Harsher restrictions posed for defaulters in China  

“老赖”禁乘飞机限办信用卡

(ECNS)-- People who fail to fulfill court-ordered debt obligations in China will be banned from taking flights and getting credit cards, the Beijing News said on Friday, citing an official memorandum.

Jointly launched by eight departments including the Supreme People's Court, the Ministry of Public Security, the Civil Aviation Administration, and the China Banking Regulatory Commission, the memorandum has been designed to pose harsher restrictions on dishonest people.

They will be banned from flying and traveling in upper-class sleeper train compartments, as well as taking positions as legal representatives, members of a board, member of a board of supervisors, or senior executives.

Defaulters will also face constraints when applying for loans or credit cards.

Over 70 percent of debtors in China fail to meet their obligations, which "impacts the healthy development of our society," said Jiang Bixin, vice-president of the Supreme People's Court.

As of Wednesday, there were 55,920 on the court's blacklist of defaulters, about 46,500 individuals and 9,400 corporations.