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 jointly announced six typical cases of hidden local government debt issues across six provinces. This marks an "unprecedented" move, as the CCDI is involved in penalty announcements alongside the MoF, highlighting the government's renewed focus on addressing unrecorded liabilities. The circular details instances where local authorities failed to meet targets for resolving these hidden debts. This action brings China's persistent problem with hidden local government debt back into public attention.