China Begins to Use New Price Index This YearIt is reported that beginning from this year, the statistics, publication and use of China's price index will be changed from the one based mainly on commodity retail price index to the one based chiefly on residential consumption price index. Reports say that the use of the new price index will give a more comprehensive reflection of the situation in price change.It is reported that the State Development Planning Commission and the National Bureau of Statistics (NBS) recently jointly issued a notice, calling for readjustment of statistics and controls of prices. The new price statistic index which include the prices of housing and service items in the scope of statistics can give a more comprehensive and accurate reflection of changes in economic development, residents' expenditure pattern and the general price level.. Reports show that related notice given by the central government calls on various localities, in light of their own conditions concerning local economic development and the characteristics of changes in market supply and demand, to conduct thorough investigation and study, readjust, strengthen and improve the local price monitoring system, increase charges on institutions of higher learning, the prices of automobiles, housing, medical services as well as the means of production and other monitoring items, and conduct follow-up tracing of major change in prices relating to the means of production and investment in fixed assets.. |
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