China revises GDP up US$130 billion by including R&D | SCMP

Discussion in 'China' started by Martian, Jul 7, 2016.

  1. Martian

    Martian Respected Member Senior Member

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    China's nominal GDP is $11 trillion. From one perspective, an upward revision of US$130 billion due to the inclusion of Research & Development doesn't appear significant.

    However, from a different viewpoint, the same US$130 billion upward revision is equivalent to 1/10th the size of the Russian nominal economy.

    China is incrementally revising its nominal GDP calculation to meet the SNA 2008 standard. China is currently using the archaic SNA 1993 standard and the R&D revision is a first step towards meeting the modern SNA 2008 standard.

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    Small change: China tweaks how it calculates GDP, adding US$130b to size of economy | South China Morning Post

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