2 1 Shi Ji Jing Ji Bao Dao·2025-12-24 08:08Core Viewpoint - The People's Bank of China has introduced a new policy for one-time credit repair, allowing eligible individuals to have their overdue information not displayed in the financial credit information database, marking a shift towards a dual focus on both punishment and repair in the credit system [1][15] Group 1: Policy Overview - The policy, effective from December 22, 2025, features an "automatic enjoyment" mechanism, significantly lowering the barriers and operational costs for credit repair [2][16] - It covers various personal credit products, including mortgages, consumer loans, and credit cards, without requiring individuals to apply actively [1][15][19] - Eligible overdue information must meet three criteria: it must have occurred between January 1, 2020, and December 31, 2025, the overdue amount must not exceed 10,000 RMB, and the debt must be fully repaid by March 31, 2026 [5][20] Group 2: Implementation by Banks - Major state-owned banks, including ICBC, ABC, CCB, BOC, and others, quickly responded to the policy by optimizing service measures to ensure effective implementation [7][21] - Banks have enhanced their systems for credit report inquiries and established risk monitoring mechanisms to facilitate the policy's rollout [21][22] - Specific channels for customer inquiries and corrections have been set up by various banks to ensure quick responses to any issues [22] Group 3: Clarification on Debt Repayment - Full repayment of overdue debts requires borrowers to settle both historical overdue amounts and current monthly payments [24][25] - Banks emphasize the importance of confirming the final repayment amount with financial institutions to avoid issues with policy eligibility [25] Group 4: Balancing Rights and Risk - The new policy aims to balance individual rights protection with financial risk prevention, encouraging overdue borrowers to repay their debts and helping banks recover non-performing assets [12][26] - The policy is seen as a significant opportunity for banks to enhance their service quality and better assess borrowers' creditworthiness [27] Group 5: Economic Impact - The credit repair policy is expected to stimulate demand for personal credit products, potentially boosting the lending market [13][27] - However, the overall improvement in credit demand will require support from fiscal and real estate policies due to the current economic environment [14][27] Group 6: Distinction from Debt Forgiveness - The credit repair policy is distinct from debt forgiveness, as it requires full repayment of overdue loans before any credit record corrections are made [28]