Binhai New Area, a special economic zone in the northern Chinese city of Tianjin, has become the latest local government to revise down its gross domestic product statistics, as China’s central government clamps down on inflated economic data.
The zone has announced that its 2016 GDP was in fact only $102.3 billion, 33.4% lower than its previous estimate, according to Caixin. The announcement comes one year after Liaoning province became the first Chinese region to admitting falsifying its economic data, and just a week after Inner Mongolia autonomous region also confessed that its growth statistics were made up.
The GDP of Binhai New Area is believed to have grown around 6% in 2017- far lower than last year’s national average of 6.9%, a figure that Premier Li Keqiang suggested in a speech on Wednesday.
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