Business / Economy

China restricts defaulters from going abroad and buying tickets

By Zhao Siyuan ( Updated: 2015-09-16 15:59

More than 40 Chinese nationals with poor credit reports were barred from taking overseas trips as the nation is scrambling to crack down on debtors refusing to pay back loans.

Defiant debtors who ignore court rulings face further restrictions on their purchasing behavior, Lian Weiliang, deputy director of the National Development and Reform Commission said at a news briefing on Wednesday.

More than 2.79 million people were banned from buying air tickets as of September 5, while another 181,000 were denied the opportunity to purchase train tickets, according to China's top economic planner.

In order to cast a net on defaulters, the State Council, or the nation's cabinet, is mulling a nationwide coding system by assigning citizens, enterprises and organizations an identification card-like 18-digit code.

In November 2013, the Supreme People's Court established the blacklist database and information on defaulters, including names and identity card numbers.

Now the blacklist has been shared with banks, businesses and government bodies such as the China Securities Regulatory Commission and the Credit Reference Center at the People's Bank of China.

Hot Topics

Editor's Picks