China has set up its second and third specialized bankruptcy courts in Beijing and Shanghai after establishing the first one in Shenzhen on Jan 14.

Like the Shenzhen court, the new courts have jurisdiction over four types of cases, including cross-border bankruptcy cases.

The Beijing Bankruptcy Court, which has six judges in total, takes over from the former Liquidation and Bankruptcy Trial Divisions of Beijing No.1 Intermediate People’s Court. 

 “The Beijing Bankruptcy Court will explore the market-oriented approach to the trial of bankruptcy cases and standardize the application of laws to the cases thus enabling a bigger role in restructuring to ease the burden of the enterprises that are failing in particular in the private sector, to upgrade the industry, and to encourage the entrepreneurial enthusiasm,” said Zaicun Wu said, the head of Beijing No.1 Intermediate People’s Court.

Shanghai Bankruptcy Court will make "zombie enterprises" as one of its main targets, and further enhance the orderly market exit and better support the distressed enterprises. The court will play a key role in preventing and controlling financial risks, maintaining social stability, and optimizing the rule of law in business environment, etc. 

中国第二家、第三家破产法庭相继在北京和上海成立

继深圳1月14日成立第一家破产法庭后，中国第二家、第三家破产法庭相继在北京和上海成立。

与深圳破产法庭一样，北京、上海破产法庭的案件管辖大致分为四类，其中均包括跨境破产案件的审理。

北京破产法庭是北京市一中院在其原有的清算与破产案件专业审判庭基础上组建的，目前有法官6人。

北京市一中院院长吴在存表示，“未来北京破产法庭将探索首都市场化破产审判机制，统一破产案件法律适用机制，并切实发挥重整制度对破产企业，特别是民营企业债务负担化解、产业层次提升和市场空间拓展方面的积极作用，保护企业家创新创业积极性。”

上海破产法庭将紧紧围绕依法处置“僵尸企业”，促进市场主体有序退出和困境企业救治的任务，依法开展破产清算、重整、和解案件的审理工作，加强债权人权益保护，优化市场资源配置，防控化解金融风险，在维护市场经济秩序、保持社会稳定、优化法治化营商环境上发挥积极作用。

To contact the editorial team, please email ALBEditor@thomsonreuters.com.