China adds healthcare, new economy to GDP calculations
Move marks first revision to method in fifteen years
In a move aimed at accommodating “new changes” in economic activity, China has revised the official method for calculating GDP, pubishing official responses to questions about the move on Friday.
The new method comes more than a decade after the last revision in 2002, and seeks to better capture fast developing segments of the economy.
Published (link in Chinese) on the website of the National Bureau of Statistics, answers from a representative of the State Council said the new calculations will include data from healthcare, tourism and strategic emerging industries.
While the press release indicates the new method has gone into effect, it is not clear whether it will be reflected in the second-quarter GDP data to be released Monday.