Legislative Construction of the Personal Bankruptcy Exemption System

Abstract

With the further development of the economy and society, the call to build a personal bankruptcy exemption system is increasingly high. The personal bankruptcy exemption system is an important system for the economic development of modern countries and is of great significance for promoting national economic development. The concept of exemption legislation originates from the theory of debtor cooperation, the modern personal bankruptcy exemption theory is formed after the integration of debt forgiveness theory, humanitarian theory and social utility theory, China's personal bankruptcy exemption theory should be based on modern personal bankruptcy theory, on the basis of modern personal bankruptcy theory combined with China's special cultural customs and economic characteristics to make appropriate adjustments, in order to promote the legislation of China's personal bankruptcy exemption system.