Why is Shenzhen adjusting China’s first pilot personal bankruptcy scheme?
The southern Chinese tech hub of Shenzhen plans to introduce a stricter supervisory mechanism for debtors who apply for personal bankruptcy, aiming to address public concerns over “debt evasion”.
Starting in October, a debtor’s bankruptcy information will be publicly disclosed for up to eight years once a court rules that their outstanding debts be discharged, the city’s bankruptcy administration announced last week.
Shenzhen, in Guangdong province, adjoining Hong Kong, became the first city in...
