NPC Standing Committee Deliberates on Enterprise Bankruptcy Law and Other Drafts

On August 25, 2026, the Twenty-Fourth Session of the Standing Committee of the Fourteenth National People’s Congress was held to deliberate on a number of draft laws, including the Enterprise Bankruptcy Law (Revised Draft).

The second-review draft of the revised Enterprise Bankruptcy Law further refines the bankruptcy regime for individual debtors bearing joint and several liability, provides that courts may decide to temporarily suspend enforcement against a debtor’s property during the review of a bankruptcy application, and improves the scope of administrators, the reorganization system, and the order of priority for the distribution of bankruptcy estate assets. The second-review draft of the revised Banking Supervision Law adds provisions on categorized and tiered supervision, financial licenses, and risk disposal, and improves consumer rights protection and the management of regulatory personnel’s professional practice. The draft amendment to the Lawyers Law improves provisions on foreign-related legal services and coordination with the Legal Aid Law. The meeting also deliberated on the draft revision to the Road Traffic Safety Law, the draft Anti-Cross-Border Corruption Law, and other bills.