The bankruptcy trials research center of the second Civil Adjudication Tribunal under the Supreme People's Court (SPC) launched a research base at the Nanjing Intermediate People's Court   in East China's Jiangsu province on Aug 1. Liu Guixiang, member of the SPC judicial committee (vice-ministerial level), and Xia Daohu, president of the Jiangsu High People's Court, attended the unveiling ceremony.

Liu pointed out that the establishment of China's second research base on bankruptcy trials in Nanjing was a key measure to boost professional handling of bankruptcy trials, as well as the internal demand to serve supply-side structural reform.

He called for efforts to elevate the political stance of bankruptcy trials, integrate the work into serving overall socioeconomic development, and provide more targeted and effective services in the course of optimizing a law-based business environment and propelling healthy economic development. He urged more coordination among related departments in bankruptcy trials in a bid to improve related government public services and to form a joint force to defuse risks.

Work is also needed to further understand the laws of bankruptcy trials, adopt market-oriented and law-based principles, accurately distinguish those enterprises entering bankruptcy procedures, and appropriately apply the  treatments of liquidation, restructuring and reconciliation to improve efficiency, he added.

He also called for improving the working mechanism and giving full play to the demonstrative role of the research base, focusing on difficult issues such as the restructuring of large enterprises and listed companies, in a bid to achieve a deep integration between the theory and practice of bankruptcy trials.