China May Boost GDP By Including R&D In Calculation
Debates over whether China's GDP will decline gradually or fall off a cliff have been going on for well over a year, but it could get a large, unexpected boost next year as China’s National Bureau of Statistics (NBS) is considering a change to its methodology.
“The NBS is planning to reclassify R&D as gross fixed capital formation rather than its current treatment as ‘intermediate consumption’. According to the NBS, expenditure on R&D was RMB1.2tn in 2013 . . .
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