China’s statistics-bureau chief said the agency has “zero tolerance” for falsified data after it publicized cases of manipulated local numbers and the customs bureau cracked down on fraudulent export invoices.
Every month, traders, investors and money managers like Shi Yu cull rumors about China’s soon-to-be- released economic statistics for what might be the official numbers to try and get an edge in the market.
China’s economic growth accelerated to 9.8 percent as industrial production and retail sales picked up, sending stocks lower from Asia to Europe on concern Chinese policy makers will raise interest rates and stem the expansion.
China’s income gap narrowed for the fourth straight year in 2012, the country’s statistics chief said today, the first time in a more than a decade the government has released the politically sensitive figure.
China’s stocks fell for a fifth day, sending the benchmark index to its longest losing streak in four months, as concern the government won’t accelerate reforms overshadowed better-than-estimated economic data.