Central Bank Releases One-Time Credit Repair Policy

The Zhitong Finance App learned that on December 22, the central bank issued a notice on arrangements relating to the implementation of a one-time credit repair policy. According to the content, for personal overdue information from January 1, 2020 to December 31, 2025, the basic financial credit information database will not be displayed if the individual fully repaid the overdue debt before March 31, 2026 (inclusive). Among them: (1) If an individual fully repaid an overdue debt before November 30, 2025 (inclusive), the basic financial credit information database will not display relevant overdue information from January 1, 2026; (2) if an individual fully repaid the overdue debt between December 1, 2025 and March 31, 2026, the basic financial credit information database will not display relevant overdue information until the end of the following month.

The original text is as follows:

Notice from the People's Bank of China on arrangements relating to the implementation of a one-time credit repair policy

The Shanghai headquarters of the People's Bank of China, branches and credit reporting centers in various provinces, autonomous regions, municipalities directly under the Central Government and planned separate municipalities; China Development Bank, various policy banks, state-owned commercial banks, postal savings banks of China, and various joint stock commercial banks:

The People's Bank of China decided to implement a one-time credit repair policy in order to respond positively to the subsequent impact of the COVID-19 pandemic, support individuals whose credit has been damaged but are actively making repayments efficiently and conveniently, and help the economy continue to improve. The relevant arrangements are hereby notified as follows:

I. Policy content

For personal overdue information from January 1, 2020 to December 31, 2025, the basic financial credit information database will not be displayed if the individual fully repaid the overdue debt before March 31, 2026 (inclusive). Among them:

(1) For individuals to fully repay overdue debts before November 30, 2025 (inclusive), the basic financial credit information database will not display relevant overdue information from January 1, 2026;

(2) For individuals to fully repay overdue debts between December 1, 2025 and March 31, 2026, the basic financial credit information database will not display relevant overdue information until the end of the following month.

II. Implementation methods

The Credit Reporting Center of the People's Bank of China (hereinafter referred to as the Credit Reporting Center) is responsible for organizing unified technical processing of eligible overdue information without individual application.

Individuals who discover that eligible overdue information is still displayed after the specified period of time can apply for processing to the credit reporting center through the credit reporting center's 400 customer service hotline or the credit reporting service window of the People's Bank of China in various places. After acceptance, the Credit Reporting Center shall properly complete the inspection process within 30 days in accordance with laws and regulations and the requirements of this Notice.

III. Job Requirements

(1) Strengthen coordination and implement it in an orderly manner. Credit reporting centers shall refine implementation measures, make system adjustments, and coordinate the organization of financial credit information basic database access agencies (hereinafter referred to as access agencies) to properly carry out relevant work in accordance with the requirements of this Notice. For processing applications submitted by information subjects, the credit reporting center cooperates with the access agency to establish a response processing mechanism, make timely adjustments to those that meet the policy requirements, and prepare explanations that do not meet the conditions.

(2) Increase service guarantees to respond to public concerns. Credit reporting centers should clear all online and offline inquiry channels, and access agencies should prepare for online inquiries such as online banking and mobile banking, and offline inquiries such as self-service kiosks and smart tellers to meet the public's needs to obtain credit reports and understand their own credit. The credit reporting service desk of the People's Bank of China, the credit reporting center's 400 customer service hotline, and access agencies should do a good job of publicizing and interpreting policies for individuals.

(3) Standardize business development and use information rationally. Access agencies must strictly implement the “Regulations on the Administration of the Credit Reporting Industry” and related regulations, standardize the development of credit reporting services, submit personal credit information accurately, in a timely and complete manner, and fully protect the legitimate rights and interests of individuals in credit reporting. Access agencies should continuously improve their own credit risk control capabilities, correctly interpret, independently reference, and rationally use credit information provided by basic financial credit information databases to meet the reasonable financing needs of the public in accordance with the principles of marketization and legalization.

IV. Other matters

(1) As of the publication of this notice, item 14 of the “Notice of the People's Bank of China, Ministry of Finance, Banking Insurance Regulatory Commission, Securities Regulatory Commission, Foreign Exchange Bureau on Further Strengthening Financial Support to Prevent and Control the Novel Coronavirus Pneumonia Epidemic” (Yinfa (2020) No. 29) is no longer applicable.

(2) From January 1 to June 30, 2026, personal data subjects can check their credit reports twice a year for free on the basis of free access to the basic financial credit information database, and an additional two times free of charge.

Request the Shanghai headquarters of the People's Bank of China, branches of all provinces, autonomous regions, municipalities directly under the Central Government and planned separate municipalities to organize access agencies within their jurisdiction to do relevant work.

People's Bank of China

December 19, 2025

This article was selected from the official website of the “People's Bank of China”, Zhitong Finance Editor: Feng Qiuyi.