A joint project to improve the
accuracy of statistics on China's fast-growing service sector is
set to start soon.
The project, which will cost about US$750,000, will be jointly
funded by the National
Bureau of Statistics (NBS) and Asian Development Bank (ADB). It
will last for three years and is due to end in June 2006.
The ADB has agreed to contribute US$450,000 to the survey, a bureau
spokesman said. The rest will come from the Chinese Government.
The pilot survey will serve as the
basis for a nationwide survey, the results will be used to revise
national account estimates.
Bruce Murray, country director of ADB's China Resident Mission,
said despite the progress achieved in reforming the statistical
system, the accuracy of some of China's statistics have been
questioned.
"One of the lessons learned from the SARS outbreak was the
importance of a good communications strategy during crises, which
is based on transparent, accurate information," he said.
"Initiatives to strengthen the statistical system and to improve
the accuracy of official statistics need to continue, a process
that ADB is supporting."
The project will help the NBS better measure the economic impact of
services, and build capacity in its National Accounts
Department.
Recent government reforms have resulted in a rapid expansion of
services, especially in information and communication technology,
financial and banking, real estate, and environmental and tourism
services sectors, Murray said.
Bishnu Pant, ADB principal statistician, said current official
estimates of output and added value in the services sector may be
significant underestimation.
"This underestimation, due to incomplete coverage and underpricing
of services such as housing, public schools, and public
transportation, is a major constraint in accurately estimating
gross domestic product in China," Pant said.
(China Daily August 6, 2003)