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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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, Alfonso Esparza 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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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