Over the years, Fathom Consulting has created a wealth of proprietary indicators, many of which originate from bespoke consultancy projects and provide unique insight into an economy. Recently, a snapshot of those proprietary indicators has been released on Refinitiv’s Chartbook, supplementing those already available, such as our measure of China’s underlying growth rate, our China Momentum Indicator 3.0.
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At Fathom Consulting we have long been dubious of official data reported by China, and that is why we do not take the headline numbers as given, instead building our proprietary indicators from the bottom up where possible. Our latest purpose-built database, Fathom’s RiCArdo, helps examine China’s progress in transforming its enormous manufacturing base into the high-tech powerhouse that President Xi desires — his Made In China 2025 plan — by assessing specialisms relative to the rest of the world.
Some of the information from this database is now available on Chartbook, including that shown above. As you can see, our estimate of China’s high-tech sector export share is far lower than the official measure from the National Bureau of Statistics, or the suspiciously close World Bank measure. We believe that the official measure flatters the true picture, with some of its sub-components not in line with official documentation about the types of high-tech goods targeted by Xi’s Made In China plan.
This chart, and other China-specific data using our proprietary RiCArdo database, are now available on Chartbook, under Fathom Financial Consulting. If you are interested in our global dataset, which provides detailed trade data for over 200 other countries and regions, please contact leara.gabay@fathom-consulting.com.
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