Deputy Governor of the Central Bank Zou Lan: One-time credit repair policy provides individuals who have previously been untrustworthy with the opportunity to correct mistakes.

Wisdom Financial APP learned that on December 22, the People's Bank of China held a press conference on the "One-time Credit Repair Policy". People's Bank of China Vice President Zou Lan stated that after the implementation of the one-time credit repair policy, it is expected to play a positive role in three aspects. At the individual level, the policy provides a chance for individuals who have previously been discredited to correct their mistakes, which helps improve the credit status of the society, stimulate the vitality of micro-subjects, and inject intrinsic power into the high-quality development of the economy. At the financial institution level, the policy helps financial institutions to more accurately identify individuals' credit status, further enhancing the quality and effectiveness of inclusive financial services. At the economic and social level, the policy is conducive to strengthening individuals' awareness of fulfilling their commitments in subsequent economic activities, effectively playing the fundamental role of the credit system in "trustworthiness incentives, dishonesty penalties", and actively building a trustworthy society.