The Enterprise Bankruptcy Law of the People's Republic of China (trial Implementation) was first passed in 1986. On 1 June 2007, the new Enterprise Bankruptcy Law of the PRC came into force. It contains 136 articles, almost 100 more than the 1986 law it replaced, and consequently it is thought to be more complete legally.
The Bankruptcy Code of PRC was adopted in 2006.8.27, and became effective since 2007.6.1
Chapter 8 Reorganization
Chapter 9 Exemption
Chapter 10 Liquidation
The code only applies to the mainland of China. In Hong Kong and Macau, there are different laws.