China adjusts GDP revision, output equivalent to Malaysian economy

[cirr]

China adjusts GDP revision, output equivalent to Malaysian economy

Published: December 19, 2014 10:50 AM

BEIJING, Dec 19 — China revised the size of the economy by US$308.8 billion (RM1.073 trillion), adding almost the entire output of Malaysia.

The gross domestic product of the world’s second-largest economy was 58.8 trillion yuan in 2013, according to the results of a nationwide economic census announced today. That’s 3.4 per cent larger than the previously reported figure. Malaysia’s 2013 GDP was US$312 billion.

The size of the revision was smaller than the last time China performed the calculation, in 2008, reflecting more accurate counting of a rapidly expanding services industry. The larger GDP makes China’s debt look smaller by comparison, which may give policy makers more room to maneuver as they seek ways to bolster growth set to be the lowest since 1990 this year.

“China is using an upgraded methodology and the results should be taken seriously,” Daniel Rosen and Beibei Bao at Rhodium Group wrote in a research note last week.

The economic census is conducted about every five years to gather information on the manufacturing and services industries. Over 10 million businesses and about 60 million enterprises were visited early this year by about 3 million census takers, according to the official Xinhua News Agency.

The past two censuses led to a 16.8 per cent boost to 2004 GDP size and a 4.4 per cent increase in 2008. Ma Jiantang, the head of the National Bureau of Statistics, had said Dec. 16 that China would revise 2013 GDP upward by “a bit more” than 3 per cent.’’

A Bloomberg survey of 12 economists showed a median forecast of 1 per cent to 3 per cent for the revision to 2013 GDP. — Bloomberg

 

[Viet]

I just wonder why China only takes few weeks to calculate GDP, while Germany few months, considering the latter is much smaller and more technologically advanced? You only need a year to build a nuclear powered aircraft carrier while even a superpower America more than 5 years. Seems China is a superman superpower now.

Congrat! I put my hat down before CCP.

 

[senheiser]

I just wonder why China only takes few weeks to calculate GDP, while Germany few months, considering the latter is much smaller and more technologically advanced?

they are searching for more drug trafficking to calculate it into their economy too LOL

 

[Viet]

they are searching for more drug trafficking to calculate it into their economy too LOL

well, the british adds drug consumption and prostitution into GDP output. Nice
Not sure about China

 

[Bilal.]

@cirr what's the total size of the economy. Has it crossed $10 trillion mark officially yet?

 

[cirr]

@cirr what's the total size of the economy. Has it crossed $10 trillion mark officially yet?

9.5 trillion for 2013 using annual average USD-RMB exchange rate of 1:6.2.

2014 will likely see another trillion added to the economy。

The adoption of SNA 2008 in 2014 or 2015 will inflate the GDP by a further 8-10%.

 

[IPen]

I just wonder why China only takes few weeks to calculate GDP, while Germany few months, considering the latter is much smaller and more technologically advanced? You only need a year to build a nuclear powered aircraft carrier while even a superpower America more than 5 years. Seems China is a superman superpower now.

Why always refer to US,Germany etc,why not talk about your own country?LOL. like a pitiable little boy saying "i cant beat u, but others in the world will do"
"build a nuclear powered aircraft carrier in a year" may be in fact one of your own dreams about VN.

they are searching for more drug trafficking to calculate it into their economy too LOL

we will never do that.


Groundless speeches from this community's antiChina members make me feel nonsense to communicate...

 

[Raphael]

they are searching for more drug trafficking to calculate it into their economy too LOL

Only Britain and Italy do that. Germany's economy, especially its manufacturing sector, is still very healthy.

But with the trials and tribulations to which the US is subjecting the European peninsula, we can only wonder how long the German economy will stay healthy. If they can't guarantee cheap and reliable energy supplies because they are forced to fight proxy wars on behalf of others, even the jewel of the European economy may crack.

 

[bolo]

I just wonder why China only takes few weeks to calculate GDP, while Germany few months, considering the latter is much smaller and more technologically advanced? You only need a year to build a nuclear powered aircraft carrier while even a superpower America more than 5 years. Seems China is a superman superpower now.

Congrat! I put my hat down before CCP.

You seen how Europeans work right? 1 Chinese worker output= 3 European, SE Asian, S.Asian worker output

 

[asquare]

China adjusts GDP revision, output equivalent to Malaysian economy

Published: December 19, 2014 10:50 AM

BEIJING, Dec 19 — China revised the size of the economy by US$308.8 billion (RM1.073 trillion), adding almost the entire output of Malaysia.

The gross domestic product of the world’s second-largest economy was 58.8 trillion yuan in 2013, according to the results of a nationwide economic census announced today. That’s 3.4 per cent larger than the previously reported figure. Malaysia’s 2013 GDP was US$312 billion.

The size of the revision was smaller than the last time China performed the calculation, in 2008, reflecting more accurate counting of a rapidly expanding services industry. The larger GDP makes China’s debt look smaller by comparison, which may give policy makers more room to maneuver as they seek ways to bolster growth set to be the lowest since 1990 this year.

