Research On The Establishment Of Natural Person Bankruptcy System In My Country

With the development of China's economy,market activities are showing an active state,which has also led to the birth of a large number of enterprises.However,when many companies face corporate debt,the company executives and shareholders often assume the responsibility of guarantee as corporate debt,so when the company faces bankruptcy,it often bears a large amount of debt burden left over by bankruptcy,and thus a large number of companies face bankruptcy pressure Should not retreat.The reason for this is the lack of a bankruptcy system for natural persons in China.Since July 2019,the Development and Reform Commission and other 13 departments issued the “Accelerating the Improvement of the Reform Scheme for the Exit of Market Subjects”,and some local courts have conducted preliminary trials of natural person bankruptcy cases,marking the passage of the era of no natural person bankruptcy system in China.As the market's call for the bankruptcy system of natural persons grows louder,it is imperative to promote the application of the system throughout the country.Judging from the advantages of the natural person bankruptcy system,it is necessary and urgent to establish a natural person bankruptcy system in China.The construction of the bankruptcy system for natural persons in China should combine the current economic and social development and scientific and technological changes,draw on the existing system cases in foreign countries,design the bankruptcy exemption system,bankruptcy loss of power,summary procedures,bankruptcy invalidation and revocation rights,and build a supporting system for natural person bankruptcy.