What is it about?
In the process of transition to a market economy with Chinese characteristics and away from a planned economy, bankruptcy has been a problematic issue. This article considers recent developments in this regard, which appear to signal an approach which is based less on government interference and more on market criteria.
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Why is it important?
The development of a market-based, rather than state-directed, approach to bankruptcies is important both internally, from the perspective of the development of the Chinese economy, as well as a factor which has relevance to China's external relations, notably with the EU and the USA.
Perspectives
We found it very interesting to reflect on what is happening in this area, especially since Yingxiang was formerly Rebecca's PhD student. Having looked at approaches in market economies such as the USA and EU don't think that state involvement can be eliminated in all cases.
Professor Rebecca Parry
Nottingham Trent University
Read the Original
This page is a summary of: China’s enterprise bankruptcy law, building an infrastructure towards a market-based approach, Journal of Corporate Law Studies, August 2019, Taylor & Francis,
DOI: 10.1080/14735970.2019.1647018.
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