Quake victims' debts canceled

作者：21ST　时间：2008-05-28　期号：756

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CHINA's Banking Regulatory Commission announced last Friday that it is requiring banks to cancel debts owed by Sichuan earthquake victims. If victims provide proof that they have suffered from the earthquake, and that their loss is not covered by insurance, their debts to the banks should be cancelled, said the regulatory body. The policy brings earthquake victims some relief, as some bought houses on mortgage loans but lost them during the earthquake. The policy will set a precedent for dealing with debts after natural disasters.

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