The Reflection On The Establishing Personal Bankruptcy System In China

With the rapid development of economy in China and people's pursuit and yearning for a better life,more and more natural persons are involved in business activities and credit consumption.While the market economy brings opportunities and rewards to people,individuals may also face bankruptcy risks at any time due to weak management ability,poor risk identification ability,market cycle fluctuation,natural disasters and other reasons.Look back the development process of the bankruptcy law of each country.Starting from the second half of the 20 th century and due to the continuous development of economy,the change of the social situation,the concept of human rights promotion,the construction of personal bankruptcy system idea started to tilt from the complete protection of creditors to debtors and paid attention to the balance of creditors,the debtor and the interests of the whole society.Most developed countries and regions have also established the bankruptcy system based on the legislative model of "General Bankruptcy Doctrine".Unfortunately,the system of personal bankruptcy has not been established in China.With the study and exploration in political circle,academic circle and practical circle for many years,the consensus has been reached on the establishing of personal bankruptcy system.On July 1st of 2019,the National Development and Reform Commission,the Supreme People's Court and other sectors jointly issued the “Reform Plan for Accelerating to Improve the Withdrawal System for Market Entities”.This reform plan particularly proposes to establish,improve and ultimately build the comprehensive personal bankruptcy system.Based on the historical origin and basic theory of the bankruptcy law,taking example from the practices of foreign countries,Taiwan region and the Hong Kong special administrative region,this paper discusses the necessity and practical basis of establishing the personal bankruptcy system and puts forward some suggestions on the legislative path.This paper is divided into five parts.The first part is the introduction of the research background and value,research status at home and abroad.The first chapter is an overview of the legal system of personal bankruptcy.It discusses the legal definition and legal characteristics and summarizes the definition of personal bankruptcy.Through the evolution of the personal bankruptcy system,the legislation of the personal bankruptcy system has become a trend,which paves the way for the discussion of the necessity and realistic basis of establishing the personal bankruptcy system in China.The second chapter analyzes the necessity of establishing personal bankruptcy system from the aspects of solving the dilemma of "difficult execution" and "unable execution",perfecting the bankruptcy legal system and market economy system,changing the business environment and encouraging innovation and entrepreneurship,adapting to the changes of consumer credit structure in China and resisting major risks and so on.The third chapter illustrates the realistic basis of the personal bankruptcy system through the improvement of the personal credit system and the progress of science and technology,the perfection of the legal system and the change of people's thoughts,the judicial practice and experience at home and abroad and so on.The fourth chapter analyzes the legislative style and legislative choice of the individual bankruptcy system,and analyzes the core legal systems such as exemption from bankruptcy,free property,right loss and right recovery and personal bankruptcy reconciliation and so on.Finally,the construction of the personal bankruptcy system is a systematic work involving a wide range,great influence and high difficulty,and it is proposed that in the actual legislation,the personal bankruptcy system of our country should be implemented in accordance with the national conditions of our country,and should be carried out according to the subject and region,and by stages.