This fascinating study uses qualitative and quantitative data and insights from interviews with judges, lawyers, government officials, entrepreneurs, bankers, consultants, and academics in China and abroad, to provide a new perspective on the problems that have hindered the implementation of the Enterprise Bankruptcy Law in China, and recent attempts at reform. The analysis provides unique insights into China's business world and its interaction with the judicial and political system in China. In addition, the book also provides important information about how the Enterprise Bankruptcy Law affects foreign companies, agencies and governments that are active in China. The author draws on empirical data, decided cases and her experience of how the law and surrounding practices deal with foreign stakeholders whose interests are affected by corporate bankruptcy in China. The book will improve understanding of how China's corporate bankruptcy law has been used in practice, what has limited its practical effectiveness, whether it is desirable for the law to be used more readily in China, and the possible options for its reform.

The authors provide a systematic review of the Chinese Enterprise Bankruptcy Law's major provisions, from the comparative perspective of the U.S. Bankruptcy Code in particular. They provide not only a nuanced understanding of the law, but also insights and practical recommendations on its meaning and possible application.

China has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law drawing inspiration from mature insolvency systems. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s reformed legal bankruptcy system by introducing the framework and analyzing typical cases which have been or are being heard since the new bankruptcy law was operational. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.

Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.

Examines China's 'going out' policy by addressing the ways in which the underpinning legal reforms enable China to pursue its core interests and broad international responsibilities as a rising power. The contributors consider China's civil and commercial law reforms against the economic backdrop of an outflow of Chinese capital into strategic assets outside her own borders. This movement of capital has become an intriguing phenomenon for both ongoing economic reform and its largely unheralded underpinning law reforms.

Best Practices for Bankruptcy Law in China is an authoritative, insiders perspective on key strategies for representing distressed companies during bankruptcy proceedings in China. Featuring partners from some of Chinas leading law firms, these experts guide the reader through the various steps involved when handling a bankruptcy case, including conducting initial research, filing the bankruptcy petition, navigating the creditors meeting, and developing a plan for the disposal and distribution of assets. These top lawyers reveal their advice on communicating with government agencies, complying with documentation requirements, securing local alliances, and overcoming language barriers. From detailing the history of bankruptcy in China to identifying the elements driving change, these authors offer a comprehensive analysis of how the old bankruptcy laws compare with the new legislation. Additionally, this book discusses the differences between practicing bankruptcy law in China and practicing in Western nations, and forecasts what is in store for Chinas future when it comes to bankruptcies. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts around the keys to navigating this ever-evolving area of law in China.