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ECONOMY

Tianjin Economic Zone Cuts 2016 GDP by $102.3 Billion

The growth in gross domestic product of Tianjin's Binhai New Area (above) in 2017 is now estimated to be about 6% — far lower than last year’s average national level of 6.9%, a figure that Premier Li Keqiang has suggested. Photo: Visual China
The growth in gross domestic product of Tianjin's Binhai New Area (above) in 2017 is now estimated to be about 6% — far lower than last year’s average national level of 6.9%, a figure that Premier Li Keqiang has suggested. Photo: Visual China

One year after the rust belt’s Liaoning province admitted cooking its economic statistics — the first Chinese regional government to make such an acknowledgment — a growing number of local governments have been rattled by the campaign against data inflation.

The latest example is the Binhai New Area, Tianjin’s special economic zone, which relies on modern manufacturing and logistics. The new area has revised its 2016 gross domestic product (GDP) down 33.4% to 665.4 billion yuan ($102.3 billion), according to a social media post that was published Thursday by local media outlet Tianjin Radio, which cited the latest review of the matter conducted by the city’s legislative and political advisory bodies.

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