近期，中国人民银行一次性信用修复政策出台后，部分网友产生了这样的疑问：这是征信洗白吗？ 如今，个人征信早已成为与每个人息息相关的"经济身份证"。无论是申请房贷还是车贷，个人征信既影 响个人能否顺利获得贷款，也影响其获取贷款的成本。按照《征信业管理条例》规定，征信系统中的个 人逾期信息自还清欠款算起要保存5年。过去几年，受新冠疫情等多方面因素影响，一些个人财务状况 发生了难以预料的变化，因此未能按原借款合同约定时间偿还贷款。虽然诚实守信、竭尽所能，事后已 全额偿还了债务，但信用报告仍然需要按规定展示历史逾期记录。这影响着这些人的经济生活，想要获 得新的贷款也处处受限。 一次性信用修复政策的出台打破了个人的信用困境，为曾经失信的个人提供了容错纠正的机会，有助于 帮助个人和家庭重塑信用。当信用修复人员重新获得信贷资格，他们的经济生活也将按下"重启键"。对 金融机构来说，这项政策也有助于金融机构更加准确地识别个人信用状况，为个人提供更精准有效的金 融服务。 但需要澄清的是，这项政策绝非"征信洗白"。新政是给确实有困难但主动履约的人松绑，并非给恶意失 信者开绿灯。此次信用修复政策有着严格的适用边界：仅覆盖特定时段内、一 ...

（来源：工人日报） 稳市场 12月在京举行的中央经济工作会议强调，纵深推进全国统一大市场建设，持续防范化解重点领域风险， 着力稳就业、稳企业、稳市场、稳预期，推动经济实现质的有效提升和量的合理增长。明年经济工作重 点任务包括坚持内需主导，建设强大国内市场等。 关税战 今年，美国发动多轮关税战冲击全球贸易。面对复杂多变的外部环境，中国外贸运行持续向好，展现出 中国经济的强大韧性和全球市场对中国产品的旺盛需求。"中国优质产品享誉世界，多元稳定市场广受 青睐，这是关税战、贸易战改变不了的。"外交部发言人如是说。 新国标 越来越多中国企业加速海外布局，通过建立研发中心、生产基地、区域总部，大量雇用当地员工，深入 理解、融入并满足当地需求。中国企业纷纷出海闯市场，不但以强劲的势头推动自身品牌的国际化进 程，也为全球市场注入了新活力。 反内卷 汽车、钢铁、光伏、水泥……不同行业同在反内卷。2025年一系列政策加码整治"内卷式"竞争，引导行 业竞争从"拼价格"的低层次内卷，回归"拼技术、拼服务、拼价值"的良性轨道，从根本上修复产业生 态。相关部委、行业协会、企业纷纷采取行动。 缴社保 继京东3月起逐步为全职外卖骑手缴纳五险 ...

漫画：杨仕成 12月22日，中国人民银行发布通知，实施一次性信用修复政策，支持信用受损但积极还款的个人高效便捷重塑信用。对于2020年1月1日至2025年12月31日 期间，单笔金额不超过10000元人民币的个人逾期信息，个人于2026年3月31日（含）前足额偿还逾期债务的，金融信用信息基础数据库将不予展示。 来源：央视新闻客户端 ...

