Bulletin on the Final Verification Data of GDP in 2011

By CnAgri Print

National Bureau of Statistics of China

January 7, 2013

In accordance with the accounting procedures of the gross domestic product (GDP), according to the 2011 Statistical Yearbook and departmental accounting, financial accounts data, on the basis of the preliminary verification, the NBS made the final verification of GDP in 2011. The results are as follows:

The total GDP at current price in 2011 amounted to 47,310.4 billion yuan, an increase of 22.2 billion yuan than the  preliminary verification number, and an increase of 9.3 percent over the previous year at constant price, which was the same with the preliminary verification number (see table below).

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Instructions on Annual GDP Accounting in China

1. Overview on Annual GDP Accounting

1.1 Basic Concepts

Gross Domestic Product (GDP) refers to the final products at market prices produced by all resident units in a country (or a region) during a certain period of time. GDP is the core indicator of the national accounts, and also an important indicator to measure the economic conditions and the level of development of a country or region.

In the practice of national accounting, gross domestic product is calculated from three approaches, namely production approach, income approach and expenditure approach, which reflect gross domestic product and its composition from different angles. Production approach refers to the method production point of view of, measuring total output value of all sectors of the national economy in a accoun