“China is using an upgraded methodology and the results should be taken seriously,” Daniel Rosen and Beibei Bao at Rhodium Group wrote in a research note last week.

The economic census is conducted about every five years to gather information on the manufacturing and services industries. Over 10 million businesses and about 60 million enterprises were visited early this year by about 3 million census takers, according to the official Xinhua News Agency.

The past two censuses led to a 16.8 per cent boost to 2004 GDP size and a 4.4 per cent increase in 2008. Ma Jiantang, the head of the National Bureau of Statistics, had said Dec. 16 that China would revise 2013 GDP upward by “a bit more” than 3 per cent.’’

A Bloomberg survey of 12 economists showed a median forecast of 1 per cent to 3 per cent for the revision to 2013 GDP. — Bloomberg

The important part of all of this is that it leaves your government more room for fiscal stimulus when required. In any case China is a very low public debt economy- that's why I believe that suggestions of a Chinese slowdown are premature.

 

[Edison Chen]

Guangdong or Jiangsu will surpass South Korea!!

You seen how Europeans work right? 1 Chinese worker output= 3 European, SE Asian, S.Asian worker output

True bro.

I saw this picture from Leveragedbuyout. I believe, when the most bottom Chinese workers get more education and expertise, their output per capital will be shockingly insane because we are more hardworking.

 

[welcomeJason]

China adjusts GDP revision, output equivalent to Malaysian economy

Published: December 19, 2014 10:50 AM

BEIJING, Dec 19 — China revised the size of the economy by US$308.8 billion (RM1.073 trillion), adding almost the entire output of Malaysia.

The gross domestic product of the world’s second-largest economy was 58.8 trillion yuan in 2013, according to the results of a nationwide economic census announced today. That’s 3.4 per cent larger than the previously reported figure. Malaysia’s 2013 GDP was US$312 billion.

The size of the revision was smaller than the last time China performed the calculation, in 2008, reflecting more accurate counting of a rapidly expanding services industry. The larger GDP makes China’s debt look smaller by comparison, which may give policy makers more room to maneuver as they seek ways to bolster growth set to be the lowest since 1990 this year.

“China is using an upgraded methodology and the results should be taken seriously,” Daniel Rosen and Beibei Bao at Rhodium Group wrote in a research note last week.

The economic census is conducted about every five years to gather information on the manufacturing and services industries. Over 10 million businesses and about 60 million enterprises were visited early this year by about 3 million census takers, according to the official Xinhua News Agency.

The past two censuses led to a 16.8 per cent boost to 2004 GDP size and a 4.4 per cent increase in 2008. Ma Jiantang, the head of the National Bureau of Statistics, had said Dec. 16 that China would revise 2013 GDP upward by “a bit more” than 3 per cent.’’

A Bloomberg survey of 12 economists showed a median forecast of 1 per cent to 3 per cent for the revision to 2013 GDP. — Bloomberg

The larger GDP makes China’s debt look smaller by comparison。。。掩耳盗铃吗？流通性都不够，银行借贷那么紧，物价一直在飚，都说要通缩了，地方债那么高，钱都去到哪了。。。我们学校多建设一个塑胶跑道就要2千万，2千万够修十个了，弄得学校外债都上亿，钱都去哪了，难道都藏在市长省长家床下面还是被洗到米国加拿大了？？

 

[Huaren]

I just wonder why China only takes few weeks to calculate GDP, while Germany few months, considering the latter is much smaller and more technologically advanced? You only need a year to build a nuclear powered aircraft carrier while even a superpower America more than 5 years. Seems China is a superman superpower now.

Congrat! I put my hat down before CCP.

If you are talking about Germany for being more technologically advanced and/ as being efficient in compare with China then you have failed to grasp the current reality, as at some point in the past that might have been the suitable description for Germany, for generations its been falling more and more to the direction of stagnation. Eventhough It might be true that Germany is still the most efficient power in western europe.

 

[welcomeJason]

Guangdong or Jiangsu will surpass South Korea!!



True bro.

I saw this picture from Leveragedbuyout. I believe, when the most bottom Chinese workers get more education and expertise, their output per capital will be shockingly insane because we are more hardworking.

不要自作多情，more education。。。中国控制工资上涨，就是想人口红利再延迟几年结束，这么大的人口红利全进了企业主，资本家和政府的钱包。。。伤心的底层人民。。。

 

[Huaren]

The larger GDP makes China’s debt look smaller by comparison。。。掩耳盗铃吗？流通性都不够，银行借贷那么紧，物价一直在飚，都说要通缩了，地方债那么高，钱都去到哪了。。。我们学校多建设一个塑胶跑道就要2千万，2千万够修十个了，弄得学校外债都上亿，钱都去哪了，难道都藏在市长省长家床下面还是被洗到米国加拿大了？？

起码在国内还能修的起来，在西欧这里有钱都没用，各方牵制什么都做不了，所谓的民主社会。