[PDF] Chinas New Enterprise Bankruptcy Law A Great Leap Forward But Just How Far eBook

Author : Emily Lee
Publisher :
Page : 38 pages
File Size : 18,41 MB
Release : 2015
Category :
ISBN :

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The closure of many small and medium enterprises (“SMEs”) following the global financial crisis of 2008 spurred the Chinese government to follow its international counterparts in issuing an economic stimulus package. While it was effective in preventing many financially distressed SMEs from failure by boosting demand for its businesses, in the long run, such SMEs should be rescued through a statutory regime which affords them temporary protection from creditors and provides them an opportunity to restructure their businesses. In so doing, the premature liquidation of SMEs would be prevented and SMEs with viable businesses but in temporary financial difficulties would be given a chance to succeed again. Although China's new Enterprise Bankruptcy Law (“EBL”) has shortcomings, it improves upon its predecessor legislation and, since it is still at an infantile stage of development, is bound for further reform. Despite the EBL's success in bringing Chinese corporate bankruptcy laws in line with international standards, full compliance with the UNCITRAL Model Law on Cross-Border Insolvency and UNCITRAL Legislative Guide on Insolvency Law remains to be seen. In September 2008, the South China Morning Post newspaper reported that the number of [applications for] corporate reorganization and bankruptcy cases had dropped, “leading to widespread speculation there are problems in the law's practical application”. This article examines the implementation of the EBL, critiques key aspects of the EBL, and argues for a comprehensive assessment of the EBL and for bringing the EBL in full compliance with the international standards on cross-border insolvency.

Author : Yongqian Xu
Publisher : Routledge
Page : 372 pages
File Size : 20,91 MB
Release : 2016-05-23
Category : Law
ISBN : 1317167147

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China has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law drawing inspiration from mature insolvency systems. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s reformed legal bankruptcy system by introducing the framework and analyzing typical cases which have been or are being heard since the new bankruptcy law was operational. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.

Author :
Publisher : Thomson West; Aspatore
Page : 0 pages
File Size : 21,86 MB
Release : 2010
Category : Bankruptcy
ISBN : 9780314268549

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Recent Developments in Bankruptcy Law in China provides an authoritative, insiders perspective on key strategies for representing and advising bankruptcy clients in Chinas current economic, political, and legal environment. Featuring partners from some of Chinas leading law firms, these experts guide the reader through recent changes in Chinas legal landscape, as they provide a brief history of Chinese bankruptcy law and discuss how filings have changed since the new Enterprise Bankruptcy Law. These top lawyers offer tips on understanding the similarities and differences in Chinese and U.S. bankruptcy law, including how the courts administer the laws, the types of bankruptcies filed, and how best to file involuntary bankruptcies. From understanding new reorganization practices to handling common legal issues for clients, these authors give advice on how to integrate new techniques into current bankruptcy strategies. Additionally, these leaders discuss the ambiguities of the Enterprise Bankruptcy Law and the lack of transparency in Chinas bankruptcy regime. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts around the keys to navigating bankruptcy law in Chinas current legal climate.

Author : Elina Moustaira
Publisher : Springer
Page : 160 pages
File Size : 41,55 MB
Release : 2018-12-31
Category : Law
ISBN : 3030044505

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This book presents problems that often arise in the context of international/cross-border insolvencies; analyzes and compares national legislations and jurisprudence; elucidates the solutions offered by international/regional instruments; and explores the differences in the implementation of these instruments by various countries and the consequences of these differences. It examines in detail a number of famous and less famous cases tried by national courts, in which it became readily apparent that insolvency law remains one of the bastions of national law. In addition, the book discusses the notion of transplanting foreign [international] insolvency rules and especially the influence that US insolvency law has exerted on other countries’ insolvency [and international insolvency] law. Far from adopting an unrealistically optimistic stance, it soberly examines the complications of cross-border insolvencies, while also presenting potential solutions.

