China steps up economic monitoring, looking to head off worst-case scenarios
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The National Development and Reform Commission (NDRC) is soliciting studies to assess the impacts of US tariffs and to refine China's existing monitoring indicators 'in the context of global economic and trade order restructuring'.
It also plans to evaluate how non-tariff barriers of various countries might impact China's economy, according to a notice published on its website in late June.
From the central bank to the commerce ministry, China already employs a vast system to monitor its economic health. However, the NDRC's fresh push signals the desire for a more nuanced and forward-looking approach as it helps draft the country's 2026-2030 development blueprint.
'This might need to be of higher frequency and more capable of reflecting the real economy,' said Shao Yu, director of the Shanghai Institution for Finance and Development.
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Shao expects that changes to the economic-monitoring system will help China better navigate the volatility and competition that he expects to intensify in the future.
'While existing systems might focus on indicators such as trade balances and financial market volatility, future systems will likely dive deeper into supply-chain security, technology, and monetary stability,' he said.
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