Of­fi­cial de­fends cred­i­bil­ity of Chi­nese eco­nomic data

China Daily (Canada) - - NEWS CAPSULE -

A for­mer head of China’s Na­tional Bureau of Sta­tis­tics has de­fended the coun­try’s of­fi­cial eco­nomic data against Western doubts on its cred­i­bil­ity.

China says its econ­omy ex­panded 6.9 per­cent year-onyear in 2015 de­spite lead­ing in­di­ca­tors of eco­nomic ac­tiv­ity, in­clud­ing rail freight vol­ume and elec­tric­ity use, fall­ing sig­nif­i­cantly or barely ad­vanc­ing. Western jour­nal­ists have ques­tioned whether such a high GDP growth is pos­si­ble given the other in­di­ca­tors.

“There are many barom­e­ters to mea­sure GDP,” said Ma Jiantang, now vice-pres­i­dent of the Chi­nese Academy of Gov­er­nance, at a news con­fer­ence. “In­di­ca­tors such as rail freight vol­ume and elec­tric­ity use no longer paint the whole pic­ture.”

Ma said the slow­down of th­ese two in­di­ca­tors re­flected in­dus­trial re­struc­tur­ing. Rail freight has dropped as coal pro­duc­tion has been cut, while low elec­tric­ity use also tal­lies with tran­si­tion into a ser­vice­ori­ented econ­omy, which is less re­liant on power use.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.