Study On Natural Person Bankruptcy Legal System In China

Bankruptcy legal system, which emerged in response to needs of the commercial society, has become an essential part of the national economic legal system and played a very positive role in guaranteeing the development of commercial economy. As a significant component of bankruptcy legal system, Natural Person Bankruptcy System came into being along with the rapid development of commodity exchange in market economy, and has been widely accepted among most countries of the world since its appearance. In China, "the People's Republic of China on Enterprise Bankruptcy Law" has been implemented on June 1, 2007. However, the law has not been applied to natural person, which should be a drawback of Chinese bankruptcy legal system.This thesis intends to contribute to constructing natural person bankruptcy legal system suitable for China. After theoretical and practical analysis on the necessity and feasibility of natural person bankruptcy legal system in China based on its specific circumstances, the thesis puts forward advice on legislation in both substantive and procedural aspects in order to make theoretical preparation for the construction of Chinese Natural Person Bankruptcy Legal System.In the preface part, the thesis expounds the necessity of having Chinese Natural Person Bankruptcy Legal System, introduces related theoretical concepts like the definition and history of individual bankruptcy, as well as its difference from legal entity bankruptcy, and points out the necessity and feasibility of natural person bankruptcy legal system in China. In the body part, the author proposes several suggestions on the construction of substantive systems like Free Property System, Bankruptcy Disclaimer System, Bankruptcy Losing Right and Rehabilitation System, and procedural systems like Summary Procedure System and Bankruptcy Reconciliation System. In the conclusion part, the author restates that Natural Person Bankruptcy Legal System has become a must trend in the development of China bankruptcy legal system construction, and argues that China should structure its own natural person bankruptcy legal system in line with its specific national conditions.