Yes I think it's called nonperforming loans -- money "loaned" to those worthless Mao-era "enterprises" which have for years "pretended to pay workers who pretended to work." Closing them all, should have occurred but that would mean millions more unemployed and more unrest.
There weren't tens of thousands of incidents of citizens squaring off against authorities annually in 1930s America.
On top of that, I suspect many bad loans have been made to dubious private enterprises connected to powerful party officials.