Bankruptcy in China
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The Enterprise Bankruptcy Law of the PRC was adopted on August 27, 2006, and became effective since June 1, 2007.
Personal bankruptcy laws only exist in Hong Kong and Shenzhen.
The Enterprise Bankruptcy Law of the PRC 2007 applies only to the mainland of China. Due to the "one country, two systems" policy of the PRC, different laws and regulations regarding to bankruptcy apply in Hong Kong and Macau.
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