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CHINA PRESS
CHINA PRESS: An increasing number of regional Chinese governments has been found
to have inflated their fiscal data, Economic Information Daily reported.
- 10 cities and counties in four provinces fabricated total CNY1.5 billion
fiscal revenue last year: daily cited the National Audit Office
- In addition to Liaoning, long known for 'falsifying its books', Inner
Mongolia, Yunnan, Hunan and a number of other provinces were also found with
false reporting, added the publication.
- Fabricating economic data overestimates the debt-paying ability of the local
governments, posing risks to the economy: daily.
***TAKEAWAY: Ahead of Thursday's 2017 GDP data release, this may be a
pre-emptive move to address criticisms over the quality of its data by
displaying that it is already addressing the issue.
MNI London Bureau | +44 203-586-3805 | nick.shamim@marketnews.com