China releases document to clarify statistical standards for five financial sectors

China issued a document to clarify the statistical standards for five financial sectors in its latest efforts to achieve full coverage of statistical data, the People's Bank of China (PBOC) announced on Tuesday.

The document, issued by the PBOC in collaboration with the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange, said that high-quality statistical data support is required for technology finance, green finance, inclusive finance, pension finance, and digital finance.

The document focused on standardizing the statistical entities, scope, indicators, methodologies, identification criteria, data collection, sharing, publication, and division of responsibilities among the departments concerning these sectors.

Experts believe that establishing comprehensive and standardized statistics for these financial sectors will provide strong support for the precise implementation of various policy tools.

This year's government work report notes that China will improve the standards and foundational institutions for technology finance, green finance, inclusive finance, pension finance, and digital finance. ■