Group 1: Central Bank Credit Repair Policy - The People's Bank of China announced a one-time credit repair policy effective from January 1, 2026, for overdue amounts not exceeding 10,000 RMB from January 1, 2020, to December 31, 2025 [1] - The policy applies to various loan types, including personal business loans, housing loans, consumer loans, and credit cards, regardless of the lending institution, as long as they are connected to the central bank's credit system [1] - The policy aims to provide individuals with a chance to correct past credit issues, enhance financial institutions' ability to assess credit status, and promote a culture of trust in economic activities [1] Group 2: National Venture Capital Guidance Fund - The National Venture Capital Guidance Fund was launched, establishing three regional funds to attract investments from various sources, aiming for a total fund size of over one trillion RMB [3] - The fund will focus on strategic emerging industries and future industries, with a 20-year lifespan, including a 10-year investment period and a 10-year exit period [3] - The fund has already signed investment intentions with 49 sub-funds and 27 direct investment projects in key sectors such as integrated circuits and biotechnology [3] Group 3: New Foreign Investment Directory - The National Development and Reform Commission and the Ministry of Commerce released the 2025 version of the Encouraged Foreign Investment Industry Directory, effective from February 1, 2026 [4] - The revised directory aims to attract more foreign investment in advanced manufacturing, modern services, high-tech, and energy-saving sectors, particularly in the central and northeastern regions of China [5] - The update responds to the new technological revolution and industrial transformation, optimizing the direction of foreign investment [5] Group 4: Childcare Services Law Draft - The draft law on childcare services emphasizes government leadership in developing public childcare services and aims to reduce family upbringing costs [6] - It includes strict regulations for childcare institutions and personnel qualifications, requiring licenses and adherence to various standards [6] - The law aims to address existing issues in childcare services, such as insufficient supply and safety concerns, contributing to population quality development [7] Group 5: RMB Exchange Rate - The offshore RMB against the US dollar broke the "7" mark for the first time since September 2024, with the onshore RMB also strengthening [8] - The RMB's appreciation is attributed to a weaker dollar and stable economic fundamentals in China, with expectations for future fluctuations around the 7 level [8] - The People's Bank of China aims to maintain the RMB's stability at a reasonable level while enhancing market resilience [8] Group 6: Financial Support for Western Land-Sea New Corridor - Eight departments, including the People's Bank of China, released opinions to enhance financial support for the Western Land-Sea New Corridor, proposing 21 key measures [9] - The corridor connects 12 western provinces and regions, facilitating trade with ASEAN countries and over 583 ports globally [10] - The initiative aims to improve financial services and cooperation across regions, enhancing the corridor's strategic importance in international trade [10] Group 7: Beijing Real Estate Policy Adjustment - Beijing's housing authorities announced adjustments to real estate policies, including relaxed purchase conditions for non-local families and support for multi-child households [11] - The changes aim to stimulate the housing market by addressing the needs of residents and promoting transaction flow [12] - The adjustments reflect a shift in the real estate market dynamics, recognizing the increasing importance of second-hand housing transactions [12] Group 8: Kuaishou Cyber Attack - Kuaishou experienced a large-scale cyber attack on December 22, leading to the temporary shutdown of its live streaming feature and significant stock price decline [13] - The attack highlighted vulnerabilities in Kuaishou's defense mechanisms, prompting concerns about the effectiveness of traditional security measures [13] - The incident serves as a warning for the industry to prioritize security investments and upgrade defense strategies [13]

来源：上海证券报·中国证券网 上证报中国证券网讯（记者 白丽斐）2026年1月，一批新规将施行，哪些新规将影响你我生活？ 对特定历史时期的个人小额逾期记录实施有条件、一次性的信用修复 中国人民银行发布一次性信用修复政策，自2026年1月1日起，对特定历史时期的个人小额逾期记录实施 有条件、一次性的信用修复。该政策主要有以下四个适用条件。适用对象为个人在央行征信系统中展示 的信贷逾期信息；适用时间区间为2020年1月1日至2025年12月31日产生的逾期记录；适用金额为单笔逾 期金额不超过1万元；适用前提是逾期债务须在2026年3月31日前足额还清。 进一步规范上市公司董事、高级管理人员和控股股东、实际控制人行为 中国证监会修订发布《上市公司治理准则》，进一步规范上市公司董事、高级管理人员和控股股东、实 际控制人行为，提升上市公司治理水平。此次《治理准则》的修订主要包括完善董事、高级管理人员监 管制度；健全董事、高级管理人员激励约束机制；规范控股股东、实际控制人行为；做好与其他规则的 衔接四方面内容。自2026年1月1日起施行。 经纪机构应当实时、完整、准确对外披露最优经纪报价行情 中国人民银行发布的《银行间市 ...

