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1. Another question I constantly get: Can Chinese data be trusted? High Frequency data shop like Baidu or other private data source advertise their data showing similar thing as govt economic data, but more real time = acknowledgement of recent higher quality govt economic data.
2. Around 2014, the central government was extremely concerned that several northern provinces’ reported GDP numbers were overinflated by local officials. In 2016, the LiaoNing province in the north was asked to reduce its reported GDP figure by 22.4%.
3. 2018, after the fourth national economic census, 12 out of 15 northern provinces’ GDP estimates were adjusted lower, while 14 out of 16 southern provinces were adjusted higher. Jilin and HeilongJiang, both northern provinces, have respectively been adjusted down more than 20%.
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