LINE

    Text:AAAPrint
    Economy

    China to apply unified GDP calculation method

    1
    2017-10-31 11:04Xinhua Editor: Gu Liping ECNS App Download

    China will put in place a unified GDP calculation system in 2019 that will see the National Bureau of Statistics (NBS) take over data collection responsibilities from local authorities.

    Unified calculation will replace the current system in which national GDP and regional data are calculated separately by the NBS and regional offices.

    NBS deputy head Li Xiaochao said on Monday that the discrepancy between national and regional GDP data may hinder accurate understanding of the regional economy and harm the government's statistical credibility.

    According to Li, the government is working to unify accounting systems at national and regional levels, which will narrow the gap between national and regional GDP data.

    The NBS will work with regional authorities and statistics agencies, to conduct research on methods of collecting and calculating regional GDP data, he said.

    The government has promised zero tolerance for fabrication of economic data. Earlier this year, northeast China's Liaoning Province admitted that economic data had been falsified from 2011 to 2014.

    Despite the many imperfections in statistical methodology, policymakers rely heavily on the key economic indicators to adjust macro-controls in the economy.

    Official data showed China's economy strong resilience in the first three quarters with GDP expansion holding steady at 6.9 percent year on year.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 女性| 沙河市| 鄯善县| 阳曲县| 云梦县| 中方县| 都匀市| 高淳县| 凤山县| 扎囊县| 涿州市| 馆陶县| 吉林省| 平顶山市| 镶黄旗| 淮滨县| 灵山县| 绩溪县| 博爱县| 开封县| 龙南县| 麦盖提县| 平果县| 馆陶县| 湖北省| 武安市| 黎平县| 沛县| 平昌县| 天台县| 柞水县| 宁化县| 晋宁县| 昭苏县| 南城县| 安阳市| 思南县| 平乐县| 麻阳| 正宁县| 阳曲县|