Abstract
The application of a Business Climate Index (BCI) in China started in the 1980s. In terms of the current situation, a number of governmental organizations, research institutions, universities, and NGOs are working on the monthly monitoring and tracking of China’s business climate, which provides an important reference for the analysis and forecasting of the country’s economy. As a developing nation, China is constantly changing in its economic system, structure, and characteristics, and thus its BCI must be simultaneously updated according to actual economic situations. This paper uses a BCI constructed by the State Information Center (SIC) of China as an example to introduce the application of the BCI in China.
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Notes
- 1.
K-L divergence is commonly used to judge the proximity of two probability distributions. Smaller K-L divergence means higher proximity of two distributions.
- 2.
For current modification of this method, see Ozyildirim (2018).
- 3.
Notice that the categorization of China’s three industries is slightly different from that of the other countries: The primary industry is related to agriculture, forestry, animal husbandry, and fishery, while the secondary industry comprises mining, manufacturing, electricity, gas and water production, the supply, and construction industries; the tertiary industry accounts for the rest.
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Liu, Y. (2019). Business Climate Indices in China. In: Smirnov, S., Ozyildirim, A., Picchetti, P. (eds) Business Cycles in BRICS. Societies and Political Orders in Transition. Springer, Cham. https://doi.org/10.1007/978-3-319-90017-9_24
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DOI: https://doi.org/10.1007/978-3-319-90017-9_24
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