China's debt-to-GDP ratio has surged by 13.5 percentage points in 2023, reaching a record 287.8%, despite a sluggish economy. Doubts about the accuracy of China's economic data have surfaced after the country revised down its 2022 investment figures by 12% and the CCP's National Bureau of Statistics cut the national 2022 GDP to show a 5.2% growth rate for 2023. Henan Province reported a 4.1% GDP increase to 5.913239 trillion yuan for 2023, despite a higher GDP figure for 2022 still being listed on its website. Newsweek has reported on an economic crisis in China, highlighting the government's change in methodology to report lower youth unemployment figures. Furthermore, the CCP's official numbers for fixed assets investment in 2023 show a 3.0% increase to 50.3036 trillion yuan.
These are the CCP's official numbers for fixed assets investment for each year. Have you seen any bigger jokes? In 2023, the national investment in fixed assets (excluding farm households) was 50.3036 trillion yuan, an increase of 3.0% over the previous year. In 2022, national… https://t.co/4WjyirI6w5
I later learned they did "adjust" their 2022 GDP to maintain the 4.1% growth. As a matter of fact, the CCP's National Bureau of Statistics cut the national 2022 GDP too to create a 5.2% growth rate for 2023. But the problem is, they forgot, or couldn't delete all the previous… https://t.co/3r2x70i09u
CHINA IS COVERING UP AN ECONOMIC CRISIS (Newsweek) China slashed its high youth unemployment by nearly a third this month—at least on paper. However, some experts say the government's new methodology, which follows a half-year moratorium on publishing this data, does little… https://t.co/BSbw0VRzbz
One way China juices their official growth numbers is to revise down past output to look smaller. This trick can be repeated over and over again, though it means multi-year growth numbers will be lower. https://t.co/uvNWLgJWLq
Can you believe that China's provincial government would make such a low-level mistake? Henan Province announced that its 2023 GDP is 5.913239 trillion yuan, a 4.1% increase from last year. In the meantime, last year's GDP is still on its official website, which was 6.134505… https://t.co/4Or0N0hWaw
China just revised down ‘22 investment numbers by 12%… Why/how?!? Well when the past looks much worse…standing still starts to look like growth! This is what you should have expected when they report GDP is 50%+ investment. You have no excuses now to trust the data. https://t.co/OergIJ3Y7V https://t.co/yesBNuNb8O
China’s debt-to-GDP ratio jumped by 13.5 percentage points in 2023 from 2022 to reach a record 287.8% despite sluggish borrowing as economic growth slowed, a state-backed think tank reported https://t.co/TI2fvvOdwf