From the philosophy dialectic point of view,bankruptcy system relates to three contradictions amongst obligee and obligor,obligee apiece,bankruptcy and social benefit.

Based on analyzing the defects of our present bankruptcy system, the following paper produces several suggestions in order to perfect bankruptcy legislation and promote the performance of bankruptcy system.

The emergence and development of bankruptcy accounting depend on the establishment and perfection of bankruptcy system.

The paper points out four defects in creditors benefit safeguard mechanism in the current enterprise bankrupt system in China and then proposes relevant measures to improve the situation.

Bankrupt responsibility exemption is the legislative orientation in bankrupt system.

This article focuses on the choice of the ownership system pattern and its foundational theory,then discusses the strategies and approaches to achieve the diversification of the ownership of the power grid enterprises.

But the process of bankruptcy for commercial banks is dominated by financial supervising administration, representing the ex ante bankruptcy mode driven by administrative management.

In America, the bankruptcy of general enterprises is reflected by merger and acquisition, which confirms to the ex post bankruptcy mode driven by market.