个人征信修复新政将落地，符合条件的逾期记录不予展示

Core Viewpoint - The People's Bank of China is set to implement a one-time personal credit relief policy in early 2026, aimed at addressing the credit repair needs of individuals affected by the pandemic, specifically those who have fully repaid loans despite having defaulted due to uncontrollable circumstances [3][6]. Summary by Sections Credit Relief Scope - The new policy will only apply to individuals who experienced defaults due to the pandemic and have fully repaid their debts, thus providing a "reset" opportunity for those with "non-malicious" defaults [7][8]. - The policy will not cover malicious defaults and will have a threshold for the amount of default, which is yet to be specified [7]. Impact on Individuals - The policy aims to help individuals restore their credit status, allowing them to regain access to housing loans, car loans, and business loans, thereby facilitating a return to normal financial activities [8][9]. - It is expected to encourage more individuals to clear their debts, as the policy emphasizes that only those who have repaid their loans will benefit from the relief [8]. Economic Implications - By improving the credit records of many consumers, the policy is anticipated to stimulate economic activity by enabling more potential homebuyers, entrepreneurs, and small business owners to access financial support [8][9]. - The initiative is seen as a positive signal for encouraging repayments, which could lead to a healthier credit environment and improved asset quality for financial institutions [9][10]. Technical Implementation - The relief will not involve the complete removal of default records but will instead use a "non-display" method for qualifying defaults, which will be implemented after necessary technical preparations by the People's Bank of China and financial institutions [9][10]. - The policy is characterized as a structured and conditional relief mechanism, rather than a blanket "credit washing" solution [10].