On The Construction Of Personal Bankruptcy Legal System In China

It has been 14 years since the implementation of the enterprise bankruptcy law in2007.Due to the lack of the legal system of personal bankruptcy,the withdrawal mechanism of market subjects in China has not been perfect.With the development of economy and society,more and more individuals are unable to pay off due debts or stop paying due debts.Especially in 2020,novel coronavirus pneumonia caused many enterprises to be trapped in the dilemma of continuous operation and survival.In the wave of nationwide stoppage and shutdown,many individuals and families were over indebted.The construction of personal bankruptcy legal system is the inevitable requirement of perfecting the bankruptcy legal system of our country,and it is also the due meaning of perfecting the socialist legal system with Chinese characteristics.It will provide corresponding solutions and legal ways for the new economic problems in real life.By studying the relevant literature,this paper sorts out the controversial points in the current research on the legal system of personal bankruptcy in China,expounds the connotation of "individual" in the context of bankruptcy,compares the differences between personal bankruptcy and enterprise bankruptcy,and introduces the current situation of legislation and judicial practice of personal bankruptcy in China.At the same time,it focuses on the function of China’s personal bankruptcy legal system.From the perspective of necessity,the establishment of China’s personal bankruptcy legal system is an inevitable choice to optimize the business environment,make up for the lack of alternative system,crack the "difficult implementation",link up with the "Civil Code" and deal with sudden natural disasters;From the perspective of feasibility,the development of market economy has laid the material and ideological foundation,provided the institutional conditions for the improvement of credit investigation and other supporting systems,accumulated experience in judicial practice since the implementation of the enterprise bankruptcy law,obtained a large number of research results in academic years of theoretical exploration,and provided reference for foreign rich legislative experience.Through the investigation and analysis of foreign personal bankruptcy law,starting from the legislative examples of typical countries’ personal bankruptcy law,this paper makes an in-depth investigation and analysis of the legislative mode and specific system,and puts forward some suggestions on the construction of China’s personal bankruptcy legal system in combination with China’s national conditions,the personal bankruptcy regulations of Shenzhen Special Economic Zone and foreign legislative examples,It includes the establishment of a unified legislative style of bankruptcy code,the adoption of the general bankruptcy legislative model,the establishment of free property system,bankruptcy exemption system,loss of rights and restoration of rights system in the substantive legal system,the establishment of out of court reconciliation procedure as the pre procedure in the procedural legal system,and the priority of "small bankruptcy" procedure.