SHANGHAI, April 15, 2016 (Xinhua) -- This aerial photo taken on March 29, 2016 shows a view of the free trade zone in Shanghai, east China. China's GDP stood at 15.9 trillion RMB yuan (2.4 trillion U.S. dollars) in the first quarter this year, growing up by 6.7 percent year on year, the National Bureau of Statistics said on April 15, 2016. (Xinhua/Ding Ting)
BEIJING, July 5 (Xinhua) -- China's National Bureau of Statistics (NBS) has begun using a new method of calculating GDP that it says "better reflects the contribution of innovation to economic growth."
Research and development expenditure that can bring economic benefit to companies will no longer be calculated as intermediate consumption, but as fixed capital formation, the NBS said in a statement.
It will use the method for future GDP calculations, and has also recalculated all the figures dating back to 1952.
Recorded GDP growth rates have changed slightly as a result. For instance, the growth rate for 2015 remained at 6.9 percent, revised up by 0.04 percentage point.
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