China Admits To Fake Data (Again) - Hidden Debt and Inflated Revenues

[To-Whose-Benefit?]

zerohedge
by Tyler Durden
Dec 23, 2017 9:30 PM

[excerpt]

http://www.zerohedge.com/news/2017-12-22/china-admits-fake-data-hidden-debt-inflated-revenues

It's not the first time (and it won't be the last), but a recent nationwide audit found some local governments inflated revenue levels and raised debt illegally, once again crushing China's credibility on the global stage when it comes to economic performance.

As Bloomberg reports, ten cities, counties or districts in the Yunnan, Hunan and Jilin provinces, as well as the southwestern city of Chongqing, inflated fiscal revenues by 1.55 billion yuan ($234 million), the National Audit Office said in a statement on its website dated Dec. 8.