1 STESWP 2006 China – Current status of knowledge of STS in China

2 Overview The need for internationally comparable Chinese short-term economic statistics is increasing, both from internal and external users. The Chinese authorities are aware of the demand and in recent years have expanded the range of STES. But more work needs to be done on both increasing the STES available and transparent metadata.

3 Available STES While we do collect a number of STES from the Chinese, there are issues with the compilation methods, frequency of the statistics, and available metadata. There is an opportunity for the Chinese authorities to publish their STES more widely. The biggest issue is the international comparability of the Chinese STES.

4 Key STES Developments Required Quarterly and more comprehensive (not cumulative) balance of payments and national accounts data. There is a real and urgent need for labour statistics that fit into the short-term economic statistics framework. Indexes on a level basis rather than the current SPPY basis – consumer and producers prices, and production.

5 Going Forward All the information gathered to date on Chinese statistics will be formalised and it is envisaged that a mission to China will be undertaken later this year to speak with the Chinese authorities providing official Chinese statistics about the issues discussed. A Chinese national accountant will complete a four month secondment in STD beginning in September, she has already been provided with a list of questions from the STES division and is expected to answer these in her time here.