BEIJING/DALIAN, China -- Chinese President Xi Jinping's campaign against tampered economic data is starting to catch on, with Liaoning Province in the northwest reporting a plunge in nominal gross domestic product in a likely departure from the practices of the past.
Liaoning's nominal GDP shrank 19.6% on the year in January-June to 1.02 trillion yuan ($154 billion). Meanwhile, its real GDP grew 2.1% and both consumer and wholesale prices have gained. But logic dictates that if prices are on the rise, nominal GDP must be outperforming real GDP.
