Chinese County of Yunnan Faked Economic Data

China’s National Bureau of Statistics has said that a county government in Yunnan province “faked” economic data, state-owned Xinhua has reported.

Authorities “coerced local companies” to inflate the value of their output to boost economic figures, it said.

The county, Luliang, was also found to have faked investment numbers.

There have been concerns over the quality of Chinese data and analysts said the development showed that it was an issue policymakers needed to tackle.

“One has been hearing stories like this for some time now,” said Patrick Chovanec, chief strategist at Silvercrest Asset Management.

“The fact that the government has now admitted that this happening confirms the doubts that people have had for a long time,” he told the BBC.

via BBC

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