On The Construction Of Individual Bankruptcy System In Mainland China

In the booming market economy country, personal bankruptcy has been used as a general bankruptcy system, and has a long history of development. The enterprise bankruptcy law had expanded to apply to the subject of bankruptcy for all types of legal in Augest 2006 from1985 in china. It is an excellent progres in the bankruptcy system,and play an important role in promoting the development of China’s marketing economy, but the scope limited to corporate, does not apply to another economic organization and individuals. This is still a great missing of our bankruptcy system. Continue to improve due to continued healthy development of economy and the laws and regulations,this is more urgengt requirement on the construction of personal bankruptcy system; meanwhile,personal and business entities are not equal in legal protection in the face of debt distress in market. Due to imperfect of bankruptcy system, lead to the lack of personal out of the market mechanism and legal protection, Such a bankruptcy system has been far from meeting the needs of the market economic development. Hong Kong is an economic and financial center in the global, It is inextricably linked in well-developed market economy and a sound legal system and improve the bankruptcy system. The article will refer the personal bankruptcy system of Hong Kong.In terms of Hong Kong in the bankruptcy legislation and practice in bankruptcy bankruptcy system conditions, procedures and the consequences after bankruptcy were analyzed.To explore the possibility and necessity on the construction of personal bankruptcy system in the Mainland, and make some recommendations on substantive and procedural institutional Construction of personal bankruptcy system.