China to promote unified regional calculation of GDP

2020-01-06 08:43:37Xinhua Editor : Gu Liping ECNS App Download

China will introduce unified regional calculation of gross domestic product (GDP) to enhance the accuracy of the results, the National Bureau of Statistics (NBS) said Sunday.

The new accounting system will take effect while calculating the annual regional GDP of 2019, said Ning Jizhe, head of the NBS, at a work conference in Beijing.

Since the establishment of the GDP accounting system in 1985, the NBS has been in charge of overall GDP calculation, while provincial-level regions have calculated their own regional GDP separately.

However, the aggregate of regional GDP frequently exceeds the national total unveiled by the bureau due to different accounting methods, according to the bureau.

After the reform, the NBS will lead the unified accounting of regional GDP by conducting unified accounting procedures and result releases.

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