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China Acknowledges That It Inflated 2022 Letin Auto Revenue

{Editor’s Note: The Chinese Communist Party (CCP) is known for reporting fake (inflated) Gross Domestic Production (GDP) numbers, to make itself look better. A recent case evidenced that practice.}

Letin Auto, also known as Levdeo, is an electric vehicle manufacturer in China. Its founder Li Guoxin posted an article under the company’s official account on January 14, accusing the county party chief Wang Xiao for forcing Letin to report an extra non-existing 4.7 billion Yuan (US$660 million) in revenue so that the county could have a better GDP number.

The government conducted an investigation and announced the result: Letin reported GDP 7.095 billion Yuan of revenue in 2022, but its actual revenue was only 2.552 billion Yuan, which means that 4.543 billion Yuan of revenue was fabricated. Following the investigation, the punishment was light. Nine people were said to be involved and were each given a warning within the party. There was no criminal or administrative punishment. The county party chief was also cleared from being guilty.

Letin filed for bankruptcy in May 2023.

Source: Net Ease, July 27, 2023