China to Improve Statistics Quality with IMF Standards

Home>>Business

Last updated at: (Beijing Time) Thursday, December 13, 2001

China to Improve Statistics Quality with IMF Standards

China is to adopt the general data distribution system that is recommended by the International Monetary Foundation (IMF) to release official statistics starting from next year, according to a meeting of the country's senior statisticians Thursday.

The move is part of the Chinese government's drive to improve the quality of statistics and service in response to transparency requirements after the country's entry into the World Trade Organization.

In a written decree to the National Bureau of Statistics (NBS),Vice Premier Wen Jiabao asked the statisticians to establish a setof statistic rules, a system and methods according to the practical conditions of China and in line with international practice.

NBS Director Zhu Zhixin said at the meeting that China will continue to reform its statistics system by adopting a new and precise method of calculating agricultural and industrial growth next year.

He said the country will set up a renewable data bank about allbasic units of social and economic activities in China, updating it with the launch or closure of every company with legal person status. The work will be done next year through a national survey of basic units.

Zhu noted that the government has already taken effective measures to improve the reliability of statistics.

In 2001, the NBS carried out a nationwide examination and discovered more than 62,000 cases of violating the Statistics Law. Among the cases, more than 19,000 have been put under investigation.

By the end of October, more than 13,000 of the investigated cases had been concluded, with a number of offenders punished, he said.

IMF Expects China's Economy to Continue Growing Strongly

IMF Says Chinese Economy to Grow 7.5 Percent in 2001

China Important to Stability of Asian Economy: IMF