Deputy Governor of the Central Bank, Zou Lan: The one-time credit repair policy provides individuals who have previously breached trust with an opportunity for rectification.

Deputy Governor of the People's Bank of China, Zou Lan, stated today at a news conference on the one-time credit repair policy that the policy is expected to play a positive role on three levels. At the individual level, the policy provides a chance for individuals who have previously been untrustworthy to correct their mistakes, helping to effectively improve the credit status of the public and stimulate the vitality of micro-subjects, injecting intrinsic motivation for high-quality economic development. At the financial institution level, the policy helps financial institutions to more accurately identify individual credit conditions, further enhancing the quality and efficiency of inclusive financial services. At the economic and social level, the policy is beneficial for strengthening individuals' awareness of fulfilling commitments in subsequent economic activities, effectively playing a foundational role in credit incentives and penalties, actively constructing a society where honesty and kindness are valued.