Comments from China's NBS' Wang: China's GDP figures are credible
Head of China's National Bureau of Statistics Wang Baoan:
- China's GDP figures are credible
- China's economic statistics are accurate
- Quality of china's statistics is solid
- NBS has good tools to verify statistics
- China's GDP calculation is based on solid data
- China tax revenue from service sectors contribute 54.8%
- China economy to remain stable in 2016
- China sees new emerging sectors to grow fast
- Some china industrial sectors to continue to go downward
- China eco still faces complex intl situation in 2016
- China growth amid intl situation "not easy"
- China 2015 employment situation basically stable
Not being a statistician I'm probably not qualified to comment on the quality of Chinese economic data. I will note, though, that the Chinese Premier Li Keqiang (who isn't a statistician either AFAIK) has cast doubt on the veracity of China's data:
When China's premier was an up-and-comer in the provinces, he famously told US diplomats that he looked at indicators including electricity consumption and freight transport to gauge the true state of the world's second largest economy. According to a Wikileaks cable, Li Keqiang said such figures were more reliable than the government's own official GDP growth number.
But, maybe Li Keqiang is pulling our legs?