Sources: Wikipedia Wiki.answers.com YAHOO!ANSWERS Google-Answers China Wiki-China Wiki-Answers China China.com Xinhua News People Daily Sina.com In 1986, Dr. Fengbo Zhang headed the key research project of the seventh Five-Year Plan of China, completed and published the first China GDP. This research also compared Western SNA and Soviet Union's MPS two systems. China issued “The notice regarding implementation of System of National Accounting” , the Western SNA system officially is introduced to China, replaced Soviet Union's MPS system, Western economic indicator GDP became China’s most important economic indicator. In 1985, the State Council of China approved the establishment of SNA (System of National Accounting), using GDP (Gross Domestic Product) to measure the national economy. China began studying the theoretical foundations, guidelines, and accounting models for establishing a new system of national economic accounting.
In 1986, Dr. Fengbo Zhang, the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, headed Chinese Macroeconomic Research, the key research project of the seventh Five-Year Plan of China, and also completed and published the first GDP ever determined by China. More detailed information can be found in the book “Chinese Macroeconomic Structure and Policy” (June 1988), edited by Fengbo Zhang, and collectively authored by the Research Center of the State Council of China. This is the first set of GDP data published by China. The research utilized the World Bank’s method as a reference, and made the numerous appropriate adjustments based on China’s national condition. The GDP also has been converted to USD based data by utilizing the moving average exchange rate. The research systematically completed China’s GDP and GDP per capita from 1952 to 1986 and analyzed growth rate, the change and contribution rates of each component. The research also included international comparisons. Additionally, the research compared MPS (System of Material Product balances) and SNA (System of National Accounting), looking at the results from the two systems from analyzing Chinese economy. This achievement created the foundation for Chinese GDP research.
Fengbo Zhang’s achievement comprehensively covered China’s macroeconomy. He published more than 10 books and hundreds of reports and research papers; however, the GDP-related contents comprise only 9 pages (Chapter 2, Section 1 in the book “Chinese Macroeconomic Structure and Policy”). At early stage of China’s reform, as the forerunner of Chinese Economists, he removed himself from the traditional Chinese political economy, but he also did not attach himself solely to Western economic theory. Instead, he incorporated the essence of both theories and focused his research on the newest achievements of economic structure and policies of various countries. Basing it on comprehensive research of Chinese economic structure, operation law, and policy, he created a completely new Chinese macroeconomic analysis theory and method, unique for its usage of personal computing technology, forming a significant feature of Chinese Economics, especially economic policy research.
The June 1988 version of Fengbo Zhang’s book, “Chinese Macroeconomic Structure and Policy,” published the earliest China GDP data. Chapter 2 Section 1 of the book revealed China GDP data from 1952 to 1986 and the research results, forming the foundation for China’s GDP research. Based on this research, in 1997, the National Bureau of Statistics of China, in collaboration with Hitotsubashi University of Japan, estimated China’s GDP Data from 1952 to 1995 based on the SNA principal. When Fengbo Zhang’s GDP data and the new China GDP data are compared, both are very consistent; each year’s deviation rate is very slight, between only 0.1% and 7%.
In 1985, the State Council of China approved to establish a SNA (System of National Accounting), use the GDP to measure the national economy. China started the study of theoretical foundation, guiding, and accounting model for establishing a new system of national economic accounting. In 1986, Dr. Fengbo Zhang headed Chinese Macroeconomic Research - the key research project of the seventh Five-Year Plan of China, as well as completing and publishing the China GDP data by China's own research. The summary of the above has been included in the book "Chinese Macroeconomic Structure and Policy" (June 1988) edited by Fengbo Zhang, and collectively authored by the Research Center of the State Council of China. This is the first GDP data which was published by China. This achievement created the foundation for China's GDP research. The State Council of China issued “The notice regarding implementation of System of National Accounting” in August 1992, the SNA system officially is introduced to China, replaced Soviet Union's MPS system, Western economic indicator GDP became China’s most important economic indicator. Based on this research, in 1997, the National Bureau of Statistics of China, in collaboration with Hitotsubashi University of Japan, re-estimated China’s GDP Data from 1952 upto 1995 based on the SNA principal. Sources: WikiChina: China GDP
When comparing Fengbo Zhang’s GDP measurement in the 1980s and the GDP in 1997 by the National Bureau of Statistics of China and Japan’s cooperative research, the two are found to be very consistent; the deviation rate each year is very slight, between only 0.1% and 7%. During this period, there were many data adjustments, with weighting factors undergoing significant changes along with each years comparable price amendments, statistical method significant changes result in the substantial deviation. Even with science and technology as advanced as it is today, the single item survey is allowed at least +-3%, or a total of 6% deviation. Despite the extremely difficult conditions of a destroyed economy, blank theory, a lack of data, and simple methods in 1980s, there is so little deviation for such a long period of time and the comprehensiveness of the national economic indicator, indicates that the research conducted by Fengbo Zhang with the support of the extensive group he trained is extremely rigorous, and their result very precise. (www.people.com.cn).
This book primarily consists of articles available from Wikipedia or other free sources online. This article includes a list of China's historical gross domestic product values, the market value of all final goods and services produced by a nation in a given year. The GDP dollar estimates presented here are calculated at market or government official exchange rates and derived from purchasing power parity calculations. This article also includes historical GDP growth. In 1985, the State Council of China approved to establish a SNA, use the GDP to measure the national economy. China started the study of theoretical foundation, guiding, and accounting model etc., for establishing a new system of national economic accounting. In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Dr. Fengbo Zhang headed Chinese Macroeconomic Research - the key research project of the seventh Five-Year Plan of China, as well as completing and publishing the China GDP data by China's own research. Source: Amazon
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