BOFIT Viikkokatsaus / BOFIT Weekly Review 2016/27
Under the revised system, R&D activity is recorded following the newer international SNA 2008 standard. China’s national GDP accounting is not fully compliant with many of the newer standards. It is estimated that it still e.g. underestimates the contribution of services to the economy. The NBS recently said it was looking at ways to improve national accounting to better incorporate “new economy” branches such as biotechnology, online retail and robotics.