WSJ: The words of the Chinese economist infuriated Xi Jinping

Chinese leader Xi Jinping was enraged by the words of Chinese economist Gao Shanwen, who suggested that Beijing was overstating the country's economic growth data, The Wall Street Journal writes, citing sources.

According to their information, Xi instructed to hold accountable an economist who stated that the real GDP growth rates in recent years in China could be more than two times lower than they say officially.

"We do not know the exact indicators of the real growth of the Chinese economy. According to my assumptions, in the last two or three years, real (GDP growth) has averaged about 2%, although official figures are close to 5%," Gao Shanwen said in December at a forum in Washington.

What angered the Chinese president even more was that the economist doubted the ability of the Chinese leadership to take the steps necessary to stimulate economic growth. The expert described Beijing's efforts in this regard as "opportunistic."

"I don't think they will be able to fulfill what they promised with confidence," Gao said.

The WSJ notes that this is not the first time the Chinese authorities have taken such actions against those who criticize economic policy or point out problems in the country's economy. The publication writes that last year, economist Zhu Hengpeng came under investigation for critical messages in a private group chat about Xi Jinping's actions in the economy.

Earlier in December, the publication wrote that the Chinese economy was faced with an oversupply of capacity and a decrease in demand, which is why companies are lowering prices, postponing investments and laying off employees, which further restrains spending, and buyers are postponing purchases in anticipation of a further drop in prices.

The Associated Press reported that China has taken several measures to stimulate economic growth in the new year. Among them are the expansion of programs for the disposal of old cars, household appliances and smartphones; strengthening the fight against "arbitrary inspections" of businesses by local officials, preventing abuse of power against businesses; supporting the weakened yuan against the dollar, etc.