Core Viewpoint - The People's Bank of China (PBOC) is set to implement a one-time personal credit relief policy in early 2025, aimed at helping individuals restore their credit records affected by the pandemic and other factors, thereby stimulating economic vitality and consumer confidence [2][3][4]. Group 1: Personal Credit System - The personal credit system in China is still under development compared to the corporate credit system, focusing primarily on credit record establishment rather than management and relief [2][3]. - The slow update of the personal credit system has led to individuals facing long-term consequences from past credit issues, hindering their access to financial services and opportunities for recovery [3][4]. Group 2: Economic Implications - The implementation of the personal credit relief policy is expected to unlock significant potential in consumer finance and retail finance, allowing for market-based pricing of individual credit and facilitating easier access to financial support [4][5]. - The relief policy is seen as a step towards economic rebirth, promoting a culture of risk-taking and entrepreneurship, which is crucial for the overall economic landscape [3][4][6]. Group 3: Debt Resolution Challenges - The most challenging aspect of debt resolution currently lies within the household sector, where the financial service system is still developing and lacks depth and breadth [5]. - The personal credit relief initiative is just the beginning of a larger effort to address individual debt issues, necessitating further institutional and market developments to support personal financial recovery [5][6].