This data series refers to China Version 2. 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.
Note: Over GDP, 1 US dollar (US$) = 1 international dollar (I$). Purchasing power parity is the number of currency units required to buy goods equivalent to what can be bought with one unit of the base country. We calculated our PPP over GDP. That is, our PPP is the national currency value of GDP divided by the real value of GDP in international dollars. International dollar has the same purchasing power over total U.S. GDP as the U.S. dollar in a given base year. 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: ppp
Source: University of Pennsylvania
Release: Penn World Table 7.1
University of Pennsylvania, Purchasing Power Parity over GDP for China [PPPTT2CNA618NUPN], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/PPPTT2CNA618NUPN/, October 6, 2015.