Are they clearing the decks and going to come clean about their grossly over exaggerated GDP figures - I don't think so. Or are the Government using him as scapegoat to give the appearance that everything has been vetted and we can once again believe their economic data.
I'm not sure whether I have said this before on HC but firstly I'm amazed that the 2nd largest economy in the world can compile GDP figures two weeks after the quarter's end. It takes more then 2 months for Australia to do it's GDP figures. Secondly , I'm then astounded than there is no downward or even upward revisions to these hastily prepared figures. Thirdly , I'm stupefied that the market generally believes & relies on these figures given the above plus the fact that they are complied from data from other government agencies who are incentivised to achieve economic growth.
From the very little I know , I do hope this guy doesn't spend the next decade in jail because either way ( rightly or wrongly ) he just seems to be doing his job within a corrupt and fraudulent environment.
Although not perfect, energy / electricity consumption in China is a better way to compare economic growth over a period of time rather than GDP figures. And for the first time in 30 years, energy consumption contracted in 2015.
