Skip to main content

Advertisement

Advertisement

China changes GDP calculation method

China is tweaking the way it reports quarterly GDP data, paving the way for the nation to adopt an International Monetary Fund (IMF) standard as it pursues its goal of gaining reserve currency status for the yuan.

China is tweaking the way it reports quarterly GDP data, paving the way for the nation to adopt an International Monetary Fund (IMF) standard as it pursues its goal of gaining reserve currency status for the yuan.

The new reporting method will allow China to adopt the IMF’s Special Data Dissemination Standard and will better reflect short-term fluctuations in the economy, the National Bureau of Statistics said yesterday. Previously, China’s quarterly GDP data, in terms of value and growth rates, was derived from cumulative figures rather than economic activity of that particular quarter.

The bureau, which this week also revised lower its GDP growth number for 2014 to 7.3 per cent from 7.4 per cent, said it will publish third-quarter GDP data, due out on Oct 19, based on the new methodology. Agencies

Read more of the latest in

Advertisement

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.