Press Release: The People's Republic of China Subscribes to the IMF’s Special Data Dissemination Standard
IMF News, October 7, 2015
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Bibliographic details
- Published: October 7, 2015
Key announcement
- Date: October 7, 2015
- Press Release No.: 15/466
- The People’s Republic of China subscribed to the International Monetary Fund’s Special Data Dissemination Standard (SDDS).
- Statement of purpose: Participation in the SDDS is expected to enhance a country’s availability of timely and comprehensive statistics and contribute to the pursuit of sound macroeconomic policies.
Official statements
- David Lipton, First Deputy Managing Director of the IMF: “The subscription to the SDDS underscores China’s strong commitment to transparency as well as to the adoption of international best practices in statistics.”
- Yi Gang, Deputy Governor of the People’s Bank of China: “China and the IMF have been working together to improve China’s statistics for many years and subscribing to the SDDS is another milestone of this fruitful and important collaboration. We are committed to further strengthening our statistical system and enhancing transparency, as this is not only crucial for our own policy making, but also beneficial for a better understanding of the Chinese economy by the outside world.”
Context and implications
- China’s prior participation: China has participated in the IMF’s General Data Dissemination System (GDDS) since 2002.
- Graduation: China is the 14th country to graduate to the SDDS from the GDDS.
- Subscribers: China’s participation brings the number of subscribing economies to 65.
- Expected effects:
- Enhanced availability of timely statistics.
- Contribution to sound macroeconomic policies.
- Improved functioning of financial markets through better data dissemination.
About the SDDS
- Establishment: The SDDS was established by the IMF in March 1996.
- Purpose: To guide members in the provision of economic and financial data to the public.
- Four dimensions of data dissemination identified by the SDDS:
- data coverage, periodicity, and timeliness;
- access by the public;
- the integrity of the data;
- data quality.
- Nature of subscription: Voluntary; a subscribing member commits to observe the standard and to provide information (metadata) to the IMF about its data dissemination practices.
- Dissemination of metadata: Information provided by subscribing members is made publicly available on the IMF's Dissemination Standards Bulletin Board (DSBB).
Implementation and documentation
- The DSBB now provides comprehensive documentation in English on the statistical practices of China for the SDDS data categories, hyperlinked to country data included in the National Summary Data Page, which is maintained by China’s National Bureau of Statistics.
- China’s SDDS information is available at: http://dsbb.imf.org/Pages/SDDS/CtyCtgList.aspx?ctycode=CHN
Contact (as listed)
- IMF COMMUNICATIONS DEPARTMENT, Media Relations
- E-mail: media@imf.org
- Phone: 202-623-7100
Source: Press Release: The People’s Republic of China Subscribes to the IMF’s Special Data Dissemination Standard — https://www.imf.org/en/news/articles/2015/09/14/01/49/pr15466