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CASS: China Exaggerated 2012-2013 Export Numbers

The well-known Chinese news website Sina Finance recently reported that the CASS (Chinese Academy of Social Sciences) Institute of World Economy and Politics released a research report in which it examined China’s export statistics. The CASS research revealed that the actual export growth in 2012-2013 was 4 percent instead of the “official” 7.9 percent. The research found that China’s actual export scale was often miscalculated because of the impact of two main factors: (1) The Export-then-Import factor: After cargo was "exported," it immediately got “imported,” so that there was no real export; (2) The Fake Export factor: The exporter incorrectly reported a higher number. The Export-then-Import approach was often used to “cook” export statistics to those preferred by government officials; the 2012-2013 numbers reached US$157.3 billion. The purpose of the Fake Export approach was typically to collect more export tax rebates or to claim higher foreign investments. The number for 2012-2013 was estimated to fall between US$163.9 billion and US$244.6 billion. In the year 2013, China’s total cargo imports and exports surpassed the United States enabling it to become the number one cargo trader in the world.
Source: Sina Finance, April 28, 2014