1. Report Industry Investment Rating No relevant information provided. 2. Core View of the Report - The domestic economic fundamentals showed marginal slowdown in industrial growth and social retail in November, with fixed investment in continuous negative growth and stable unemployment. Financial data in November was structurally differentiated, with social financing increment exceeding expectations due to direct financing, but credit continued to weaken, and the demand for long - term corporate investment remained weak. CPI continued to improve, while the decline of PPI widened slightly. Overseas, the US economy maintained resilience with strong consumption, but the job market cooled. The market's expectation of future interest - rate cuts increased. The central bank's monetary policy in the next year will continue the moderately loose tone, but the urgency of short - term interest - rate cuts is low. It is expected that interest rates will continue to fluctuate in the short term [99]. 3. Summary According to the Directory 3.1. Market Review - **Weekly Data**: The 30 - year, 10 - year, 5 - year, and 2 - year Treasury bond futures' main contracts rose by 0.27%, 0.14%, 0.08%, and 0.06% respectively. The trading volume of the TS main contract increased, while the trading volumes of the TF, T, and TL main contracts decreased slightly. The open interest of the TF, T, TS, and TL main contracts all increased [13][16][22][30]. 3.2. News Review and Analysis - **Domestic News**: On December 22, the 1 - year and 5 - year - plus LPR remained unchanged, with cumulative decreases of 10 basis points this year. The National Housing and Urban - Rural Development Work Conference proposed to optimize real - estate policies. The central bank's Monetary Policy Committee meeting in the fourth quarter emphasized maintaining capital - market stability. The Ministry of Finance and other 9 departments formulated the enterprise climate - information disclosure guidelines. The National Development and Reform Commission proposed to regulate the "new three items" industries [33][34]. - **Overseas News**: The US GDP in Q3 2025 increased by 4.3% quarter - on - quarter annually, and consumer spending was the main driving force. Japan's 2026 fiscal - year preliminary budget reached 122.3092 trillion yen, a record high [34][35]. 3.3. Chart Analysis - **Spread Changes**: The spreads between 10 - year and 5 - year, 10 - year and 1 - year Treasury bond yields widened. The spreads between the TF and TS, T and TF main contracts widened. The 10 - year, 30 - year, 5 - year, and 2 - year Treasury bond futures' near - far month spreads all widened [43][49][53][60]. - **Treasury Bond Futures Main - Position Changes**: The net short positions of the top 20 holders in the T Treasury bond futures main contract decreased [67]. - **Interest - Rate Changes**: Overnight and 2 - week Shibor rates decreased, while 1 - week and 1 - month Shibor rates increased. The DR007 weighted average rate rebounded to around 1.52%. The short - end yields of Treasury bond cash bonds were strong, with 1 - 7Y yields decreasing by 1.10 - 6.75bp, and 10Y and 30Y yields decreasing by about 0.5bp to 1.84% and 2.22% respectively. The spreads between Chinese and US 10 - year and 30 - year Treasury bond yields narrowed slightly [69][74]. - **Central Bank's Open - Market Operations**: The central bank conducted 422.7 billion yuan in reverse repurchases and 210 billion yuan in treasury - cash fixed deposits this week, with 457.5 billion yuan in reverse - repo maturities and 120 billion yuan in treasury - cash fixed - deposit maturities, resulting in a net withdrawal of 244.8 billion yuan. The DR007 weighted average rate rebounded to around 1.52% [78]. - **Bond Issuance and Maturity**: This week, the total bond issuance was 983.033 billion yuan, and the total repayment was 1081.165 billion yuan, with a net financing of - 98.132 billion yuan [82]. - **Market Sentiment**: The central parity rate of the RMB against the US dollar was 7.0358, with a cumulative increase of 192 basis points this week. The spread between the offshore and onshore RMB narrowed. The 10 - year US Treasury bond yield decreased slightly, the VIX index decreased, the 10 - year Chinese Treasury bond yield increased slightly, and the A - share risk premium decreased slightly [85][91][96]. 3.4. Market Outlook and Strategy - The domestic economic internal driving force needs to be boosted. The central bank's monetary policy in the next year will continue the moderately loose tone, but the short - term urgency of interest - rate cuts is low. It is expected that interest rates will continue to fluctuate in the short term [99].

12月22日，中国人民银行发布《关于实施一次性信用修复政策有关安排的通知》（以下简称《通 知》），宣布对于2020年1月1日至2025年12月31日期间，单笔金额不超过1万元人民币的个人逾期信 息，个人于2026年3月31日（含）前足额偿还逾期债务的，央行征信系统将不予展示。 《通知》发布后，不少人在社交平台留言询问是否可以享受此次政策红利。结合公众普遍关心的问题， 近日，国家开发银行、工商银行（601398）、农业银行（601288）、中国银行（601988）、建设银行 （601939）、交通银行、邮储银行（601658）等多家银行业金融机构发布政策答疑，通过深入浅出的讲 解，助力央行一次性信用修复政策的进一步落地执行。 问 哪些类型的贷款可以享受本次政策？ 答 本次政策不区分信用卡、房贷、消费贷等业务类型，只要符合政策条件的个人信贷业务，都能获得信用 修复。 问 如何理解"足额偿还逾期债务"？ 答 关于这一点，北京银行行长戴炜在央行举办的新闻发布会上进行了举例解释："以每月10日还款1000元 的等额本息贷款为例，若截至2025年12月31日尚有2000元逾期欠款，则借款人需要在2026年的1月10日 前 ...

