Author(s)

Hongfei Zhang ¹

Affiliation(s)

¹ Junan County Bureau of Statistics, Linyi, Shandong, 276600, China

Corresponding Author

Hongfei Zhang

ABSTRACT

The establishment of the GDP accounting system is to better count the weights of various indicators. However, with the reform or improvement of the GDP accounting methods that affect the economic formation in the process of social and economic development, the National Bureau of Statistics has carried out a series of reforms on the GDP accounting methods in recent years. Although there is still a certain gap with the international standard of GDP accounting, it can basically reflect the proportion and weight relationship of China's high-quality economic development. This paper is based on several key variable indicators of the latest GDP accounting method: 1. disposable income of urban residents, 2. disposable income of rural residents, 3. total export, 4. fiscal expenditure, 5. tax revenue, 6. investment in fixed assets, 7. total retail sales of social consumer goods, 8. urban unemployment rate, 9. added value of industries above national scale, 10. total population, 11. expenditure for research and experimental development of the whole society. This paper also carries out AHP multi-level analysis. Based on the accuracy of data sources, the data in China Statistical Yearbook 2021 issued by the National Bureau of Statistics in 2021 shall prevail. Thus, it is concluded that the total export, the total retail sales of social consumer goods, and the expenditure of research and experimental development of the whole society are the top three in terms of weight. It can be seen that high-quality economic development is inseparable from foreign trade, domestic demand and investment in science and technology.

KEYWORDS

GDP accounting, High quality economic development, AHP multi-level analysis

CITE THIS PAPER

Hongfei Zhang, How to Promote High-Quality Economic Development by Reforming GDP Accounting Methods. Financial Engineering and Risk Management (2022) Vol. 5: 27-35. DOI: http://dx.doi.org/10.23977/ferm.2022.050505.

REFERENCES

[1] Feng Ke. Economic analysis of data production factors in the era of digital economy. Journal of Beijing Industrial and Commercial University (SOCIAL SCIENCE EDITION), vol.37, no.01, pp.1-12, 2022.
[2] Xu Xianchun, Wang Yang, Liu Wanqi. GDP accounting reform and economic development. Economic Aspect, no.10, pp.71-72, 2020.
[3] Xu Xianchun. Major supplement and revision of historical data of China's GDP accounting. Economic Research, no.4, 2021.
[4] Xu Xianchun, Zhang Meihui, Zhang Zhongwen. Digital transformation and the challenge and innovation of economic and social statistics. Statistical Research, no.1, pp.102-103, 2021.
[5] Compiled by the National Bureau of Statistics: China Statistical Yearbook - 2021 website: (stats.gov.cn)
[6] Jin Xinghua, Yan Jinqiang. Crux and breakthrough path of China's green GDP accounting dilemma -- from the perspective of negative value. Lanzhou Academic Journal, no.09. pp. 17-19, 2019.

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