China bankruptcy law

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The Enterprise Bankruptcy Law of the People's Republic of China (trial Implementation) was first passed in 1986. Twenty years later, the Enterprise Bankruptcy Law of the PRC was introduced on 27 August, 2006. It contains 136 articles, almost 100 more than the 1986 law and consequently it is thought be more complete legally. Nevertheless, the new law came into force on 1st June, 2007 at that time replacing the 1986 trial Bankruptcy law.

The Bankruptcy Code of PRC was adopted in 2006.8.27, and became effective since 2007.6.1

• Chapter 8 reorganization
• Chapter 9 Exemption
• Chapter 10 liquidation

The code only applies to the mainland of China. In Hong Kong, Macau, and Taiwan, there are different laws.

[edit] External links

• China's New Bankruptcy Law
• The Enterprise Bankruptcy Law of the People's Republic of China (Trial Implementation) -- passed 2 December 1989, effective until 1 June 2007
• The Enterprise Bankruptcy Law of the People's Republic of China -- passed 27 August 2006, effective 1 June 2007
• The full text of the code (Mandarin) http://www.gov.cn/ziliao/flfg/2006-08/28/content_371296.htm