Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/215112 
Year of Publication: 
2020
Series/Report no.: 
CESifo Working Paper No. 8110
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
Investment statistics of the People's Republic of China are a source of many puzzles. Some investment data are of dubious quality, while the particular concepts of investment and their changing definitions over time are often poorly understood. Fixed asset investment, a remnant of the planned economy, comes with severe limitations in terms of data coverage and compilation. Detailed sector data are available, but only for a repeatedly changing subset. Gross fixed capital formation, an alternative investment measure based on the national accounts, may be more reliable but only the most aggregate data are available. The researcher or policy-maker in need of investment data encounters a veritable minefield of data issues that this paper helps navigate.
Subjects: 
fixed asset investment
gross fixed capital formation
newly increased fixed assets
national accounts
Chinese statistics
data falsification
JEL: 
E22
C82
O53
Document Type: 
Working Paper
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