Communist authorities in Inner Mongolia recently admitted that they had exaggerated industrial revenue by 26 percent, or 53 billion yuan ($8.1 billion), according to state media on Jan. 3.
The numbers were fabricated using the following method: at the beginning of the year, the finance department sets a target for revenue that is too high. By year’s end, it is difficult to reach the target, but the department reports it anyway, while asking corporations to give funds to the government. With bad loans and fabricated numbers for revenue and expenses, it will appear as if the department reached the goal.
