IMF and National Bureau of Statistics of China Sign New Memorandum of Understanding on Statistical Cooperation

Beijing, China: The International Monetary Fund (IMF) and the National Bureau of Statistics (NBS) of China have signed a new Memorandum of Understanding (MoU), building on a previous MoU signed in November 2023, to strengthen cooperation on national accounts methodology, macroeconomic statistics, and statistical modernization.

The MoU provides a framework for collaboration on implementation of the 2025 System of National Accounts (2025 SNA), including work on the measurement of the digital economy, artificial intelligence (AI), cloud computing, digital intermediation platforms, and data as an asset. Under the new MoU, cooperation will also expand to broader areas introduced in the updated international statistical standards, including globalization, economic wellbeing and environmental sustainability.

The IMF and NBS also agreed to deepen technical collaboration to strengthen the consistency and integration of macroeconomic statistics and to advance the use of innovative data sources and analytical approaches. The agreement includes collaboration between the IMF Big Data Center and the NBS Big Data Application Center, which hosts the United Nations Global Hub on Big Data and Data Science for Official Statistics.

Cooperation under the MoU will take place through high-level visits, expert consultations, technical workshops, joint analytical work, and exchanges on statistical practices and methodologies. The agreement will support continued sharing of international experience and promote the quality, transparency, and comparability of official statistics.

The new MoU will take effect in December 2026, after the current MoU period concludes, and will remain in effect through December 2029.