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Economy

China's regional GDP slowdowns raise suspicions over past data

Powerhouses Shanghai, Chongqing and 7 localities post negative growth

Shanghai's economy contracted 1.5% in October-December, compared with 17.3% growth the previous quarter.   © Reuters

BEIJING -- Many of China's provinces and top municipalities have reported rapid economic slowdowns for the last three months of 2017, with nine posting negative growth, raising suspicion that they had inflated growth numbers in the past. 

Economic powerhouses Shanghai, Chongqing and Zhejiang Province --where President Xi Jinping spent six years as Communist Party chief -- as well as six other localities said they saw negative nominal growth during the October-December quarter. All nine had enjoyed positive year-on-year growth until the quarter before. 

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