On Bankruptcy System In China

The commodity society needs the bankrupt law system, the bankrupt law system is also an important constituent of the state economy law system, and it plays important safeguard role in market economy development. The bankrupt system and the market economy are inseparable, to establish perfect socialist market economy, we must develop a perfect bankruptcy legal framework. The present Chinese bankruptcy law system is established on the transition from the planned economy system to the market economy system. The unified bankrupt legislation of New China was On December 2, 1986, "the People's Republic of China Enterprise Bankruptcy law (Implementation)" (hereafter referred to as "Bankruptcy law") was passed on the sixth session of Standing Committee of the National People' s Congress 18th conference, and it became effective the implementation from November 1, 1988, it is the unified bankrupt legislation of New China. It made up the long-standing blank of bankrupt legislation standard from the foundation of China. With the further development and implement of the economic restruction and the socialist market economy consummation in China, as the product of planned economy, the content of the present "Bankruptcy law" can not adapt to the development of market economy in China completely and to meet the international bankrupt development tendency' s need, then it exposes its flaws day by day. This affects the correct adjustment for the bankrupt relations. In March, 1994, according to the request of eight sessions of Standing Committee of the National People's Congress legislation plan, the Finance and Economics Committee of the National People's Congress started to organized the draft work of the new bankruptcy law. After ten years hard work, "the People's Republic of China Enterprise Bankruptcy law "(it affects from June 12, 2007. Hereafter referred toas "Bankruptcy law" ) was passed on the eigth session of Standing Committee of the National People' s Congress 23th conference on August 27, 2006. Compared with the present "bankruptcy law" it realized a bigger breakthrough, the applicable scope broader, operational is stronger.Under the market economy condition, superior win and the inferior been washed out is the inevitable result of market competition. When the natural person suffers defeat in a competition, he needs the natural person bankrupt system to provide the bankrupt relief urgently, but till now, there aren' t any natural person bankrupt legal system in China. Therefore, I advocate to establish the bankrupt system for natural person when formulating the new bankrupt law standard. The author believes that, the bankrupt the system for natural person is the beginning of bankruptcy law, it is imcomplete for bankrupt law standard to remove the content of the bankrupt system for natural person. After the long-term reform and open policy and the economical development, we own the foundation conditions for establishing the bankrupt system for natural person in our country. The establishment of our own natural people bankrupt system for natural person can not only maintain social stability and the economic order, maintain the creditor and debtor' s legitimate rights and interests, the construction and consummation socialist market economy and strengthen the international economical contact, to catch up with the international rules, but also meet the needs of the implement of the credit policy , because the increasing individual transaction activities increase the probability of the natural person' s bankrupt, the implement of social security system provides the solid backing for bankrupt system for natural person. These provide some certain feasibility for the establishment of the bankrupt system for natural person in our country.The author proposed some preliminary constructing ideas for the later bankrupt system for natural person in our country, it is believed thatconsidersation of legal regulations in various countries and local areas is necessary, and then formulate some definite regulations for bankrupt problems for natural person. This article takes the present "bankruptcy law" as the basis, and refers to the new "the Bankruptcy law" in China, conducts some researches of bankrupt system for natural person in Taiwan as well as in England, America, Germany and Japan. The author believes that the conditions of application should be cleared in the bankrupt system for natural person of China, and the author believes that a clear distinction between the bankrupt property and the free property boundary. In this article, the exemption of responsibility for the bankruptcy, the establishment and perfection of restitution system of rights are suggested, and legislation principle for the bankrupt crime, the legislation style, the charge system and the penalty establishment are also elaborated.