NBS to launch new GDP method in 2019
China Daily | Updated: 2017-11-01 07:17
China will put in place a unified gross domestic product calculation system in 2019 that will see the National Bureau of Statistics take over data collection responsibilities from local authorities. The 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.
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