GDP cal­cu­la­tion method gets re­vi­sion

China Daily (Canada) - - NEWS CAPSULE -

China’s Na­tional Bureau of Statis­tics (NBS) has adopted a new method of cal­cu­lat­ing GDP that it says “bet­ter re­flects the con­tri­bu­tion of in­no­va­tion to eco­nomic­growth.”

Re­search and devel­op­ment (R&D) ex­pen­di­tures that can eco­nom­i­cally ben­e­fit com­pa­nies will no longer be cal­cu­lated as in­ter­me­di­ate con­sump­tion, but as fixed cap­i­tal for­ma­tion, the NBS said in a state­ment.

The ad­just­ment was made ac­cord­ing to the 2008 SNA (Sys­tem of Na­tional Ac­counts), which was un­veiled by five in­ter­na­tional or­ga­ni­za­tions, in­clud­ing the United Na­tions, in 2009 topro­vide a “com­pre­hen­sive, con­sis­tent and flex­i­ble set of macroe­co­nomic ac­counts.”

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