China Stats Chief Under Investigation for Corruption

The man in charge of safeguarding China’s economic statistics is under investigation for potential corruption.

China’s Central Commission on Discipline Inspection announced Tuesday that Wang Bao’an, party chief and director of the country’s National Bureau of Statistics, is under investigation for “serious violations of party discipline.”

Beijing uses the phrase “violations of party discipline” as a euphemism for graft or corruption.

The surprise announcement, which is bound to raise new questions about the accuracy of Beijing’s economic statistics, came just hours after Wang briefed reporters on the state of China’s economy.

China’s economic statistics have come under fire in recent years from analysts and economists who say they are artificially inflated. Some are convinced that China is outright cooking its books. Others debate the accuracy of certain data and point to more meaningful alternatives like electricity consumption or rail freight.

via CNN

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza