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G20 Data Gaps Initiative and its Implications to China
Author(s): 
Pages: 39-43
Year: Issue:  4
Journal: Xi'an Finance

Keyword:  data gapfinancial Stabilityfinancial statisticsDGI;
Abstract: The burst of the financial crisis in 2008 highlights that there exists huge information gaps among global systemically important financial institutions. Developed Countries become fully aware of the significance of timely, comprehensive and comparable data statistics standards for the global financial stability. As a result, in April 2009, G20 called on to launch the Data Gaps Initiative,which is a set of 20 recommendations on the enhancement of economics and financial statistics. At the summit meetings in 2013, G20finance ministers and central bank governors welcomed the continued progress of DGI implementation and expected that this will be achieved in 2015.The paper makes a brief introduction to the context, main content, and status of Data Gaps Initiative, and then summarizes its implications to China: helpful for achieving the goals of macro-prudential regulation, helpful for promoting the standardization process of Chinese financial data statistics, and helpful for improving analytical capability of Chinese macro economics and financial stability.
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