GDP calculation

CHINA will introduce unified regional calculations of gross domestic product (GDP) to enhance the accuracy of the results, the National Bureau of Statistics (NBS) said Sunday.

The new accounting system will take effect while calculating last year’s annual regional GDP, said Ning Jizhe, head of the NBS, at a work conference in Beijing. Since 1985, the NBS has been in charge of overall GDP calculation, while provincial-level regions have calculated their own regional GDP separately. However, the aggregate of regional GDP frequently exceeds the national total unveiled by the bureau due to different accounting methods, according to the bureau. After the reform, the NBS will lead the unified accounting of regional GDP by conducting unified accounting procedures and result releases.

Revenue increase

BEIJING’S Zhongguancun, known as China’s “Silicon Valley,” recorded a remarkable yearly increase of 13.8 percent in its revenue in the first 11 months of 2019.

According to the latest data released by the Beijing Municipal Bureau of Statistics, revenue from the science park’s high-tech enterprises above a designated size exceeded 5.43 trillion yuan (US$779 billion) in the January-November period.

Heavy truck sales

SALES of heavy-duty trucks last year hit a fresh record of 1.17 million units in China, up 2 percent year on year, data from an auto industry data provider showed.

In December, around 90,000 heavy trucks were sold, up 9 percent year on year, exceeding industrial expectations, according to a report from cvworld.cn. The sales rose for six consecutive months in the second half.