GDP data in fraud crackdown will be unveiled by China

GDP data in fraud crackdown will be unveiled by China

In China, the National Bureau of Statistics is on the verge of taking over data collection at the regional level staring from 2019. That’s what a government official informed. The move is expected to replace the current system in which the combined economic output of the country’s provinces has long surpassed national output assessed by the NBS.

On Monday, National Bureau of Statistics Deputy Head Li Xiaochao told that there had been considerable improvement in the long-standing discrepancy between national as well s regional GDP reports.

The Chinese government had boosted inspections of potentially fraudulent data. Additionally, the government was trying to unify the accounting systems utilized by local and national authorities.

The NBS is going to work with regional statistics agencies for the purpose of compiling regional data, with regional and national data to be published together once the new system is launched.

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