Deflating China's nominal GDP: 2004–2018
用双重缩减增加值法和支出法缩减中国2004-2018年名义GDP，发现实际GDP增长波动大于官方数据，通胀在繁荣期被高估、衰退期被低估，近年增长放缓可能比官方数字更严重。
This paper is a preliminary attempt to use both the value added approach with double deflation and the expenditure approach to deflate China's nominal GDP over 15 years (2004–2018). The results show that China's real GDP growth during the period has significantly more fluctuations than the official statistics indicate. Additionally, inflation, as measured by the official implicit GDP deflator, is generally overestimated during boom years but underestimated during downturn years. In particular, it is shown that China's growth slowdown in recent years before the COVID-19 pandemic may have been more severe than official figures suggest.