This data series refers to China Version 1. Two estimates are provided for China and their rationale is discussed in the Detailed Documentation. One estimate is based mostly on ICP 2005 and national growth statistics and is labeled China1. China1 does incorporate a productivity adjustment that has been applied to all countries in ICP 2005. China2 also adjusts for the urban character of its prices in ICP 2005 and also adjusts the growth rate. See more information at http://pwt.econ.upenn.edu/Downloads/pwt71/PWT%207.1%20Web.doc.
Price Level of GDP is the PPP over GDP divided by the exchange rate times 100. The PPP of GDP or any component is the national currency value divided by the real value in international dollars. The PPP and the exchange rate are both expressed as national currency units per US dollar.The value of price level of GDP for the United States is made equal to 100. Price Levels of the components Consumption, Investment, and Government are derived in the same way as the price level of GDP. While the U.S. = 100 over GDP, this is not true for the component shares. The purchasing power parity in domestic currency per $US for GDP or any component, may be obtained by dividing the price level by 100 and multiplying by the Exchange Rate. More information is available at http://pwt.econ.upenn.edu/Documentation/append61.pdf.
For proper citation, see http://pwt.econ.upenn.edu/php_site/pwt_index.php
Source Indicator: p
Source: University of Pennsylvania
Release: Penn World Table 7.1
University of Pennsylvania, Price Level of GDP, G-K method for China [PLOGDPCNA621NUPN], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/PLOGDPCNA621NUPN/, August 1, 2015.