The Enterprise Bankruptcy Law of the People's Republic of China was adopted at the 23rd Session of the Standing Committee of the 10th National People's Congress on 27 August 2006.

The contents of this law are as follows:

Chapter I. General Provisions
Chapter II. Application and Acceptance
Section 1. Application
Section 2. Acceptance
Chapter III. Administrator
Chapter IV. Debtor's Property
Chapter V. Expenses for Bankruptcy Proceedings and Debts of Common Benefits
Chapter VI. Declaration of Credits
Chapter VII. Creditors' Meeting
Section 1. General Provisions
Section 2. Creditors' Committee
Chapter VIII. Reorganization
Section 1. Application for and Period of Reorganization
Section 2. Preparation and Approval of Reorganization Plan
Section 3. Execution of Reorganization Plan
Chapter IV. Composition
Chapter X. Bankruptcy Liquidation
Section 1. Declaration of Bankruptcy
Section 2. Appraisal and Distribution
Section 3. Conclusion of Bankruptcy Proceedings
Chapter XI. Legal Liabilities
Chapter XII. Supplementary Provisions

This law will be implemented as of 1 June 2007.

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