Leaked Reports- Financial Crisis in China’s Dalian City, Revealed

China’s gross domestic product (GDP) numbers have long been questioned by the international community due to its lack of transparency. Recently, data from leaked government internal documents from Dalian city of Liaoning Province reveal a grim picture of China’s economy amid the resurgence of COVID-19 in different regions since July. While the global economy has declined sharply this year due to the COVID-19 pandemic, and most countries’ economies have had negative growth rates, China has reported a 3.2 percent rise in its GDP in the second quarter, compared to the same period last year, according to its National Bureau of Statistics. However, the leaked documents obtained by The Epoch Times reveal that Dalian city’s economy took a dive in the first half of 2020 and government debt was ten times above the international warning level set by the European Union.