Radio France International (RFI) reported that multiple Chinese officials have recently been asked to leave their posts in the National Bureau of Statistics and the central bank. The rankings of those sacked are mostly at the bureau-level, but the nature of their work allows access to sensitive economic data. The central government recently noticed frequent leaks of macroeconomic data just before its public announcement.
As China is the world’s second largest economy, publicly released economic data has an enormous influence on the global financial market. It thus becomes the pursuit of the media and financial agencies. In recent years, the mainland’s macroeconomic data, such as the consumer price index published by the National Bureau of Statistics, is often accurately “predicted” and foreign media and security brokerage firms release it in advance. The domestic stock markets have also reacted before the official releases.
The responsibilities of involved stock brokerage firms are still being determined. Criminal investigations are under way.
Source: Radio France International, June 4, 2011