**Abstract**
An unreasonable GDP data: for nearly 30 years, local governments have been under pressure to meet the national average annual growth targets, which has led to a distorted picture of economic performance. In the eyes of economist Paul Samuelson, GDP was once hailed as the greatest invention of the 20th century, but its significance is now being questioned. On June 28, General Secretary Xi Jinping emphasized the need to improve evaluation methods and stop measuring success solely by GDP growth rates. While China’s total GDP has risen to second place globally, this achievement comes with a legacy of extensive development models that have long been criticized. The "exchange mother" story illustrates how GDP fails to account for social costs—when two mothers care for their children at home, no GDP is generated, but if they exchange services, GDP increases, ignoring the child's well-being.
The gap between local and national GDP figures has raised concerns. For example, in 2012, provincial GDP estimates were 5.76 trillion yuan higher than the national figure, equivalent to the entire economy of Guangdong Province. Over the years, the difference has grown significantly, with discrepancies increasing by nearly one trillion annually. Despite efforts by the National Bureau of Statistics to enhance data accuracy through direct reporting systems, many local governments still prioritize investment-driven growth, often exceeding national targets to secure political recognition.
Statistical fraud has also become a growing issue. Some local governments manipulate data to meet growth expectations, leading to exaggerated industrial output and false reports. Ma Jiantang, head of the National Bureau of Statistics, has warned against such practices, highlighting the risks of inaccurate data affecting national policy decisions. A grassroots statistician noted that comparing reported business data with actual tax payments can easily reveal falsifications.
At the same time, there is a growing call to re-evaluate the importance of GDP. Experts argue that true economic progress should be measured not just by GDP growth, but also by people’s income, quality of life, and environmental sustainability. The concept of “GDP gold content†has emerged as a way to assess the real value of economic growth, focusing on per capita disposable income relative to GDP.
General Secretary Xi Jinping has stressed the need to shift from a purely GDP-centric approach to a more holistic evaluation of performance, including social progress, ecological benefits, and public welfare. As China moves toward sustainable development, the challenge lies in balancing economic growth with broader societal goals.
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