China restricts 17.46 million overdue debtors from taking flights

Source:Global Times Published: 2019/2/28 16:13:40

Chinese courts nationwide published 12.88 million examples of overdue debtors at the end of 2018, restricting 17.46 million people from taking flights and some 5.47 million people from making high-speed train trips, which some industry insiders said signaled a significant step toward the country's plan to build a national social credit system by 2020.

Such restrictions on dishonest entities have already had an effect, as another 3.51 million overdue debtors had repaid their debts due to the credit penalties as of the end of 2018, according to a report released by the Supreme People's Court of China on Wednesday.

The Supreme People's Court of China started to advance the overdue debtor system in 2013 with the aim of pushing forward punishment of overdue debtors.

In 2016, the court signed agreements with about 60 ministries and relevant departments including the National Development and Reform Commission, the country's economic planner, to jointly promote the establishment of a mechanism that supervises, warns and punishes overdue debtors, chinanews.com reported. 

The mechanism includes 150 punishment measures such as prohibiting defaulters from holding public office, serving as representatives of the National People's Congress and as members of Chinese People's Political Consultative Conference. 

They are also restricted in traveling by planes and high-speed trains, purchasing property, making investments and bidding and tendering, the report said.



Posted in: ECONOMY

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