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China becomes only major world economy to report growth in 2020 : worldnews

1 min read

Note that the revised Chinese numbers contradict what they released earlier (emphasis mine):

Contradictory growth rates have been spotted in two major economic indicators of China, namely in fixed-asset investment and consumable retail. According to the latest notice by NBS, China’s national fixed-asset investment in 2020 is 51.89 trillion RMB, with 2.9 percent increase compared to 2019. On the other hand, the investment in 2019 as announced in last year’s notice is 55.15 trillion RMB, resulting in a calculation of 5.9 percent drop instead from 2019 to 2020. The two versions of rates differ by nearly nine percentage points.

In general, Chinese numbers are not computed like others, so comparisons with others need to take a grain of salt:

Being asked if this is a usual practice in the international community, he pointed out that foreign countries adopt statistical methods like sampling and projection, but in China, ‘we have our own characteristics in our country.’

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