Subscribe to our free daily newsletters
  Energy News  

Subscribe to our free daily newsletters

China cracks down on fraudulent provincial growth figures
by Staff Writers
Beijing (AFP) Oct 30, 2017

China's National Bureau of Statistics will take control of regional GDP growth data because exaggerated figures from the provinces hamper economic policymaking, an official said in an interview published Monday.

The national and provincial governments have long issued contradictory GDP statistics: the cumulative provincial output far exceeds the national output measured by the NBS.

The NBS's deputy head Li Xiaochao said it would publish both regional and national GDP figures starting in 2019, according to the interview published on the bureau's website.

"The gap between collected regional and national GDP data is still not small," Li said, noting the problem made it hard to determine regional trends and implement macroeconomic controls.

"It also affects the credibility of government statistics," he said.

Local bureaucrats' promotions have long been tied to economic performance, giving them an incentive to falsify data in hopes of improving their chances of career advancement, officials admit.

As a result China has long struggled with inaccurate data. In recent years it has publicised a growing number of cases of falsified economic statistics.

In January the governor of the northeastern province of Liaoning made a rare admission that his government had falsified data from 2011 to 2014.

In 2007 Li Keqiang, who is now Premier, told the US ambassador that "GDP figures are 'man-made' and therefore unreliable", according to State Department cables released by Wikileaks.

Li, who was Liaoning's party secretary at the time, said he used other economic measures to get an insight into China's economic growth, noting the GDP statistics are "for reference only".

Japan bank CEO quits over claims of $2.2 bn in bad loans
Tokyo (AFP) Oct 25, 2017
The head of a government-backed Japanese bank said Wednesday he would quit in response to an internal probe that found wide-ranging misconduct involving some $2.2 billion in shady loans. The report alleged that hundreds of employees at almost all of Shoko Chukin Bank's offices across Japan falsified documents to make low-interest loans to firms ineligible to receive them. The scheme was ... read more

Related Links
Global Trade News

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Japan faces challenges in cutting CO2, Moody's finds

IEA: An electrified world would cost $31B per year to achieve

'Fuel-secure' steps in Washington counterintuitive, green group says

SLAC-led project will use AI to prevent or minimize electric grid failures

Scientists solve a magnesium mystery in rechargeable battery performance

Ames UConn team discover superconductor with bounce

Plastic and metal-organic frameworks partner for sensing and storage

Scientists get first close-ups of finger-like growths that trigger battery fires

New York sets high bar for wind energy

Construction to begin on $160 million Industry Leading Hybrid Renewable Energy Project

A kite that might fly

Scotland outreach to Canada yields wind energy investment

New fractal-like concentrating solar power receivers are better at absorbing sunlight

Recurrent Energy Announces Commercial Operation of 71 MW North Carolina Solar Project

Fitch: U.S. decision on Paris doesn't matter for renewable growth

ABC Solar catches a CAB to land a PTO from SCE

South Korea to push ahead with nuclear power plants

AREVA NP awarded contract for safety upgrades in seven reactors

AREVA NP installs a system allowing flexible electricity generation at Goesgen nuclear power plant

Dessel: a new step forward with the dismantling of the site

Expanding Brazilian sugarcane could dent global CO2 emissions

Stiff fibers spun from slime

Converting carbon dioxide to carbon monoxide using water, electricity

Separating methane and CO2 will become more efficient

Exxon earning and spending more

Upbeat producer sentiment offset GDP to push oil prices lower

Italy's Eni sees easy growth at $60 per barrel

Trans Mountain pipeline planners seek federal intervention

A drier south: Europe's drought trends match climate change projections

Carbon dioxide levels lower than thought during super greenhouse period

IMF chief warns of 'dark future' over climate change

GAO finds big U.S. costs from climate change

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement