NBS to check data reported by companies

China’s National Bureau of Statistics is determined to check the data reported by companies, in a bid to increase the economic indicators’ quality and reliability, the NBS said in a statement on Wednesday.

Companies that report false information will be hit with “serious punishments”, said Ma Jiantang, the bureau’s director.

Ma added that some companies are providing false figures to the national statistics system, and that some local governments are also distorting statistics.

The move is a further step to improve the NBS’ basic data-collecting process after it adopted a new information reporting system in February 2012.

Through the improved channel, about 700,000 companies can directly upload operational information including output, retail and investment data onto the platform. The new system can also reduce manipulation from local governments.