China publicly names officials in ‘unprecedented’ hidden-debt crackdown. Can it work?

China's Ministry of Finance and the Central Commission for Discipline Inspection have publicly named several officials involved in a hidden-debt crackdown. The move is an attempt to tackle the country's long-standing issue with unrecorded local government debt. This crackdown is significant because it marks a rare instance of the CCDI, a disciplinary body, being involved in such announcements, which could signal a more concerted effort to address the problem.

Why it matters

China's government is taking steps to address its hidden debt problem. This could lead to increased transparency and stability in the country's financial system.

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