Core Viewpoint - The People's Bank of China has announced a one-time credit repair policy aimed at supporting individuals with damaged credit who actively repay their debts, in response to the ongoing impacts of the COVID-19 pandemic [1][3]. Group 1: Policy Implementation - The policy applies to personal overdue information for amounts not exceeding 10,000 RMB from January 1, 2020, to December 31, 2025, where individuals can have their overdue debts removed from the credit system if repaid by March 31, 2026 [2]. - Financial institutions have quickly responded to the policy, emphasizing the importance of promoting and implementing the credit repair measures [1][3]. Group 2: Benefits for Individuals and Financial Institutions - The policy is expected to provide a corrective opportunity for individuals with past credit issues, improving their credit status and stimulating economic activity [3]. - It will help financial institutions better identify individual credit situations, enhancing the quality and effectiveness of inclusive financial services [3][4]. - The policy is anticipated to activate a significant number of potential credit customers, positively impacting consumer credit growth [4]. Group 3: Relationship Between Banks and Customers - The implementation of the policy is likely to foster a better relationship between banks and customers, encouraging individuals to value and maintain their credit [5]. - Banks are expected to provide improved financial services based on the enhanced credit environment created by the policy [5]. Group 4: Challenges for Financial Institutions - Banks face the challenge of optimizing risk control capabilities while implementing the credit repair policy [6]. - There is pressure on banks to quickly adjust risk control models to incorporate the new repair rules and prevent secondary risks from historical record changes [7]. - Financial institutions need to ensure accurate reporting of repayment information to the credit system and may need to develop new assessment models for the repaired customer group [7][8].

"免申即享"信用修复启动 兰州住房公积金中心发布一次性信用修复政策全攻略 每日甘肃网12月25日讯 据兰州晚报报道 为落实中国人民银行一次性信用修复政策要求，支持信用受损 但积极履约的公积金贷款用户重塑信用，12月24日，兰州住房公积金管理中心发布"一次性信用修复政 策全攻略"，明确政策适用范围、实施方式及重要时间节点，提醒符合条件的缴存职工及时享受政策红 利。 逾期信息产生时间在2020年1月1日至2025年12月31日期间，单笔逾期金额不超过10000元，已纳入央行 征信系统的公积金贷款信贷逾期信息，在2026年3月31日（含）前足额偿还全部逾期本金、利息及违约 金，可适用该政策。 符合条件的逾期信息将按以下规范调整，调整结果同步体现在个人信用报告"信息概要"及"信贷交易信 息明细"模块：还款状态将由"逾期"标识调整为"正常"；逾期金额将由实际逾期数值调整为"0"。调整 后，相关逾期信息即可展示为正常还款状态。 兰州住房公积金管理中心提醒，此次政策为官方免费惠民举措，任何以"征信修复""代办洗白"名义收取 费用、索要个人信息的行为均属诈骗，切勿轻信第三方中介机构虚假宣传；2026年1月1日至6月30日期 ...

12月22日，央行发布《关于实施一次性信用修复政策有关安排的通知》，明确自明年1月1日 起，符合相关条件的逾期信息，将不会在个人信用报告中予以展示。 政策落地后，国有大行迅速响应，纷纷发布相关热点问题解答，并通过设置查询权限、优化 线上和线下服务渠道等方式，多措并举推进政策实施。比如，农行发布的《关于一次性信用 修复政策客户关注问题解答》提及，客户线上可通过中国人民银行征信中心官网"互联网个 人信用信息服务平台"查询，线下可通过征信自助查询机等查询，同时也可登录中国农业银 行手机银行APP"个人信用报告"模块进行查询。 值得一提的是，多家银行还提醒，一次性信用修复政策完全免费，免申即享，个人无需申请 操作，更无需委托第三方处理，任何以该政策名义索要钱财、索取信息的均为诈骗行为。 一次性信用修复政策发布后，国有大行纷纷发文响应 近日，在央行发布《关于实施一次性信用修复政策有关安排的通知》后，国有大行迅速响 应，发布相关热点问题解答。 农业银行发布《关于一次性信用修复政策客户关注问题解答》，其中提及，征信系统将对符 合条件的逾期信息进行自动识别和统一处理，无需公众进行申请和确认操作。若个人需要了 解相关逾期信息是 ...