China's economy is slowing down and its credit risk is rising. The unspoken rule of rigid honoring has become a great obstacle to market clearing. ANBOUND research team points out that breaking rigid honoring has become a common view of trust industry. The regulators should promote it from top to bottom and make this unspoken rule clear. Legalization and marketization are the best way to deal with risks, protect interests of all the parties. Breaking the rigid honoring and the way to break it will be an important test for China’s market-oriented reform.