The accuracy and reliability of satellite precipitation products (SPPs) are important for their applications. In this study, four recently presented SPPs, namely, GSMaP_Gauge, GSMaP_NRT, IMERG, and MSWEP, were evaluated against daily observations from 2344 gauges of mainland China from 2001 to 2018. Bivariate Moran’s I (BMI), a method that has demonstrated high applicability in characterizing spatial correlation and dependence, was first used in research to assess their spatial correlations with gauge observations. Results from four conventional indices indicate that MSWEP exhibited the best performance, with a correlation coefficient of 0.78, an absolute deviation of 1.6, a relative bias of −5%, and a root mean square error of 5. Six precipitation indices were selected to further evaluate the spatial correlation between the SPPs and gauge observations. MSWEP demonstrated the best spatial correlation in annual total precipitation, annual precipitation days, continuous wet days, continuous dry days, and very wet day precipitation with global BMI of 0.95, 0.78, 0.78, 0.78, and 0.87, respectively. Meanwhile, IMERG showed superiority in terms of maximum daily precipitation with a global BMI value of 0.91. IMERG also exhibited superior performance in quantifying the annual count days that experience precipitation events exceeding 25 mm and 50 mm, with a global BMI of 0.96, 0.92. In four sub-regions, these products exhibited significant regional characteristics. MSWEP demonstrated the highest spatial correlation with gauge observations in terms of total and persistent indices in the four sub-regions, while IMERG had the highest global BMI for extreme indices. In general, global BMI can quantitatively compare the spatial correlation between SPPs and gauge observations. The Local Indicator of Spatial Association (LISA) cluster map provides clear visual representation of areas that are significantly overestimated or underestimated. These advantages make BMI a suitable method for SPPs assessment.
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