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Hastings International and Comparative Law Review

Authors

Shirley S. Cho

Abstract

Critics view the 1986 Enterprise Bankruptcy Law (Bankruptcy Law) of the People's Republic of China as an ineffective piece of legislation passed more for symbolic ends than as a means to deal with systemic economic problems plaguing China. However, the Bankruptcy Law has proven to be one of the most pivotal pieces of legislation in modern Chinese history and has served as the main impetus for wide-reaching reform in major sectors of the Chinese economy.

This Note examines the debate surrounding the Bankruptcy Law from its inception, its controversial substantive provisions, its unsuccessful implementation, and finally its positive repercussions in the form of the expected passage of the drastically improved bankruptcy law and corresponding labor reform.

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