Impact on China's Economic Policy of Statistics Revision of National Economy

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EXECUTIVE SUMMARY

This paper examines China's economic statistics revision in 2004, subsequent economic profile of the nation, and analyzes the impact of the statistics revision on the national economic policy, including macro economic policy, economic structural adjustment, interest rate, foreign trade, and exchange rate reform.

Keywords: Economy; Statistics; Secondary; Tertiary

1. THE BACKGROUND OF THE ECONOMIC SURVEY

1.1 The Background of the 2004 Survey

China launched its nationwide economic census in 2004 with the purpose of identifying the national scale, structure and productivity of the secondary and tertiary industries, and develop a national economic database. The census engaged the units of legal persons of the secondary and tertiary industries. The survey content includes the firm attributes, employees, financial situation, ability to produce operation, production, raw materials, energy consumption, scientific and technological activities situation, etc.

From 1994, China began to practice the periodic general survey system, regularly counting the basic data such as national population, agriculture, industry, the tertiary industry and base unit, etc. However, in actual general survey, except what has relatively generally investigated population regularly systematically, to the general survey of economy, no matter in general survey cycle or on the transparency of the data, there are obvious defects. These make national economy policy and analyze the relation between every variable of economic development of China lacks the actual basis, cause mistake of decision analyzes.

China has ever done industrial general survey for three times since 1953. Recent times had made the general survey of the base unit in 1994, 1996 and 2001. China carried on the general survey to the tertiary industry in 1993. The second national tertiary industry general survey which developed originally in 2003, postponed because of the SARS epidemic situation occurrence. So the survey in 2003 merged with the fourth national industry general survey in 2005 and also merged with the third national fundamental unit general survey in 2006. Simultaneously the general survey scope also brings into line with the architecture industry. The first national economical general survey started at 2004 December 31st as the standard point in time. We can say that. The general survey in 2004 was the widest on the coverage rate comparing to previous general survey Look from the project of this general survey, main project such as raw material and energy consumption and technical development investment all are the first time carries on the widespread investigation in the nation. The investigation to individual engaged in commerce is also the most comprehensive one since 1993. The country hopes to finds out the family property through the general survey, and establishes a macro-scientific policy-making platform. At the same time, also can makes the explicit reply to many Chinese and foreign scholars' suspicion which reflected on the Chinese economical scale statistical figure authenticity for many years.

Soon it will carry on the second national agriculture general survey in 2006, which will consummate all aspects of economic structure present situation of our country. China had carried on the first agricultural general survey in 1997. China will carry on the second national agriculture general survey in 2006, which will involve more than 30,000 villages and towns, more than 600,000, Village commission more than 200 million peasant households and large numbers of agricultural productions manages and serves unit. The standard time of the general survey is from January 1 to December 31 in 2006, and the standard time point is on December 31, 2006. The general survey registration work starts in January 1, 2007, and the period will last for approximately a month. Therefore, the announcement time of the general survey data should be around the end of 2007. …