The loan contract of usury is partially valid.
 After the settlement of the principal and interest of the early loan, the borrower and borrower will include the interest into the later loan principal and reissue the creditor's right certificate. If the early interest rate does not exceed four times the one-year loan market quotation rate when the contract is established, the amount stated in the reissued creditor's right certificate can be recognized as the later loan principal. The interest in excess shall not be recognized as the principal of subsequent borrowings. If the sum of the principal and interest payable by the borrower after the expiration of the loan period exceeds the sum of the interest for the entire loan period calculated on the basis of the original loan principal and the original loan principal and four times the market quoted interest rate of the one-year loan at the time of the establishment of the contract, the people's court shall not support it.
 [Legal Basis]
 Article 25 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases states that if the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds four times the market quoted interest rate for one-year loans when the contract is established.
 The term "one-year loan market quoted interest rate" as mentioned in the preceding paragraph refers to the one-year loan market quoted interest rate issued monthly by the National Interbank Funding Center authorized by the People's Bank of China as of August 20, 2019.