The Linkage Mechanism Of Government And Court In Credit Repair Of Corporation Reorganization In China—Problems And Countermeasures

In the past two years,the number of bankrupt enterprises has increased.In order to protect the development of enterprises and ensure the stability of the economic situation,China encourages enterprises to seek reorganization and help them rebirth.In the process of reorganization of many enterprises,they are generally faced with various social derivative problems such as credit repair.In order to solve such problems,China has launched a linkage mechanism between the government and the court.The linkage mechanism of the government and the court is a mechanism in which the government is responsible for coordinating the administrative affairs related to bankruptcy,and the court make sure the judicial procedure of bankruptcy is going on.In this mechanism,the government and the court jointly made efforts to save the enterprises on the verge of bankruptcy,which partly improved the success rate of reorganization,provided a more flexible solution for some implementation problems,and also rescued some zombie enterprises.When we talk about the linkage mechanism of the government and the court in the process of credit repair,it means the government and the court is trying to clean the path for enterprise to realize credit repair.For example,it coordinates with financial institutions,tax authorities and other subjects to promote their cooperation in enterprise credit repair affairs.However,due to the lack of system and imperfect supporting facilities,the linkage mechanism of the government and court has shown problems.Including the problems of unclear rights and responsibilities of the government and the court,and the inadequate cooperation of various executive brunches,in order to continue to promote the reorganization of bankrupt enterprises,all these problems need to be properly solved.This paper showed the analysis of the above problems through the history of the Enterprise Bankruptcy Law and the present situation:The government has played a guiding role in bankruptcy reorganization for a long time,and even confused the identity with the trustee,leading to the erosion of judicial power,causing the administration of judicial power,and also affecting the independence of the trustee status.In addition,some local governments do not pay enough attention to the reorganization of enterprises,and are completely in a passive position,leading to the loss of its position.As for the problem of imperfect credit repair mechanism,this paper explores the enlightenment for the further development of credit repair in China,combined with the existing credit repair in China,and the implementation of credit repair in China,that is,we should improve the credit repair laws and regulations and improve the supporting mechanism of credit repair.Through the above problem analysis,And draw lessons from the innovation practices and innovation norms of various regions in China.This paper gives some countermeasures for each problem:the boundary between the government and the market should be clear,regulating government behavior through detailed implementation rules,clarifying the dominance of the court in the reorganization process,and give full play to the role of the manager;The People’s Bank of China,tax authorities and courts shall improve and unify the supporting system,develop more detailed and actionable regulations;The National Development and Reform Commission and other agencies should guide the establishment of a protection mechanism for protecting the rights and interests of trust-breakers,business administration departments and other departments should improve the market risk early warning mechanism,the credit information responsible institution shall upgrade the credit information publicity and sharing system,improve social trust in reorganized enterprises.The exploration of the linkage mechanism of government and court is helpful to improve the reorganization norms of Chinese enterprises,promote the development of credit repair system,and further optimize the business environment in China.