CCP Central Commission for Discipline Inspection and the Ministry of Finance Report Multiple Typical Cases of Local Debt-Conversion Fraud

On September 11, the Central Commission for Discipline Inspection and the National Supervisory Commission together with the Ministry of Finance jointly reported six cases of local government hidden debt, naming Anhui’s Jieshou, Jiangxi’s Jiujiang and Ningxia’s Yinchuan for falsifying, misappropriating or using new loans to repay old ones, with “debt‑conversion fraud” amounts totaling 2.94 billion yuan, and also mentioned the issue that during Wu Shenghua’s tenure as former party secretary of Bijie, Guizhou, debt increased rather than decreased.