China’s Stats Accentuate Positive, Play Down Negatives, Former Finance Minister Says

(Bloomberg) — A former Chinese finance minister criticized the country’s statistics for not properly reporting negative economic changes, with the rare harsh public statement from a senior figure highlighting long-standing concerns about the accuracy and reliability of national data.

A key meeting of top leaders this week said China’s growth next year will be weighed down by a “triple” whammy of contracting demand, a supply shock, and weakening expectations. However, none of those are visible in the statistical indicators, which have all been “very good,” Lou Jiwei, a former minister of finance, said at an online event Saturday.