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
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.