China is taking measures to provide more accurate GDP information and improve its data dissemination system, the National Bureau of Statistics (NBS) said. The admission that the country’s GDP figures are not as accurate as they could be comes as little surprise to most observers of China’s economy.
Official GDP figures are sometimes released even before the end of the time period they cover and are not revised later. From 2004, the statistics bureau will not announce the annual GDP estimate figures until around January 20. The bureau will also publish preliminary revision and final revision GDP figures later.
Recently, some Western researchers estimated that China’s GDP growth in 2003 would exceed 10%, far beyond China’s official forecast of 8.5%.