China and IMF work together to strengthen statistics in economic analysis and policy
| Author | IMF Statistics Department |
| Pages | 356-357 |
Page 356
As part of the technical cooperation program between the IMF and China, the IMF’s Statistics Department, together with the People’s Bank of China and the Ministry of Finance of China, held two training seminars simultaneously in China and in Washington, D.C., during the last two weeks of August. The seminars were funded jointly by the Chinese authorities and Japan’s administered account, under which Japan contributes to the IMF’s technical assistance activities.
The seminar on macroeconomic statistics for users, which was held in Chongqing, China, on August 29–31, was the first training activity in statistics under the auspices of the recently established Joint China-IMF Training Program. The seminar, first proposed by a multisector statistics mission that visited Beijing in 1998, was aimed at Chinese agencies involved in producing and using macroeconomic statistics. The objective was to introduce high-level officials to the uses of macroeconomic statistics in economic analysis and policy formulation by highlighting the role of sound statistical frameworks and the statistical linkages among the various economic sectors. Thirty officials representing 11 Chinese government agencies involved in data compilation and policy issues attended the seminar, which received strong support from the Chinese authorities. The seminar also received wide media coverage—on the front page of China Financial News, on China Xinhua News Agency’s Chongqing website, and on prime-time local TV—all emphasizing the importance of producing macroeconomic statistics in accordance with international standards and the crucial role of these statistics in policy decision and formulation.
The three-day seminar opened with a lecture by Carol Carson, Director of the IMF’s Statistics Department, on data quality and Chinese statistics. This set the stage for subsequent lectures and discussions on national accounts, including measures of GDP and prices, balance of payments, government finance, monetary statistics, the linkages among the four macroeconomic accounts, and the uses of these statistics for policy analysis and formulation. Many participants noted that the seminar had increased their familiarity with and appreciation of macroeconomic statistics and underlined the importance of compliance with internationally recognized standards and methodologies...
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