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China admits to revising padded corporate profits

GDP and other data also come under suspicion

An air conditioner factory in China's eastern province of Anhui. Industrial profit growth of 16.5% in the January-May period drew suspicion as unnaturally high.   © Reuters

BEIJING -- China's statistics bureau has taken the highly unusual step of acknowledging that it revised past data on corporate profits, raising concerns about the reliability of official figures.

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