The Bankruptcy Reorganization Systemin The Context Of Supply Side Reform

At present,China's economy has entered a stage of middle-high speed growth where structural problems ineconomic development are prominent.In order to promote economic restructuring and optimize the allocation of social resources,the central government has made a major strategic deployment of the supply side reform.An important task of supply side reform is "three eliminations,one reduction and one complement" which indicates to eliminate production,inventory and leverage,to reduce costs and to make up the short board.Under the reform of supply side,the state will be able to defuse the risk of overcapacity andresolve debt risk.The state will also be able to improve the market exit mechanism and promote the rational allocation of social resources.This requires to not only deal with zombie enterprises in accordance with the law,but also to attach importance to the reorganization of barely surviving enterprises with hope.Supply side reform emphasizes the increase of institutional supply and further release of institutional effectiveness.The completion of bankruptcy reorganization system can not only improve the legal system of bankruptcy reorganization in China but also can be seen as a need to promote the supply side reform.This thesis mainly researches the bankruptcy reorganization system in the context of supply side reform from three aspects.Firstly,the second chapter reviews the history of the reorganization system while focusing on the analysis of the new demand and the latest development trend of China's bankruptcy reorganization in the context of supply side reform.It also points out the need to strengthen the top-level design of the bankruptcy reorganization system.Secondly,the third chapter illustrates the process of bankruptcy reorganization under the background of supply side reform,the specific process of bankruptcy reorganization,and the analysis of the main problems and causes of the bankruptcy reorganization system under the supply side reform.Finally,the fourth chapter underlines that under the background of supply side reform and perfect enterprise bankruptcy reorganization system there is a need ofchanging ideas and principles of bankruptcy reorganization in order to resolve the problems of the reorganization procedure.This requires the enforcement of different parties to jointly promote the reorganization of the rule of lawand the introduction of pre-reforming system in order to perfect the legal system of bankruptcy reorganization.In order to resolve the debt risk and the risk of overcapacity,it requires to increase the supply system of bankruptcy reorganization.In order to perfect the bankruptcy reorganization system,it is supposed to adhere to market-orientedrule and the principle of legalization.The reform should focus on resolving the bankruptcy reorganization and supporting mechanism.At the same time,it is also required to fit the reality of China and the construction of legal system of the pre-reforming system,to improve the bankruptcy rules in the system of bankruptcy,to promote the improvement of the legal systemin order to improve the efficiency and effectiveness of bankruptcy reorganization.