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Practices and Challenges In compiling Institutional Sector Accounts In China

This article discusses the practices and challenges associated with compiling institutional sector accounts in China, including the classification of tables, source data, methodology, and main problems encountered. It also addresses the compilation of balance sheets and the issues faced in this process.

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Practices and Challenges In compiling Institutional Sector Accounts In China

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  1. Practices and Challenges In compiling Institutional Sector Accounts In China Faqi SHI Dept. of National Accounts, NBS

  2. Contents • FOF tables and institutional sector accounts • Balance sheets

  3. I. FOF tables and institutional sector accounts • Started to compile from 1992 --- physical transaction tables (1992-2008) --- financial transaction tables (1992-2009) • Improvement on methodology • Time lags of releasing FOF tables --- physical transaction tables, 2 years --- financial transaction tables, 1year

  4. I.FOF tables and institutional sector accounts • Classification of FOF table in China ---Domestic institutions: non-financial corporations sector financial corporations sector general government sector households sector ---the rest of the world *non-profit institutions serving households

  5. I.FOF tables and institutional sector accounts • Institutional sector accounts ---domestic sector accounts and the total economy accounts the production account the distribution and use of income account the capital account and the financial account ---the rest of the world the current account the capital account and the financial account

  6. I.FOF tables and institutional sector accounts • Source Data --- the statistical data --- administrative records --- final financial statements of the NBS system --- final financial statements of relatedministries of the State Council • compiling methods --- direct calculation combined with indirect estimation

  7. I.FOF tables and institutional sector accounts • Main problems --- big gap of data sources in the non-economic-census years --- improperly calculatednet taxes on production --- underestimation of the social subsidy expenditures --- the dividends of non-listed corporations are not covered --- inconsistency of net financial investment --- indicators of the institutional sector accounts are too aggregated

  8. II. Balance Sheets • Started to compile from the late 1990s • Classification of institutional units --- the same as FOF tables

  9. II. Balance Sheets • The main problems --- Big gap of data sources in the non-economic-census years --- No revaluation measures are introduced for assets. --- Some stock items in balance sheets are not consistent with the corresponding flow items.

  10. Thank you!

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