Multi-dimension Monitoring System for Regional Economy: Exploration and Practice in Xinjiang Autonomous Region

Based on the concept of “economic cycle cube”, this research constructs the multi-dimension monitoring system for Xinjiang Autonomous Region. The system is able to monitor the main subjects of Xinjiang regional economy including economic growth, investment, consumption, trade, prices, industrial enterprises, coal industry and services, with the tools like diffusion index, composite index, signal lamp, comprehensive monitoring index and business cycle tracer. Then, this research tries to combine the different signals into a comprehensive views of economic trends presented in a unified platform. A decision support system is developed to connect the dynamic coming data, methods for generating index, interpretation of results, and insightful interface. The multi-dimension monitoring system has been used in the decision making and policy support by the Economic Research Academy of Xinjiang Uygur Autonomous Region Development and Reform Commission.