September 29, 2017 / 11:15 AM / in a year

China adds bike-sharing, robot making in revised industrial classification standard

BEIJING (Reuters) - China has included a flurry of high-tech and “new economy” industries such as robot manufacturing and bike-sharing services to its new national industrial classification standard to better reflect its industrial upgrade and moves toward services.

The new Industrial Classification for National Economic Activities (ICNEA), which takes effect on Oct.1, is used in classifying business establishments and other statistical units by the type of economic activity they engage in.

The additions include 286 new segments in 13 basic categories, such as biofuel and smart car manufacturing, and food delivery and apartment-sharing services.

China’s “internet economy and modern services have boomed and many new industries and new form of businesses have blossomed”, said Xian Zude, the deputy bureau chief at the National Bureau of Statistics (NBS).

“The older version of the classification could no longer accurately reflect the development of our new industries,” he said on the NBS website on Friday.

The ICNEA was last updated in 2011.

The revision will be adopted for the 2017 yearly report and 2018 periodical surveys by the NBS, Xian added.

Reporting by Yawen Chen and Ryan Woo; Editing by Clarence Fernandez

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