Beijing: China’s gross domestic product (GDP) turned out to be 3.4 percent larger last year than originally announced, the government said on Friday after a national survey — a revision equal to about the size of Malaysia’s economy.
The world’s second biggest economy was valued at 58.80 trillion yuan ($9.5 trillion currently) in 2013, the National Bureau of statistics (NBS) said in a statement, quoting a survey of 70 million businesses across the country.
The amount is 1.92 trillion yuan ($308 billion) more than the official figure released in January, the NBS said.
Malaysia’s GDP was $313 billion last year, according to the World Bank.
Despite the revision, China’s economy is still far smaller than that of the United States, where GDP was $16.8 trillion last year, World Bank data shows.
The change was a result of China’s third “national economic census”, which is carried out every five years and focuses on industry and services to provide up-to-date figures for government policy making.
The latest survey was conducted from the beginning of this year for three months by three million personnel, the NBS said previously.
The bureau said in a separate statement the revision “basically will not affect” the economic growth rate for this year, which is to be released next month, because the calculation is based on “comparable data”.
China’s economy grew 7.3 percent in the third quarter, the slowest since the height of the global financial crisis in early 2009.