China's National Bureau of Statistics has said that a county government in Yunnan province faked economic data. State-owned Xinhua news agency said, the authorities coerced local companies to inflate the value of their output to boost economic figures. 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. Patrick Chovanec, chief strategist at Silvercrest Asset Management said, one has been hearing stories like this for some time now. The fact that the government has now admitted that this has been happening, confirms the doubts that people have had for a long time, he added.
News On AIR | September 6, 2013 11:43 AM
Yunan county faked economic data: China Bureau of Statistics