(Bingyin June 28), August 3, 1986, after the founding of the first time the company declared bankrupt. explosion-proof instruments factory the


Shenyang bankruptcy, the director caught the contemplation
50 early, after the completion of the socialist transformation of the private enterprises have ceased to exist, the state enterprises unified revenue and expenditure, bankruptcy The system also cease to exist. August 3, 1986, in a press conference held by the People's Government of Shenyang City Industry and Commerce Bureau responsible comrades announced: 10 years of continuous losses, the amount of the liabilities of more than two-thirds of all of the assets of explosion-proof equipment factory in Shenyang in Bankruptcy warning notice "within a period of one year, declared bankruptcy, rectify and rescue invalid. This is after the founding of the first formal declaration of bankruptcy of enterprises, The socialist enterprise there is no closure of the traditional knowledge and practices of this to an end.
on this day a year ago, Shenyang Municipal People's Government in accordance with the collective ownership of industrial enterprises in Shenyang City bankruptcy process Trial Regulations tune City clothing three plants, metal foundry and explosion-proof equipment factory issued a "bankruptcy alert notice, this major initiative, shocked at home and abroad. U.S. "Time" magazine on this author comments: "a not uncommon phenomenon in the West, thousands of workers are warned that their company is in trouble, and their work will also retain his job. This time, this phenomenon is not in Detroit or Lyon or Manchester, but in Shenyang of northeast China. Comments exclaimed: "China's 'iron rice bowl' really to be shattered! "A year later, the explosion-proof equipment factory in Shenyang it all becomes a fact of life.
12 May 2, 2009, the Standing Committee of the National People's Congress passed the Enterprise Bankruptcy Law (Draft) ".