Nearly 2.5 mln credit defaulters fulfill punishments

0 Comment(s)Print E-mail Xinhua, June 9, 2018
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A total of 2.46 million credit defaulters fulfilled legal obligations, pressed by harsher punishment and restrictions, from October 2013 to May this year.

Courts across the country released lists of more than 10 million credit defaulters during the period,according to a bi-weekly consultation of China's political advisors Friday.

The courts also restricted 11.22 million defaulters from taking planes and 4.27 million from buying bullet or high-speed train tickets during the period. Industrial and commercial authorities, banks and online financial institutions also set restrictions to defaulters based on the lists.

The Supreme People's Court established an online searching system in 2014, which has helped courts nationwide discover more than 34.4 million vehicles, 67.3 billion shares of stocks and over 4.9 billion yuan (765 million U.S. dollars) of deposit in online banks up to May.

Chinese courts detained 155,000 defaulters and banned 12,400 from leaving the country in 2017. A total of 8,687 people received criminal punishments for defaulting on court orders from January 2015 to April this year.

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