From Economic Observer Online: Throughout 2008, only 3,500 enterprises formally filed for bankruptcy in China. Hiding behind this tiny number however is the approximately 800,000 businesses that exited the market by either...
From Xinhua: A special ordinance on the bankruptcy of banking and financial institutions is being devised so as to establish a market-oriented bail-out mechanism, according to the China Banking Regulatory Commission (CBRC). The...
From Reuters: China’s parliament adopted a long-awaited corporate bankruptcy law on Sunday, aiming to protect both creditors and workers of bankrupt enterprises, Xinhua news agency reported. The bankruptcy law, which will come into effect on June 1, 2007, has taken 12 years to make its way through the legislative process in the National People’s Congress […]
From VOICE OF AMERICA: After 10 years of debate, China is close to enacting a bankruptcy law, a measure intended to raise investor confidence. But it could also be the long-awaited key to unlocking the debt problem burdening China’s banks. The National People’s Congress is expected to take up the bill at its session beginning […]
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