Home>>Business
Last updated at: (Beijing Time) Wednesday, December 24, 2003

New calculating method of industrial, agricultural growth adopts int'l practice

China is to adopt an internationally accepted method to calculate its industrial and agricultural growth from next year, China's top statistician said Tuesday.


PRINT DISCUSSION CHINESE SEND TO FRIEND


China is to adopt an internationally accepted method to calculate its industrial and agricultural growth from next year, China's top statistician said Tuesday.

Li Deshui, director of the National Bureau of Statistics (NBS), said at a national statistic meeting that the move was a major reform of the country's compilation of key economic figures.

The new method is based on price indices and widely practiced in Western countries. The NBS has already adopted this method on a trial basis to calculate industrial and agricultural figures this year.

So far, China has been using a calculating method based on fixed price, which was commonplace under the planned economic system. However, as China developed a market economy that is merging into the world, the old method can no longer reflect the real trend of industrial and agricultural growth.

Li said China had reformed its economic statistics system by adopting the basic principles and calculating methods of the United Nations. It also reformed the compilation and release of gross domestic product (GDP) figures this year, adopting a readjustment system of GDP according to international practice.

Li said the country will continue to reform GDP calculation at local levels this year. From Jan. 1, 2004, average per capita GDP will be calculated on the basis of the real number of residents inthe region, instead of the number recorded at household registration.


Questions?Comments? Click here
    Advanced






New accounting rules ensure world norms met

Government adviser: China's growth credible

Rich countries urged not to engage in 'black' calculating: economic perspective





 


Trade war? A buying spree for cheap Chinese goods ( 55 Messages)

Humanization reform gets started in prison in China ( 2 Messages)

China develops IPv6 technology to tackle IP address exhaustion ( 3 Messages)

Returned overseas students to work in government ( 2 Messages)

EU considers lifting 14-year-old ban on arms sales to China ( 8 Messages)



Copyright by People's Daily Online, all rights reserved