Published: November 25th, 2024,
Last updated: May 28th, 2025

Chinese statistics are known to be taken with a grain of salt, especially official growth figures. In a country where even former Premier Li Keqiang stated in 2017 that he preferred to rely on alternative indicators to measure his country’s economic strength: the volume of rail freight, power consumption and bank loans – which would later go down in history as the Keqiang Index – economists, citizens and consulting firms frantically look for alternative data.