China to reform GDP calculation and statistics release
( 2003-11-20 16:06) (Xinhua)
China will reform gross domestic product (GDP) calculation and statistics release based on international standards, so that the statistics objectively reflect the performance of the economy.
Li Deshui, director of China's National Bureau of Statistics ( NBS), said here Thursday that the reform plan had been approved by the State Council, and will be implemented by NBS. He pointed out China's GDP calculation method, initiated in 1985, had been improved gradually. However, the calculations still had some problems due to the lack of a regular adjusting and revising mechanism. Some traditional methods did not comply with international norms, arousing some criticism from the international community.
Li said the reform plan will mainly focus on the annual and quarterly GDP calculation. Important statistics relevant to GDP and the method of calculation will be announced to the public if necessary. Monthly GDP figures would no longer be released except in special circumstances.
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