|Chinese Media Admits GDP Numbers not Reliable|
|by Tom McGregor||Thu, Jan 23, 2014, 01:45 AM|
BEIJING: As more and more statisticians are raising doubts on the accuracy of China's Gross Domestic Product (GDP) figures, the Chinese State-owned media has disclosed that yes indeed, Chinese officials are using fuzzy math to calculate economic numbers.
Accoring to Xinhua News Agency, "One plus one equals two. But it's not always the case, especially when you are talking about the calculating of local and national gross domestic product () data in China."
Zhang Liqun, researcher of the Development Research Center of the State council, is quoted as saying, "This is an old problem which recurs every time the data is released. The gap is mainly caused by duplicating applications."
As reported by Xinhua, "After the National Bureau of Statistics (NBS) on Monday unveiled economic data for 2013, what grabbed the most attention was not only the 7.7-percent annual growth figure, but also a somewhat peculiar math problem."
Yang Yongshan, former chief statiscian of the Shaanxi Provincial Bureau of Statistics, said, "It is possible that the national and local aggregate figures are not in accordance, but that is not reasonable if local figures are higer year after year than the national, and never go in the other direction."
To read the entire article from Xinhua News Agency, link here:
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