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2015-10-16Data

Data Change: China, Quarterly National Accounts

On October 19 2015, National Bureau of Statistics of China will be publishing new data according to methodological changes / reclassification in quarterly National Accounts. This has been announced in media on Sep, 9th 2015: http://www.cnbc.com/2015/09/09/china-gdp-data-calculation-method-to-be-changed-to-improve-accuracy.html
  1. GDP released by quarter to be switched to non-cumulative (non-aggregate form).
  2. Data will include: (a) GDP at current price, (b) GDP at fixed price, (c) P/P growth rate, (d) Y/Y growth rate; (e) GDP cumulative at fixed price, (f) Y/Y growth rate for cumulative at fixed price.
  3. Historical values will be provided back to 1992 for Current Prices.
  4. Changes will apply only to National figures but not By Region.

The new quarterly series will reside in the regular MB National Accounts Economics - by country > China > National Accounts


1. Current Prices series will be available under new codes, but they will be also linked to equivalent series of old approach, so all users using old codes, will automatically get proper series for new methodology, for example:
Old code New code
GDP Total at Current Prices cnnaac1900 cnnaac0985
Production Approach, Total Services cnnaac1903 cnnaac0988

2. Constant Prices (base year 2010) new series with history backing to Q1 2011 will be available in parallel under new codes, for example:
Code
GDP Total at ConstantPrices cnnaac0991
Production Approach, Total Services at Constant Prices cnnaac0994

3. Cumulative (aggregated) series with history backing to Q1 2011 produced by NBS in a new way exemplary codes:
Code
GDP Total at Constant Prices, Aggregate cnnaac0998
Production Approach, Total Services at Constant Prices, Aggregate cnnaac0998

4. For comparing purposes Official Old Methodology Aggregates & MB Calculated Old Methodology Non-Aggregates can be found in the same location as "discontinued” entities. To standardize, we have renamed 24 quarterly series so they can be distinguished as ‘Old Methodology’ & ‘MB Calculation’, for reference:
Current Prices, Aggregate Value Current Prices, MB Calculated Non-Aggregate Constant Prices, Same Period of Previous Year Change
GDP Total cnnaac9991 cnnaac9986 cnnaac9995
Production Approach, Total Services cnnaac9994 cnnaac9989 cnnaac9998

5. RegionKey and ReleaseKey series are forwarded to the newly introduced non-cumulative (non-aggregated) series.

Other:

Related Release China, National Accounts
Source China National Bureau of Statistics
Frequency Quarterly
Geography China
MB Location Economics - by country > China > National Accounts
Upcoming Release date: 19 Oct 2015
Reference date: 3Q 2015