Guangdong Industry and Information Technology Office explains why Guangdong PMI has been suspended: as required by the National Bureau of Statistics

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 Guangdong Industry and Information Technology Office explains why Guangdong PMI has been suspended: as required by the National Bureau of Statistics


Peng Mei News noted that on the website of Guangdong Provincial Bureau of Industry and Information Technology, the latest data of Guangdong Province PMI is September data released on October 1, and October and November data are not released.

Guangdong Provincial Bureau of Industry and Information Technology responded

In response, the table of the Guangdong Provincial Bureau of Industry and Information Technology said that at the end of October, the Guangdong Provincial Bureau of Industry and Information Technology received a notification from the National Bureau of Statistics that the PMI survey should be conducted under the unified arrangement of the National Bureau of Statistics, and that no PMI survey should be conducted until a valid table number has been obtained. In accordance with the requirements of the National Bureau of Statistics, the Guangdong Provincial Bureau of Industry and Information Technology has stopped compiling and distributing the Guangdong Provincial Manufacturing Purchasing Manager Index (PMI) since November.

Statistical experts told Pengchao News that according to the regulations of the National Bureau of Statistics, local PMI is generally responsible for the investigation team of the National Bureau of Statistics, while the valid form number means that the survey should apply for approval from the National Bureau of Statistics, and those without approval are illegal investigations.

Before the announcement of provincial PMI was stopped, Guangdong Province was the only province in the country where provincial PMI was compiled and distributed by provincial economic and credit departments. In 2018, according to the requirements of the institutional reform program, Guangdong Economic and Information Commission was renamed Guangdong Industry and Information Technology Department.

Guangdong Province has released its PMI index since 2011. At that time, the Guangdong Economic and Credit Commission and the Guangdong Provincial Supervision Office took the lead in establishing a joint meeting system for 1,000 key enterprises in the province, using this platform to monitor the industrial, commercial and economic development of the province. On the basis of this platform, the Guangdong Provincial Economic and Credit Commission and Sun Yat-sen University developed the Guangdong Provincial Manufacturing Purchasing Manager Index (PMI), which was the first in the national credit system at that time.

Since December 2011, the Guangdong Provincial Economic and Credit Commission has issued the Manufacturing Purchasing Manager Index (PMI) on the first working day of each month.

Prior to this, Guangdong Economic and Credit Commission issued a PMI of 49.3 in August on September 1, 2018, down 0.9 percentage points from the previous month and 1.6 percentage points from the same period last year. This is the first time that the PMI index of Guangdong Province has fallen below the Rongkui Line for 29 consecutive months after being above the Rongkui Line (50.0).

Chen Hongyu, a specialist in interpreting the PMI index of Guangdong Province and a professor at the Party School of the Provincial Party Committee, explained that most manufacturing enterprises in the province had reduced their production for several months in succession, leading to a gradual increase in raw material inventories. The reasons for this round of consolidation, which lasted from May this year to now, are rather complicated, including the problem of inadequate continuation of new and old momentum in the process of domestic industrial transformation, and the negative impact of sharp changes in international economic and political factors.

Since then, the PMI of Guangdong Province in September 2018 was 50.2, up 0.9 percentage points from August, and returned to the line of prosperity and decline.

At present, Chinas official PMI is issued by the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

Source: Peng Mei News Responsible Editor: Li Hang_BJS4645