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http://ssrn.com/abstract=1532376
 
 

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Chinese Bankruptcy Law in an Emerging Market Economy: The Shenzhen Experience


Charles D. Booth


Institute of Asian-Pacific Business Law, William S. Richardson School of Law, University of Hawaii at Manoa; University of Hawaii at Manoa - William S. Richardson School of Law

Xianchu Zhang


University of Hong Kong - Faculty of Law

2001

Columbia Journal of Asian Law, Vol. 15, No. 1, 2001

Abstract:     
In 1986, the People’s Republic of China enacted its first national bankruptcy law, the Law of the People’s Republic of China on Enterprise Bankruptcy, as part of an emerging legal framework for the country’s transition from a planned economy to a market economy. At the time of its enactment the bankruptcy law was considered a significant political and economic breakthrough that was necessary to apply some market pressure on China’s State-Owned Enterprises (“SOEs”) to force them to become more efficient. However, the rapid development of economic reforms in China soon exposed serious limitations in the bankruptcy law: This article discusses the bankruptcy law and practice in the Shenzhen Special Economic Zone, which offers an interesting and informative comparison and perhaps some lessons for China in reforming its national bankruptcy law. The article also sets out the results of a research project organized by the Faculty of Law at the University of Hong Kong and the Department of Economic Law at the China University of Politics and Law in Beijing that involved conducting interviews from February 16-18, 2000, of members of the Shenzhen judicial, legal, and political branches who are familiar with bankruptcy law and practice in Shenzhen.

Number of Pages in PDF File: 34

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Date posted: January 7, 2010 ; Last revised: March 2, 2011

Suggested Citation

Booth, Charles D. and Zhang, Xianchu, Chinese Bankruptcy Law in an Emerging Market Economy: The Shenzhen Experience (2001). Columbia Journal of Asian Law, Vol. 15, No. 1, 2001. Available at SSRN: http://ssrn.com/abstract=1532376

Contact Information

Charles D. Booth (Contact Author)
Institute of Asian-Pacific Business Law, William S. Richardson School of Law, University of Hawaii at Manoa ( email )
University of Hawai'i at Manoa
2515 Dole Street
Honolulu, HI 96822-2328
United States
University of Hawaii at Manoa - William S. Richardson School of Law ( email )
2515 Dole Street
Honolulu, HI 96822
United States
Xianchu Zhang
University of Hong Kong - Faculty of Law ( email )
Pokfulam Road
Hong Kong, Hong Kong
China
HOME PAGE: http://hub.hku.hk/rp/rp01277

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