debt and large deficits. eunice yoon reports from beijing. >> reporter: china's finance minister, lo jiway was unexpectedly replaced and as is the case in china as to why government ministers come and go, there wasn't a lot of clarity here and that's left a lot of people wondering what it all means. some analysts and observers believe this could be a sign that the government is backtracking on economic reforms and that's because the outgoing finance minister was known to be outspoken and reform-minded and credited with furthering fiscal reforms. there's also some speculation that this decision could have been about politics and part of the president xi jinping's efforts to tighten his grip on the party, as well as the government. not a lot is known about the new finance minister, but there are some who do believe that he is closer to the president and the premier than his predecessor. the replacement of the new finance minister is part of a