Amid persistent doubts surrounding the accuracy of Chinese economic data, the National Bureau of Statistics has announced a rigorous investigation into officials involved in falsifying economic information. Despite previous government efforts to enhance data quality, the bureau acknowledged ongoing challenges in its recent statement.
A senior official, speaking anonymously, emphasized the severity of statistical fraud, labeling it as the most significant corruption within the realm of statistics. The official stressed the violation of statistical laws, highlighting the detrimental impact on data quality, which, in turn, hampers macro decision-making by providing inaccurate insights.
In response to the escalating concerns, the official sternly declared, “Those found engaging in data fraud will be identified, subjected to thorough investigations, and face severe consequences. Such misconduct will not be tolerated.”
This announcement follows the implementation of new disciplinary rules by the ruling Communist Party, aiming to address data violations more assertively. The measures include issuing warnings and expelling officials responsible for compromising the integrity of statistical information.
Doubts regarding the reliability of Chinese economic data have lingered for years, particularly as the government endeavors to allay market apprehensions about a potential prolonged slowdown in the world’s second-largest economy. Despite achieving the official growth target of 5.2% in 2023, analysts anticipate a deceleration this year due to a burgeoning property crisis, escalating local debt, and persistent deflationary risks.
