Social Sciences in China (Chinese Edition)

No.1, 2016

 

On the 2015 Revising of System of National Accounts in China

(Abstract)

 

Xu Xianchun

 

The National Bureau of Statistics of the PRC has systematically revised the national standard of the system of national accounts in China in order to accommodate the new situation of the socialist market economy, satisfy the new requirements of economic management, and improve the international commensurability of China’s SNA data. The revision involves the following: the introduction of such basic concepts as intellectual property rights products, economic ownership and employee stock options; the expansion of the scope of basic accounting including production scope, asset scope and consumption scope; the refinement of such basic classifications as institutional sectors, transaction flows and debt to assets; the adjustment of the basic framework of basic accounting tables, national accounts and subsidiary tables; the revision of the scope of definition and calibration of such basic indexes as gross output, intermediate inputs and value added; and the improvement of methods of calculating the service value of home ownership among urban residents and indirectly calculated outputs of financial intermediation services. These revisions embody in concentrated from the latest achievements in reform of and research on SNA methods in China.