Brief
Introduction
Statistics
on national accounts include mainly four parts, namely, gross domestic product,
input-output table, flow of funds table and balance of payments
table.
I.
Gross Domestic Product
Data
on GDP are computed by the Department of National Accounts of the National
Bureau of Statistics (NBS) based on different approaches in the light of the
different features of various sectors, various expenditure structures and
different data sources. Gross National Income (GNI) can be calculated on the
basis of GDP on top of which is added the net factor income from the rest of the
world.
Data
on GDP and related indicators of the most recent year published in the Yearbook
are not final and are subject to changes when more information from financial
data and administrative records become available. Where a census has been
conducted, historical data of GDP of the previous years may also undergo change.
The Second Economic Census was conducted in 2008, according to the GDP Accounting Methodology in the Year of
Economic Census
, GDP in the year of Census is calculated again, and GDP
historical data is revised from 2005 to 2007 by trend deviation method. Data in
the Yearbook are revised data.
Gross
Domestic Product (GDP) is a measurement of value which changes depending on
changes of price and production. GDP at constant prices converts the gross
domestic product based on the current price into a value based on the price of
the base period. When adjusted for price changes, the values of two different
periods can be compared to reflect changes of both products and production
activities. GDP index is derived from the constant-price GDPs of the two
periods. As economy grows, changes will take place in the price structures of
various industries, and the base period for the measurement of constant-price
GDP thus needs to be adjusted every few years in order to better reflect the
impact of price change on the economy. Since China started GDP calculation,
seven constant-price base periods have been used, i.e., 1952, 1957, 1970, 1980,
1990, 2000 and 2005, and the current base period is 2005. That is to say, the
2006 GDP is calculated on the basis of the 2005 prices. As the calculation of
constant-price GDP is based on different base periods, the constant-price GDP
data in this yearbook shall also be announced in accordance with various
periods.
Regional
data in this Yearbook are prepared from the national accounts data provided by
the statistical bureaus of the provinces, autonomous regions and municipalities.
The sum of the regional data is not equal to the national total due to the
decentralized accounting approach.
II.
Input-output Table
The
Input-output table may be viewed as a table showing sector relationships and
balances or one showing sector output relationships. Reflecting the sources of
the input into, and the utilization of the output from, the production by
various industries of the national economy, the input-output table takes the
form of a chess-board shaped matrix format , and is used to reveal, in
quantitative terms, the interrelated and mutually dependent economic and
technological relationships among industries. The input-output table of
III.
Flow of Funds Table
Similar
to internationally accepted format, the Flow of Funds table of
IV.
Balance of Payments Table
The
Balance of Payments Table is compiled by the Balance of Payments Department of
the State Administration of Foreign Exchanges in accordance with the
5th edition of the Manual on Balance of Payments prepared by
the International Monetary Fund.