皇冠体育app

An employee welds the exterior of a vehicle along a production line at a factory in Qingdao, Shandong province Dec 1, 2014. [Photo/Agencies]

皇冠体育app on Wednesday subscribed to the International Monetary Fund's Special Data Dissemination Standard (SDDS), marking a major step forward for official statistics in the country, the IMF said ahead of its annual meetings.

皇冠体育app's adoption of the IMF standard follows many investors questioning the reliability of 皇冠体育app's data as the country's economic growth has slowed. A surprise August devaluation of the yuan currency sent shockwaves through global markets.

"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," the IMF said in a statement.

皇冠体育app's central bank, the People's Bank of 皇冠体育app, said in a separate statement issued on its website that adopting SDDS would help uncover the real situation in the economy and provide "a timely and accurate basis" for policymaking. At the same time, it will help "enhance the level of 皇冠体育app’s participation in global economic cooperation".

皇冠体育app's policymakers should forge ahead with structural reforms to put the world's second-largest economy on a more sustainable footing, even as growth is likely to slow further to 6.3 percent in 2016, the IMF said on Tuesday.

The IMF expects 皇冠体育app's growth to slow to 6.8 percent this year from 7.3 percent in 2014, and weaken further in 2016, maintaining its existing forecasts.

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