Core Viewpoint - The article discusses the launch of a reform initiative in Hangzhou aimed at addressing "silent enterprises," which are companies that have ceased operations and are not actively engaging in the market. The initiative seeks to provide legal pathways for these companies to either recover or exit the market efficiently [1][2]. Group 1: Reform Implementation - The Fuyang Court has initiated a classification management and disposal mechanism for "silent enterprises," using a three-color list system (green, yellow, black) to identify and manage these companies [1]. - Green list enterprises, which are temporarily struggling but have recovery potential, are guided towards debt resolution through pre-restructuring, restructuring, or settlement processes [1]. - Yellow list enterprises, which have some recovery potential but lack the ability to repay debts, are encouraged to negotiate debt restructuring or repayment extensions with creditors [1]. - Black list enterprises, which have long occupied social resources and lost credit value, are subject to timely bankruptcy liquidation procedures to clear the market [1]. Group 2: Outcomes and Impact - Since the reform pilot began, the Fuyang Court has assisted in the credit restoration of 434 enterprises, facilitated the exit of 96 "silent enterprises," and helped 5 companies regain vitality, resolving debts totaling 9.33 billion [2]. - The reform has shifted from passive waiting to proactive selection, creating a "credit repair highway" for viable enterprises and a simplified exit channel for others, enhancing the market's "new metabolism" and optimizing the business environment [2]. - The initiative serves as a model for market governance in the province, providing a practical example for other cities to follow [2].