{"id":648534,"date":"2025-12-22T15:44:28","date_gmt":"2025-12-22T15:44:28","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/648534\/"},"modified":"2025-12-22T15:44:28","modified_gmt":"2025-12-22T15:44:28","slug":"china-to-hide-bad-debt-records-for-pandemic-hit-borrowers-who-repay-small-loans","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/648534\/","title":{"rendered":"China to hide bad debt records for pandemic-hit borrowers who repay small loans"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">China\u2019s central bank has unveiled a credit-rehabilitation policy to help individuals who defaulted on small loans rebuild their financial standing \u2013 part of a broader push to bolster the economy and repair household balance sheets.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The People\u2019s Bank of China said the measure targets borrowers with a single instance of overdue debt incurred between 2020 and 2025 and not exceeding 10,000 yuan (US$1,421). If the debt is fully repaid by March 31, the default record will be hidden from credit reports.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cThe policy was introduced to help pandemic-hit borrowers, who are actively repaying their loans, rebuild their credit swiftly,\u201d the PBOC said in a statement on Monday, adding that the move aims to address the Covid-19 pandemic\u2019s lasting economic fallout.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The policy will be automatically administered by the central bank\u2019s credit reference centre, requiring no individual applications, and is due to be implemented in phases starting in 2026.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">One of the central bank\u2019s deputy governors, Zou Lan, said at a press briefing on Monday that while many borrowers affected by pandemic-related hardships have since repaid their debts, delinquency records remain on their credit reports, continuing to hinder access to new loans.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The new measure supports economic growth by invigorating grass-roots economic activity and helping financial institutions assess creditworthiness more accurately, Zou said.<\/p>\n<p><img decoding=\"async\" data-qa=\"BaseImage-handleRenderImage-StyledImage\" class=\"e1o401188 css-1w1l3op e445x7d0\" loading=\"lazy\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/12\/1766418268_643_maxresdefault.jpg\"\/><\/p>\n<p data-qa=\"SCMPYoutubeVideoPreview-PreviewDuration\" class=\"css-1vqvq42 e1o401181\">03:21<\/p>\n<p data-qa=\"SCMPYoutubeVideoPreview-PreviewTitle\" class=\"css-zasw6y e1o401182\">China\u2019s youth unemployment soars to 2-year high as job crunch deepens<\/p>\n<p>China\u2019s youth unemployment soars to 2-year high as job crunch deepens<\/p>\n","protected":false},"excerpt":{"rendered":"China\u2019s central bank has unveiled a credit-rehabilitation policy to help individuals who defaulted on small loans rebuild their&hellip;\n","protected":false},"author":2,"featured_media":648535,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[198738,3662,51,1395,14785,1700,29884,189025,29761,48584,16,15,44067,198740,198739,101100],"class_list":{"0":"post-648534","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-beijing-javy-law-firm","9":"tag-bloomberg","10":"tag-business","11":"tag-china","12":"tag-covid-19-pandemic","13":"tag-economy","14":"tag-fitch-ratings","15":"tag-pan-gongsheng","16":"tag-pboc","17":"tag-peoples-bank-of-china","18":"tag-uk","19":"tag-united-kingdom","20":"tag-xinhua","21":"tag-yicai","22":"tag-zhao-zhanling","23":"tag-zou-lan"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115763994951892393","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/648534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=648534"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/648534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/648535"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=648534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=648534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=648534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}