破产法学者李曙光：在改革的脉搏中｜我们的四分之一世纪

Core Viewpoint - The article highlights the significant contributions of Li Shuguang in the development of bankruptcy law in China, emphasizing the importance of a robust legal framework for market economy and the need for personal bankruptcy legislation [4][10][21]. Group 1: Background and Contributions - Li Shuguang has been actively involved in drafting and revising various laws, including bankruptcy law, since 1986, playing a crucial role in the 2006 bankruptcy law and its upcoming 2025 revision [4][6][10]. - He believes that bankruptcy law serves as a necessary mechanism for market competition, allowing for the elimination of failing companies and promoting fair competition among viable market players [7][10][19]. Group 2: Legislative Evolution - The initial bankruptcy law in 1986 was aimed at facilitating state-owned enterprise reform and was limited to state-owned enterprises [12][13]. - The 2006 bankruptcy law was a significant step towards establishing a market economy, but its implementation faced challenges, with a notable decline in bankruptcy cases filed in the years following its enactment [36][37]. Group 3: Current Developments and Future Directions - The 2025 revision of the bankruptcy law aims to address existing gaps and introduce provisions for small and micro enterprises, cross-border bankruptcy, and personal bankruptcy, reflecting the evolving economic landscape [44][45]. - Li Shuguang advocates for the establishment of a personal bankruptcy system, which he believes is essential for addressing the needs of individuals facing financial difficulties and promoting social stability [21][52][53].