On Bankruptcy Ability

China's 1986 Bankruptcy Law simply stipulates that state-owned enterprise's juridical person can declare bankruptcy, and this is very different from modern international bankruptcy system. The regulation of bankruptcy ability directly relates to the applicable areas of bankruptcy law.After a review of the establishment of bankruptcy law in various countries and regions, it is suggested that general bankruptcy should be implemented in the establishment of new bankruptcy law, and the principal areas of bankruptcy ability should be expanded so as to bring its social function into full play.