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Bankruptcy laws in China: main stages of development
Strelkova Irina Ivanovna

PhD in Law

Associate professor of the Department of Civil Law Disciplines at Noso Magnitogorosk State Technical University. 

455000, Russia, Chelyabinskaya oblast', g. Magnitogorsk, Lenina, 38

strigul68@mail.ru
Другие публикации этого автора
 

 

Abstract.

The research subject is bankruptcy laws in China, interpretations of people’s courts of China and scholar articles by Russian and foreign authors in this sphere. The research object is legal regulation of bankruptcy in the People’s Republic of China in its development. The author considers such aspects of the topic as the influence of China’s economic policy on law making in this sphere, the impact of foreign law, the peculiarities and problems of legal regulation of bankruptcy on different stages of development of the country’s political and economic systems. Special attention is given to the modern stage of development of China’s bankruptcy laws and the scope of the current Law on business bankruptcy. The research methodology includes the complex analysis of the legislation of the People’s Republic of China, regulating bankruptcy, using the comparative-legal, comparative-historical and formal-legal methods. The scientific novelty consists in the description of the development of bankruptcy in the historical and comparative-legal aspect from the position of the state’s economic policy in different periods of its development. The author outlines three main stages of development of bankruptcy laws: from the early 20th century to the establishment of the People’s Republic of China; the period of economic reforms from 1978 till 2006; the recent stage of bankruptcy regulation in accordance with the “Law on business bankruptcy”. Each of these stages reflects the socio-economic aspects of China’s politics and the impact of the experience of bankruptcy regulation in different countries, especially in the U.S. The author prognosticates the further development of the bankruptcy institution in the direction connected with the extension of the range of debtors, covered by bankruptcy laws, by the inclusion of private entrepreneurs.  

Keywords: People’s Court, Bankruptcy Law, economic reforms, legislation, China, financial insolvency, bankruptcy, bankruptcy procedures, enterprise, personal bankruptcy

DOI:

10.7256/2409-7136.2017.1.18718

Article was received:

10-04-2016


Review date:

11-04-2016


Publish date:

28-01-2017


This article written in Russian. You can find full text of article in Russian here .

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