Caixin
Jun 22, 2022 08:13 PM
CHINA

China’s Courts May Be Given More Tools to Deal With Debt Defaulters Who Ignore Rulings

The draft could significantly increase the moral, economic and legal costs placed on dishonest debtors, experts said. Photo: VCG
The draft could significantly increase the moral, economic and legal costs placed on dishonest debtors, experts said. Photo: VCG

China’s top lawmakers are deliberating a draft law that will allow courts to prohibit debt defaulters from buying goods considered luxury or “unnecessary.” It will also give courts the power to restrict violators of court orders from leaving the country.

The draft law was submitted Tuesday by the country’s top court for the first reading in the ongoing session of the Standing Committee of the 13th National People’s Congress. Drafts regularly go through three readings before being passed by the legislature.

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