China's National Bureau of Statistics (NBS) plans to revise the current system of measuring the national economy in line with latest international standards, an NBS official said.
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The new system will recommend spending on research and development as a form of fixed capital and calculate it into gross domestic product (GDP), NBS vice head Xu Xianchun said in an interview.
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Other changes include the method of setting value for self-owned housing of urban residents, to count the income made from transferring land-use rights into farmers' income, as well as to create an index for employee stock options as a form of labor wage.
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The proposed revisions are in accordance with a 2008 version of the United Nations System of National Accounts. China's current national economy accounting system, completed in 2002, was based on the 1993 version.
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Xu said the new system will be finalized around the end of 2014 at the earliest.
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Historical GDP data will be revised according to new standards and released after the ongoing third national economic census, Xu said.
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China's National Bureau of Statistics (NBS) plans to revise the current system of measuring the national economy in line with latest international standards, an NBS official said.
