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Economy

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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