and capable of compiling its own balance sheet.
Gross Output Value of Construction (Output Value of Projects Under Construction) refers to total of construction products, expressed in money terms, completed by construction and installation enterprises during a given period of time. It includes:
(1)Output value of construction projects, that is the value of projects covered by the project budgets;
(2)Output value of installation projects, that is the value of the installation of equipment, (excluding the value of the equipment to be installed);
(3)Output value of repair of buildings and structures, that is the value created through the repairs of buildings or structures, but does not include the value of buildings or structures being repaired and the value of the repair of production equipment;
(4)Output value of manufactured non-standard equipment, that is the value of non-standard production equipment (including raw materials and manufacturing cost) made for the construction project, and the equipment manufactured by subsidiary workshops.
Value-added of Construction refers to the final result of the activities of production and management of construction in monetary terms in the reference period. At present, the value-added of construction is calculated with the income approach. In other words, it is the sum of income of various production factors in the production process.
The formula is as follows:
Value-added of construction = depreciation of fixed assets in the year + wages payable + welfare expenses payable + insurance premium and tax for waiting for employment in the administrative expenses +taxes and surcharges on project settlement + profit gained from project settlement.
Floor Space of Buildings Under Construction refers to floor space of buildings under construction during the reference period, including newly started buildings, buildings started earlier and continued during the reference period, and buildings suspended earlier but restarted during the reference period, buildings completed during the reference period, and buildings under construction and then suspended during the reference period.
Floor Space of Buildings Completed refers to the floor space of buildings that are completed in the reference period in accordance with the requirements of the design, up to the standard for putting them into use, and have been checked and accepted by concerned departments as qualified ones.
Total Number of Machinery and Equipment Owned by the End of Year refers to the number of machines and equipment owned by the enterprises, and listed as the fixed assets of the enterprises by the end of the year, including machinery and equipment for construction, production and transportation.
Total Power of Machinery and Equipment Owned by the End of Year refers to the total power of machinery and equipment owned by the enterprises, and listed as the fixed assets of the enterprises by the end of the year, including machinery and equipment for construction, production and transportation. The power of the machinery is calculated on basis of the designed or verified capacity, covering the power of the machinery/equipment and the separate power equipment serving the machinery/equipment (such as electric motors), but excluding welders, transformers and boilers. The unit used for the calculation of power is kilowatt, with horsepower converted to kilowatt by 1 horsepower=0.735 kilowatt.
Income from Settlement of Projects refers to the income received by the construction enterprise from the contracted project through settlement procedures, and other charges to the contractor as operational costs in addition to the value of the project, such as temporary facility fee, labour insurance premium, moving cost of construction equipment, as well as various types of claims to the contractor.
Profit from Settlement of Projects refers to profit realized through settled projects.
It is calculated with the following formula:
Profit from Settlement of Projects = Income from Settlement of Projects-Settled Cost-Settled Taxes and Other Cost.
Total Revenue of Enterprises refers to the sum of income from production and operation of enterprises, including income from settlement of projects and other operational income, namely:
Total Revenue of Enterprises = Income from Settlement of Projects + Other Operational Income.
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