Research On The Establishment Of Individual Bankruptcy System In China

Individual bankruptcy is generally adopted by most of countries. The new EnterpriseBankruptcy Law of the People's Republic of China which was promulgated on August, 2006extends the subject of bankruptcy to all types of legal persons which make the bankruptcysystem of our country step out a stride. However, in China, the Bankruptcy Law system ofIndividuals still remains blank. This is far from the needs of the development of our country'smarket economy. Under the regulation of marketing competition, the Phenomenon ofindividual bankruptcy will be inevitable in every country. The Bankruptcy system at present,which only regu1ates the bankruptcy of corporation or legal person, is far from the needs ofthe development of our country's Marketing Economic System. Constructed China'sindividual bankrupt system already appeared more and more urgent. The paper firstelaborated individual bankrupt system's implication, the characteristic, the function as well asthe historical evolution and so on elementary theory, subsequently emphatically analyzed hasconstructed individual bankrupt system's necessity and the feasibility in our country, andthrough the perspective of comparison, recall that the study, including Britain, the UnitedStates, Germany, Japan and other countries outside the main characteristics of the individualbankruptcy system as a basis, unified our country's realistic linguistic environment, toconstructed our country's individual bankrupt system to propose the rationalizationconception. Manifests specifically in individual bankrupt reason system, the free propertysystem, the bankruptcy loses power with the rehabilitation system, bankrupt reconciliationprocedure being suitable, aspects and so on bankrupt relief system.