PMI Economic Data Show Disputes &Nbsp; Agencies "Lose Their Way"

At the beginning of the new year in 2012, the National Bureau of statistics and the China Federation of logistics and purchasing (Chinese mining Federation) were in the manufacturing industry.

Reporters learned from all sources that in the specific production process of PMI, the Chinese mining Federation used the channels of the National Bureau of statistics to distribute questionnaires to the surveyed enterprises. Then the collection of the questionnaires, the removal of seasonal factors and the generation of data were completed by the National Bureau of statistics.

After receiving the data, the China mining union can determine the authenticity of the data. If there are any problems, it will communicate with the National Bureau of statistics, but if there are no problems, it will start.

The data show that PMI is one of the internationally leading indicators of macroeconomic monitoring and plays an important role in monitoring and forecasting national economic activities.

At present, there are two PMI in the Chinese market, one is the joint publication of the National Bureau of statistics and the China Mining Federation (Note: the official website of the National Bureau of Statistics). It is regarded as "official PMI" and the other is issued by HSBC China, regarded as "folk PMI".

The former focuses on state-owned enterprises, while the latter focuses on small and medium-sized enterprises.

Coincidentally, the National Bureau of statistics and the China National Mining Association (PMI) in January 5th, before the "mutual pinch" of the Manufacturing Purchasing Managers Index (PMI), the famous domestic commodity data trader 100ppi.com (Bulk) announced the release of "Bulk Commodity Index BCI" in Shanghai.

According to the business side, the BCI index can be established by monitoring the price fluctuation of the 100 basic raw materials, which are the most upstream, the largest and the most widely used, and can reflect the change and trend of the monthly supply and demand more directly and quickly, thus reflecting the economic operation of the manufacturing industry.

According to the reporter, this is the first commodity index in China. The index publisher hopes to become an important indicator of the manufacturing industry and a barometer of macroeconomic changes. The monthly BCI index can provide important reference value for professional institutions and personages such as industry chain, futures and securities investment.

It is reported that the business community tracking the spot, futures and electronic disk prices of more than 500 commodities, including the energy, chemical, rubber, plastic, nonferrous metals, steel, textile, building materials, agricultural and sideline industries related to the national economy, covering the market situation of more than 8000 raw material production enterprises, more than 20000 circulation enterprises and 12 000 downstream enterprises, deeply analyzing the causes of price changes and all aspects of the dynamics, and predicting the future trend of authority, making guidance for the production and operation of enterprises.

At the same time, it also covers the more than 20 futures markets in the world, such as the New York Mercantile Exchange and the Shanghai Mercantile Exchange, and more than 200 domestic electronic trading markets.

In this regard, Liu Xintian, chief analyst of China Commodity Research Center, said: "in the economic field, people have been looking for an indicator to reflect the operation of the macro-economy and the prosperity of the manufacturing industry in a timely, accurate and comprehensive manner. PMI is one of them.

PMI has scientific nature through the monitoring of the operation of hundreds of typical enterprises, while BCI is based on monitoring the price fluctuation of eight industries and 100 basic raw materials in the upper reaches of the manufacturing industry.

Therefore, PMI not only reflects the prosperity of the manufacturing economy, but also has a quicker precedence than other similar indicators.

Commodity supply and demand index (BCI) has four characteristics: Science, simplicity, reality and real-time.