- Tencent Holdings Ltd's (OTC:TCEHY) social media site WeChat deleted at least two reports by notable economists questioning China's surprisingly strong economic data, Bloomberg reports.
- JD.com Inc (NASDAQ:JD) chief economist Shen Jianguang argued over multiple contradictions behind the robust data.
- Tencent also removed a similar post by China Evergrande Group's former chief economist Ren Zeping.
- Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
- Tencent removed an article critical of Beijing's policies to rein in the "disorderly expansion of capital." The report also criticized the crackdown on Internet platform companies.
- On March 15, China reported stronger-than-expected economic data for the first two months, with solid consumer spending, investment, and industrial output growth.
- The data revealed investment growth despite the weakening housing market and falling output of essential construction goods prompting some to question the accuracy of the data.
- Price Action: JD shares traded lower by 1.37% at $63.20 in the premarket on the last check Thursday.
