Tuesday, December 20, 2005

Thanks Dylan for the correction. NBS is increasingly professionalizing, but don't let anyone fool you, their objective remains revenue maximization. The amount they charge for access to the census data is criminal:

NBS is going to try to make historical figures back to 1993 a bit more accurate Li said..."In order to ensure the comparability of GDP data over time, it is necessary to revise historical data in line with international practices. At present, NBS is working on the revision of data back to 1993 on the basis of revised GDP figures in the census year, using the trend deviation method which is widely adopted by the Organization for Economic Co-operation and Development (OECD). Results of the revision will be released on another occasion."
# posted by dylan : 7:33 PM

The main thing that the new figures do is to make a lot of the ratios reasonable. People had been criticizing China for a 60% investment rate, but if you adjust the GDP then investment ratios go down and consumption ratios probably go up since services are less capital intensive.

Joseph Wang
Looks like they are going to work with Angus Maddison, if the NBS decides to adopt the OECD method. I guess Maddison needs to revise his previous figures for China's economy as well (to incorporate the service sector findings).
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