The Perfection Of The System Of Extraterritorial Effect Of China’s Foreign Bankruptcy Judgment

The issue of the extraterritorial effectiveness of foreign-related bankruptcy cases has attracted increasing attention worldwide.As the second largest economy in the world,with the series of achievements of the opening-up policy and the steady advancement of the “Belt and Road” initiative,China has not only attracted many multinational companies to invest and set up factories in China,but also many Chinese companies have gone abroad.Foreign investment.China’s current law provides a general summary of the extraterritorial effectiveness of foreign-related bankruptcy cases.The lack of perfect legal requirements has become a major obstacle to China’s economic development and exchanges with other national and commercial affairs.In the current era,the solution to this problem Further implementation of the national macro strategy.China’s existing regulations have made some progress compared with the past,but there are still many issues that need to be resolved.For example,the current law is only a principled provision and is more general and lacks operability.At present,the issue of the extraterritorial validity of foreign bankruptcy cases The attitude is still relatively conservative and it is difficult to adapt to the current international trend.The parties to the bankruptcy case are pessimistic about the expectation of judicial cooperation in China.They have signed bilateral agreements with only a few countries,and the content of the agreements is not uniform,which increases the difficulty of practical application.In judicial practice Some clauses are formal and fail to play their intended role.In view of the current problems in China,by analyzing the conditions and procedures of foreign-related bankruptcy,the typical cases of foreign-related bankruptcy related to China so far,as well as the experience of countries with more perfect mutual legal assistance systems in civil and commercial affairs,the European Union and the United States have learned from the experience of foreign countries.Improve bankruptcy legislation,build judicial information sharing mechanisms,promote regional and foreign bankruptcy cooperation,reform China’s current review system,and play the role of the Supreme People’s Court’s guiding case to build a judicial system that is in line with the current era of cooperation and win-win situation.Mutual assistance mechanism.