In a recent statement, the International Monetary Fund (IMF) announced the signing of a new memorandum of understanding with China's National Bureau of Statistics. This agreement is designed to enhance cooperation in the areas of national economic accounting methodologies, macroeconomic statistics, and statistical modernization.

This new memorandum builds upon a previous one that was signed in November 2023.

The scope of the collaboration has been broadened to encompass a wider range of fields, including globalization, economic well-being, and environmental sustainability.

Furthermore, both parties have agreed to deepen their technical cooperation to improve the consistency and integration of macroeconomic statistical data. They also plan to advance the application of innovative data sources and analytical methods.

The cooperation will be carried out through various channels, such as high-level reciprocal visits, expert consultations, technical seminars, joint analytical projects, and the exchange of statistical practices and methodologies.

The new memorandum of understanding is set to take effect in December and will remain valid until the end of December 2029.