China | Gross capital formation (current US$)

Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and "work in progress." According to the 1993 SNA, net acquisitions of valuables are also considered capital formation. Data are in current U.S. dollars. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities. The quality of data on government fixed capital formation depends on the quality of government accounting systems (which tend to be weak in developing countries). Measures of fixed capital formation by households and corporations - particularly capital outlays by small, unincorporated enterprises - are usually unreliable. Estimates of changes in inventories are rarely complete but usually include the most important activities or commodities. In some countries these estimates are derived as a composite residual along with household final consumption expenditure. According to national accounts conventions, adjustments should be made for appreciation of the value of inventory holdings due to price changes, but this is not always done. In highly inflationary economies this element can be substantial. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
People's Republic of China
Records
63
Source
China | Gross capital formation (current US$)
1960 23638465762.372
1961 11415559017.779
1962 7429461014.2379
1963 11034704004.25
1964 14537402056.78
1965 19089166799.699
1966 23364655783.613
1967 17391384871.856
1968 17665789279.347
1969 19933364229.313
1970 30438001510.271
1971 33570752158.271
1972 35525993382.823
1973 45658319637.522
1974 47879670018.005
1975 57258710409.539
1976 51138255627.983
1977 59266474723.372
1978 82165148669.518
1979 95719190738.954
1980 105949098338.23
1981 95411862739.806
1982 90800680433.289
1983 97293717310.32
1984 107854874340.52
1985 121034589283.89
1986 113374999003.71
1987 122072642911.26
1988 159378802127.83
1989 169779190247.27
1990 134775171611.05
1991 145658460288.54
1992 192677822833.93
1993 267971150971.89
1994 226012513727.35
1995 285257162024.12
1996 324266353270.17
1997 341589349101.43
1998 358253939686.61
1999 373163791101.93
2000 406680720635.03
2001 476044465310.66
2002 531657230030.31
2003 657805319596.86
2004 818257819440.14
2005 922297304107.22
2006 1098379877425.5
2007 1437250452840.7
2008 1941981447920.5
2009 2313935057680.6
2010 2833962406811.3
2011 3523560369860.6
2012 3944025353700.5
2013 4440598042402.6
2014 4800345425538.9
2015 4782449534796.5
2016 4788916318332.3
2017 5295148247125.4
2018 6085063022930.8
2019 6176244264469.9
2020 6369586163393.1
2021 7687799528607.3
2022 7776132850869.8

China | Gross capital formation (current US$)

Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and "work in progress." According to the 1993 SNA, net acquisitions of valuables are also considered capital formation. Data are in current U.S. dollars. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities. The quality of data on government fixed capital formation depends on the quality of government accounting systems (which tend to be weak in developing countries). Measures of fixed capital formation by households and corporations - particularly capital outlays by small, unincorporated enterprises - are usually unreliable. Estimates of changes in inventories are rarely complete but usually include the most important activities or commodities. In some countries these estimates are derived as a composite residual along with household final consumption expenditure. According to national accounts conventions, adjustments should be made for appreciation of the value of inventory holdings due to price changes, but this is not always done. In highly inflationary economies this element can be substantial. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
People's Republic of China
Records
63
Source