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.

Similar

China's 2017 GDP surge steps up for the first time for 7 years

During the fourth quarter of 2017 China's economy tacked on faster than anticipated because an export revival helped the country to report its first annual acceleration in surge for seven years, thus defying worries that intensifying curbs on industry as…

Daily News: Thursday, January 18

A lot of important events happened in the economic world, do not miss them! Reports of the Australian labor market in December 2017 were delivered at night on January 18…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera