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Edited Legal Collections Data |
Book Title: Research Handbook on Cross-Border Bank Resolution
Editor(s): Haentjens, Matthias; Wessels, Bob
Publisher: Edward Elgar Publishing
Section: Chapter 15
Section Title: An analysis of the development of cross-border crisis management in China’s bankruptcy laws and regulations
Author(s): Chen, Armstrong
Number of pages: 17
Abstract/Description:
China is now, as the largest emerging market of in the world after 30 years of opening-up and reform process, becoming involved in the economic community quickly and deeply and actively involved in the international economic community. With the increase of FDI and a gradual increase of out-bound investment on the economic and banking sectors, as well as the increase of international investment in the banking sector, cross-border crisis resolution has become a very important issue for the court and regulatory authorities. The Enterprise Bankruptcy Law of 2007 stipulated basic principles of cross-border insolvency issues in China to develop provisions of this act. In addition, the Supreme Court issued a number of judicial interpretations of the Enterprise Bankruptcy Law, which lay down detailed explanations on a number of issues and facilitated judicial and administration practices. Besides, synchronization is achieved by amending the Commercial Banks Law, the Enterprise Bankruptcy Law and the Insurance Law, as well as the financial regulations at the local level.
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URL: http://www.austlii.edu.au/au/journals/ELECD/2019/1637.html