Author : 趙惠妙
Publisher : Cambridge University Press
Page : 351 pages
File Size : 45,50 MB
Release : 2020-01-02
Category : Business & Economics
ISBN : 1108496652

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Discusses the nature, extent and appropriateness of government intervention in the bankruptcy of listed companies in China.

Author : Wojciech Maliszewski
Publisher : International Monetary Fund
Page : 43 pages
File Size : 43,45 MB
Release : 2016-10-14
Category : Business & Economics
ISBN : 1475545282

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Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.

Author : Jacques deLisle
Publisher : Brookings Institution Press
Page : 290 pages
File Size : 17,35 MB
Release : 2019-09-24
Category : Business & Economics
ISBN : 0815737262

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" In 1978, China launched economic reforms that have resulted in one of history’s most dramatic national transformations. The reforms removed bureaucratic obstacles to economic growth and tapped China’s immense reserves of labor and entrepreneurial talent to unleash unparalleled economic growth in the country. In the four decades since, China has become the world’s second-largest economy after the United States, and a leading force in international trade and investment. As the contributors to this volume show, China also faces daunting challenges in sustaining growth, continuing its economic ransformation, addressing the adverse consequences of economic success, and dealing with mounting suspicion from the United States and other trade and investment partners. China also confronts risks stemming from the project to expand its influence across the globe through infrastructure investments and other projects under the Belt and Road Initiative. At the same time, China’s current leader, Xi Jinping, appears determined to make his own lasting mark on the country and on China’s use of its economic clout to shape the world around it. "

Author : Philip Scranton
Publisher : Springer
Page : 395 pages
File Size : 18,90 MB
Release : 2018-12-13
Category : Business & Economics
ISBN : 3030003981

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Given the near-silence in technological and business history about post-World War II socialist enterprises, this book gives voice to a generation of Communist China’s managers, entrepreneurs, cadres, and workers from the Liberation to the early 1970s. Using recently-opened online archival resources, it details and assesses the course of technical and organizational experimentation at state-owned, cooperative, and private enterprises as the PRC strove to construct a socialist economy through trial-and-error initiatives. Core questions treated are: How did Chinese enterprises operate, evolve, experiment, improvise and adjust during the PRC’s first generation? What technological initiatives were crucial to these processes, necessarily developed with limited expertise and thin financial resources? How could constructing “socialism with Chinese characteristics” have helped lay foundations for the post-1980 “Chinese miracle,” as the PRC confidently entered the 21st century while Soviet and Central European socialisms crumbled? And what might current-day Western managers and entrepreneurs learn from Chinese practice and performance a half-century ago? Readers can anticipate a granular, bottom-up analysis of how businesses worked day-to-day in a planned economy, how enterprise practices and technological strategies shifted during the first postwar generation, how managers and technicians emerged after the capitalist exodus, how organizations experimented and adapted, and how the controversies and convulsions of the PRC’s early decades fashioned durable technical and organizational capabilities.

Author : Yi Wen
Publisher : World Scientific
Page : 336 pages
File Size : 16,17 MB
Release : 2016-05-13
Category : Business & Economics
ISBN : 9814733741

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The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.

Author : Natalie Mrockova
Publisher : Bloomsbury Publishing
Page : 384 pages
File Size : 10,11 MB
Release : 2021-01-28
Category : Law
ISBN : 1509932453

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This fascinating study uses qualitative and quantitative data and insights from interviews with judges, lawyers, government officials, entrepreneurs, bankers, consultants, and academics in China and abroad, to provide a new perspective on the problems that have hindered the implementation of the Enterprise Bankruptcy Law in China, and recent attempts at reform. The analysis provides unique insights into China's business world and its interaction with the judicial and political system in China. In addition, the book also provides important information about how the Enterprise Bankruptcy Law affects foreign companies, agencies and governments that are active in China. The author draws on empirical data, decided cases and her experience of how the law and surrounding practices deal with foreign stakeholders whose interests are affected by corporate bankruptcy in China. The book will improve understanding of how China's corporate bankruptcy law has been used in practice, what has limited its practical effectiveness, whether it is desirable for the law to be used more readily in China, and the possible options for its reform.