In a command economy such as China's where values, whether of commodities, stocks or even currencies, are not determined by the market and the laws of supply and demand, it is difficult to ascertain what are real and what are not. Values are posted and openly declared but they are posted and declared by the state which determines what these values are regardless of their basic foundations. They are what the state says they are. Intrinsic foundations may, or may not have anything to do with what the state says.
Read me: Mining tunnels and then tanks