The Recognition And Assistance Of My Country's Cross-border Bankruptcy From The Perspective Of The “Belt And Road” Initiative

The "One Belt One Road" Initiative has attracted great attention around the world since it was put forward at the international conference.In China,the world's second largest economy,transnational investment activities happen in huge quantities,and the global capital flow increases rapidly.In the meantime,the global economic downturn brings about many cross-border insolvency cases characterized by complicated relationship and wide influence that pose big challenges to our country.Cross-border insolvency,in essence,involves the major economic interests of all related countries.While there is no unified legal system that fully governs the settlement of relevant differences and disputes.In China,the provision of "cross-border bankruptcy" is too simple and general to settle disputes and conflicts in the judicial practice of recognition and assistance of cross-border insolvency.This paper,from the perspective of "One Belt One Road",studies the deficiencies of the cross-border insolvency system in recognition and assistance in China.On this basis,this essay mainly aims to explore some solutions to this problem,including promoting cross-border insolvency international judicial cooperation and perfecting legislation so as to eventually improve the capacity of Chinese judicial system in the construction of "One Belt One Road".The introduction mainly introduces research background,significance and value,as well as innovation and insufficiency of this paper.The first chapter focuses on the concept and characteristics of cross-border insolvency and discusses the characteristics of cross-border insolvency from the perspective of “One Belt One Road”.Chapter two mainly discusses practical conflicts on the recognition and assistance of cross-border insolvency.And then analyzes UNCITRAL Model Law on Cross-border Insolvency.The third chapter introduces article 5 of the Enterprise Insolvency Law in China to analyze the deficiencies and causes of current legislation situation in our country.On the basis of current legislation situation and the basic requirement of the "one belt one road" initiative,the fourth chapter discusses the means of improving cross-border insolvency legislation in our country and proposes to build a new judicial community based on “One Belt One Road”.The conclusion part talks about the future of China's cross-border insolvency legislation.What our country needs is not the legal text of cross-border insolvency which just seems beautiful,but a cross-border insolvency legal system based on the reality of social life in our country so as to not only promote international cooperation but fully protect our own interests as well.