A bankruptcy trial research center, the first in China, was launched by the Supreme People's Court (SPC) in Beijing No 1 Intermediate People's Court on Dec 8, 2021.

Liu Guixiang, a full-time member of the Adjudication Committee of the SPC, said the center will help enhance the rule of law in bankruptcy procedures and better implement relevant legal systems. It is also an innovative move by the Beijing court to promote its practices in dealing with bankruptcy cases and create a more favorable business environment for the Chinese capital, he said.

Liu urged the center to develop itself into a platform for theoretical research, international exchanges and personnel training in the field of bankruptcy trials.

He also called for efforts to research on emerging and challenging issues, such as bankruptcy of natural persons and financial institutions, merger bankruptcy of affiliated enterprises, and cross-border bankruptcy, contributing experience and strength to China's bankruptcy legal system.