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PBOC Announces One-Time Credit Repair Policy to Support Post-Pandemic Credit Reconstruction

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The People's Bank of China has introduced a one-time credit repair policy to aid those affected by the pandemic, focusing on regulatory policy adjustments. From January 1, 2020, to December 31, 2025, overdue amounts under 10,000 RMB fully repaid by March 31, 2026, will be removed. The policy aligns with broader efforts in Countering the Financing of Terrorism and financial system stability. The Credit Reference Center will handle the process automatically, with implementation starting in 2026. Two extra free credit report queries will be available in 2026.
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