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Chinese economists’ social media on ice after critical comments spread like wildfire

Two Chinese economists have seen account restrictions after transcripts of speeches questioning official data garnered attention online

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Fu Peng, chief economist at brokerage firm Northeast Securities, has gone uncharacteristically quiet after critical comments on China’s economy gained widespread attention. Photo: Handout
Luna Sunin BeijingandDaisy Wuin Hong Kong

Two Chinese economists known for their frank talk have kept uncharacteristically quiet in recent days, as both appeared to receive social media suspensions after critical comments about the country’s prospects garnered widespread attention.

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Fu Peng, chief economist at brokerage firm Northeast Securities, has stayed under the radar after challenging official rhetoric painting a rosy picture for China’s growth outlook.

In a speech at a closed-door event in late November – and a widely circulated transcript of the address afterward – he said China needs to bite the bullet in preparation for an inevitable stall.

The key to effectively boosting domestic demand and “the biggest problem with China’s current economy”, he said, is the redistribution of wealth. “If we don’t do this, we will end up like Japan over the past 35 years.”

As of Friday, Fu’s WeChat account cannot be followed.

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A source from Northeast Securities said Fu would not be making “any public appearances for the time being,” as public “misrepresentation” has caused “considerable distress”.

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