In July 2016, National Bureau of Statistics (NBS) of China adopted the 2008 SNA (“System of National Accounts 2008”, Commission of the European Communities - Eurostat, International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations and World Bank, 2009).

To better reflect the contribution of innovation to economic growth, and promote China's system of national accounts to be geared to new international standards, National Bureau of Statistics of the People's Republic of China(NBS) conducts reform of Research and Development expenditure treatment in national accounts according to SNA 2008. In the new standard, Research and Development expenditure which can bring economic benefit for the owners is treated as fixed capital formation rather than intermediate consumption.