07/16/2015, 00.00
CHINA
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China, economic growth at 7%: doubts on data from Beijing

In the second quarter of 2015 industrial production grew (not what was expected) but not energy consumption, and analysts speak of "serious discrepancies" between the regional and national data. The National Statistics Office defends itself: "Numbers hard won and accurate." Citibank: "We estimate a real growth of around 5%."

Beijing (AsiaNews) - The data on China's economic growth in the second quarter of 2015 "are accurate. The rate at 7% was hard won and correctly reflects the market trends” claimed the spokesman of the National Bureau of Statistics, Sheng Laiyun.

He was speaking this morning in response to the allegations of experts and analysts who speak of "inaccurate" figures. The Office yesterday published data on economic growth in the second quarter: 7%, as in the first period of the year, up from the 6.7% forecast by analysts.

Economists have repeatedly questioned Beijing’s methodology in statistics, which show significant discrepancies between regional and national data, gaps in data collection and in general lack of transparency.

Financial giant Citibank told its customers "not to believe" the government figures, and pointed to the "real growth" in the Chinese economy at "around 5%".

Controversy also surrounds technical issues related to industrial production: this has increased, but without increasing energy consumption. An aspect that some analysts have described as "absurd". Sheng also spoke about the development model to justify these discrepancies.  He claimed said the leadership was steering the economy into a "new normal" model - slower but sustainable growth.

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