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In Depth: Localities Push Ahead With Personal Bankruptcy Pilots as National Efforts Stall

By Cui Xiankang and Bruce Shen
2022年05月19日 12:52
China has yet to create a nationwide legal framework for helping individuals escape insolvency, but local governments are making headway on their own pilot initiatives, even as they face obstacles
Photo: VCG

Qi Sheng, 49, ran an after-school tutoring firm with his wife that served around 200 students in Shenzhen. In a good year, their business could make 200,000 yuan ($29,450) a month. Life was comfortable — until Covid-19 put in-person classes in limbo.

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