National Bureau of Statistics (NBS)

The National Bureau of Statistics (NBS) is a Chinese government agency responsible for collecting and analyzing statistical data. Recently, it has been in the news due to its role in shaping China's consumer price index basket and population trends. The NBS has unveiled its composition for the first time, shifting more weight towards services and new types of consumption goods. Additionally, official data from the NBS shows a fourth consecutive year of population decline, with birth rates hitting record lows. These developments highlight the challenges facing China's economy, including deflationary pressure, declining birth rates, and struggling property markets. The NBS' data provides valuable insights into these trends, making it an important source for understanding China's economic landscape.