China reviews second company bankruptcy draft

China plans to review the second draft of amendments to the corporate bankruptcy law, aiming to improve individual bankruptcy rules, protect debtors, facilitate restructuring, and address cross-border insolvencies. The amendments include the addition of a new section on consultations prior to restructuring, clarification of the external effects of bankruptcy, and specification of the courts' jurisdiction and mechanisms for international judicial cooperation. These changes are in response to public comments on the first draft, which was released in September 2025, and seek to modernize the bankruptcy system in line with international economic developments.

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