PBOC rolls out one-off credit repair policy to help individuals rebuild credit

The People's Bank of China, the country's central bank, unveiled a one-off credit repair policy on Monday, aimed at helping individuals with impaired credit records but active repayments to rebuild their credit, thereby addressing the fallout of the COVID-19 pandemic and supporting a sustained economic recovery.

A notice released by the PBOC said that eligible personal overdue credit information will be removed from the central bank's credit reporting system after the debts are fully repaid. The policy applies to single overdue amounts of no more than 10,000 yuan ($1,420) generated between Jan 1, 2020, and Dec 31, 2025, provided the debts are fully repaid by March 31, 2026.

If repayment is completed by Nov 30, 2025, the related overdue information will be removed starting Jan 1, 2026. For debts settled between Dec 1, 2025, and March 31, 2026, the information will be removed by the end of the following month.

The central bank said eligible records will be automatically identified and processed by the credit reporting system, meaning individuals do not need to apply or submit any documents. Relevant entries in personal credit reports, including repayment status and overdue amount, will be adjusted accordingly.

The PBOC stressed that the policy is free of charge and does not involve third-party agents, warning that any requests for payment or personal information in the name of the credit repair policy constitute fraud.