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- Title
An Anatomy of the First Personal Bankruptcy Legislation in China.
- Authors
Fuyong Ou; Xiaoxiao Zhang
- Abstract
The city of Shenzhen enacted the first personal bankruptcy legislation in China, setting up a regional experiment for future national legislation, This article presents the structure and the history Of the Regulations of Shenzhen Special Economic Zone on Personal Bankruptcy and analyzes the legislation's content under the fabric of the World Bank's Report on the Treatment of the Insolvency of Natural Persons. The Shenzhen Regulation adopts many universally accepted practices, but its mechanisms reflect tailoring of some mechanisms to reflect special needs arising from its unique local background. While the Shenzhen Regulation advances China towards a salient personal bankruptcy system, it still is too early to determine whether any national bankruptcy legislation in China will adopt its principles of Framework in whole or in part.
- Subjects
SHENZHEN (Guangdong Sheng, China : East); CHINA; PERSONAL bankruptcy; BANKRUPTCY; SPECIAL economic zones
- Publication
American Bankruptcy Law Journal, 2022, Vol 96, Issue 3, p587
- ISSN
0027-9048
- Publication type
Article