The central bank reminds: This policy is about to expire! Everyone, hurry up and complete the process!

@everyone!

The People’s Bank of China’s one-time credit restoration policy for individuals

March 31, 2026

For the final deadline of the policy

Overdue records that meet the requirements

Freely removed, no application needed, automatically restored

Overdue debts not fully settled

Will automatically lose the opportunity to restore credit this time

The specifics are as follows

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Previously reported—

01

The one-time credit restoration policy has officially been implemented

Multiple netizens shared screenshots of their credit reports

To support individuals whose credit has been harmed but who are actively repaying, and to help them efficiently and conveniently rebuild their credit, as well as to support the economy’s sustained recovery for the better, the People’s Bank of China recently issued a notice—between 2020 and 2025, for individual overdue information involving a single case of no more than 10,000 yuan, if the individual settles the overdue amount by March 31, 2026, the overdue information will not be shown.

As the new credit restoration policy moves into the implementation stage, more and more users have verified the policy’s effectiveness through actual operations. A user in Guangdong shared on a social platform that their credit report has already been “updated,” and the number of accounts that previously showed overdue records changed from 2 to 0. There are also users in Henan who queried their credit and then posted online, saying plainly, “I’m among the first batch of people whose credit reports got updated.”

△ A screenshot of a credit report shared by a netizen

According to information, the one-time credit restoration policy introduced this time is not applicable to all types of overdue credit situations, and the restoration must specifically meet the following four conditions.

The scope of eligible persons is limited to overdue credit information displayed in the People’s Bank of China’s credit information system for individuals;

The time window requires that the overdue information must have arisen between January 1, 2020, and December 31, 2025, and overdue information generated in 2026 is not included;

The applicable amount is that the overdue amount in a single case does not exceed 10,000 yuan;

The prerequisite is that the individual fully repays the overdue debts by March 31, 2026 (inclusive).

Previously, Dai Wei, president of the Bank of Beijing, provided an example explanation: taking an equal principal and interest loan with monthly repayments of 1,000 yuan as an example, if as of December 31, 2025 there is still 2,000 yuan in overdue debt, then the borrower needs to settle both the previous overdue debt of 2,000 yuan and the monthly repayment due of 1,000 yuan by January 10, 2026, totaling 3,000 yuan.

However, in practice, other cost factors such as loan interest and overdue penalty interest also need to be considered, and the final amount to be repaid will be determined accordingly.

02

Not displaying bad records does not mean deletion

Actively repaying is a prerequisite for credit restoration

After the policy is implemented, the repayment status in an individual’s credit report will be adjusted from an overdue indicator to a normal indicator.

For financial credit information foundation databases in which an individual fully repaid the overdue debts on or before November 30, 2025 (inclusive), the related overdue information will not be displayed starting from January 1, 2026;

For individuals who fully repay overdue debts between December 1, 2025, and March 31, 2026 (inclusive), the financial credit information foundation database will not display the related overdue information by the end of the following month.

Yuan Yufei, an associate professor at the School of International Economics and Business, University of International Business and Economics, explained that withholding the display of bad credit records is not about breaking rigid frameworks. The prerequisite for restoration is to actively complete repayment obligations.

“Nothing about the principles of the current credit management system is changed by this policy. Credit records are just no longer visible; they do not disappear. The underlying data still exists. For those who have defaulted on large amounts, the existing management approach will not change.”

In addition, the one-time credit restoration policy is “eligible and benefit without applying.” Individuals do not need to apply or take actions; those that meet the requirements are processed automatically by the system and no fees are charged. There’s no need for third-party agents—be cautious to avoid being scammed. As a supporting benefit of the one-time credit restoration policy, the People’s Bank of China has also added an opportunity for free credit report inquiries for individuals, allowing everyone to promptly verify overdue records and confirm the progress of restoration.

The one-time credit restoration policy adheres to three major principles: “a certain time limit, a certain amount, and certain conditions.” In the view of Wan Zhe, a professor at Beijing Normal University and an economics expert, the policy is reasonable and appropriately scaled. It both reflects the warmth that finance should have and closes potential loopholes that credit restoration may create.

“Through dynamic and precise reflection of financial conditions, it strengthens the principle of balancing strictness and leniency, and can also balance financial risk prevention and control with social fairness. By using technological means for automatic identification and handling, it maintains order in the credit reporting market, helps individuals with damaged credit rebuild their credit, and restores their financing capability—thereby better promoting consumption and investment and supporting the economy’s sustained recovery for the better.” Wan Zhe explained.

03

One-time credit restoration ≠ “credit washing” by clearing credit reports

What impact will the new credit restoration policy have?

In the past, once an adverse credit record was generated, residents’ personal lives could be restricted in multiple areas such as loans, job hunting, renting housing, and traveling, and this impact could last for years.

Dong Huimiao, an industry expert, believes that the implementation of the policy will help break the dilemma of “once you are dishonest, you are restricted for life.” “The policy clearly conveys a signal: within a certain time frame, if you actively fulfill obligations and correct mistakes, your credit can be restored. This will encourage individuals to proactively repay debts and address credit issues left over from the past, instead of ‘giving up and going down with the ship.’ Good credit is the foundation for citizens to enjoy financial services. Restoring credit means regaining a person’s financial ‘pass,’ which helps improve their lives and realize personal development.”

Dong Huimiao said that the new credit restoration policy not only benefits individuals, but also has positive significance for financial institutions. “Helping borrowers restore their credit essentially encourages them to repay overdue debts, which may help banks recover overdue loans, improve asset quality, and further promote the development of inclusive finance. Financial institutions will bring those former defaulters who have already restored their credit back into the service scope, helping to expand the customer base with growth potential.”

In an interview, Yuan Yufei, an associate professor at the School of International Economics and Business, University of International Business and Economics, mentioned that if you want to obtain a loan from a bank—whether it’s a small loan, a housing loan, an auto loan, or an emergency loan—the bank will refer to your personal credit record. If your personal credit record is poor, in the light case the interest rate may be increased, making borrowing costs higher; in the worst case, you may not be able to obtain a loan again.

Dong Huimiao reminded that it needs to be emphasized that the one-time credit restoration policy launched by the People’s Bank of China is not “credit washing.” “The core goal of the policy is to educate and provide relief for groups that are not malicious defaulters (such as overdue caused by serious illness, carelessness, etc.), rather than to shield or tolerate ‘old debtors.’ Therefore, the relatively strict limitation conditions set for this credit restoration are absolutely necessary.”

Source: Oriental Network, compiling CCTV News, Daily Economic News, and the People’s Bank of China

来源：东方网