Management personnel mentioned herein refer to special institutions that take over the property of bankrupt enterprises and manage bankruptcy-related affairs in bankruptcy procedures according to law.

I. Optimizing deregistration and status change for bankrupt enterprises

1. After a bankruptcy application has been accepted, the management personnel shall send the bankrupt information of the enterprise to the National Enterprise Credit Information Publicity System through the National Enterprise Bankruptcy Information Disclosure Platform to timely make the bankrupt status of the enterprise public.

2. Market regulation departments and other relevant departments shall not handle modifications to enterprise registration items before the liquidation process is completed or the reorganization or mediation process is terminated.

3. Based on the Application Form for the Deregistration of Enterprises and Ruling on Terminating the Bankruptcy Proceedings issued by the People's Court, management personnel can apply for the deregistration of bankrupt enterprises. The market regulation departments shall not set up additional cancellation conditions for simplified deregistration.

4. For a bankrupt enterprise applying for simplified deregistration while the business license is lost, the bankrupt enterprise can produce a statement announcing the invalidity of the lost business license at the National Enterprise Credit Information Publicity System or publish the loss of the business license via newspapers. The renewal of the business license will then not be required in the cancellation processes.

5. Directors, supervisors, or senior executives who fail to perform their relevant duties resulting in enterprise bankruptcy will be ordered by the People's Court to bear corresponding liabilities. Management personnel, based on effective legal documents, can apply for qualification restriction registration of the above-mentioned personnel at market regulation departments, financial management departments, or other relevant departments via the National Enterprise Bankruptcy Information Disclosure Platform.

II. Strengthening financial institutions' participation and support in bankruptcy procedures

1. Financial institutions shall support management personnel to perform relevant duties such as taking over the property of bankrupt enterprises according to law. The working mechanism of financial services related to bankruptcy procedures shall be established and completed to enhance the reorganization or mediation processes of bankrupt enterprises. 

2. If the liquidation team performs the duty of management personnel in cases where commercial banks, securities companies, insurance companies, or other financial institutions or local enterprises with significant influence are undergoing bankruptcy procedures, the People's Court can designate financial asset management companies as members in the liquidation team to assist with the procedures.

3. Management personnel can apply for opening an account for management personnel from the bank with relevant documents and materials such as the Ruling on Accepting the Bankruptcy Application issued by the People's Court, Decision on Designation of Management Personnel, and identity certificates of the person in charge of the designated management personnel.

4. Banks shall formulate unified regulations and procedures in opening accounts for management personnel and shorten the processing period. More access rights shall be given to the management personnel's accounts to ensure convenient operation.

5. Banks are encouraged to reduce and waive expenses related to the opening and usage of the management personnel account, optimize processing procedures of account renewal, and provide reminders of account expiration for management personnel in good time.

6. Management personnel shall close the account in a timely manner after the termination of duties.

7. Holding relevant documents and materials, such as the Ruling on Accepting the Bankruptcy Application issued by the People's Court and Decision on Designation of Management Personnel, management personnel can take over the account of bankrupt enterprises, handle fund transfers of bankrupt enterprises according to the law, activate or close abnormal accounts, and handle freezing orders and other affairs such as viewing account information, transaction details, and credit information. Financial institutions shall cooperate with the management personnel.

8. Collective consultation mechanisms such as creditor committees of financial institutions and meetings of bondholders shall be given full play in negotiations and consultations of the enterprise's bankruptcy procedures.

9. Financial institutions are encouraged to reasonably reduce restrictions on exercising the right to vote and ensure efficient performance of voting power in bankruptcy procedures, especially in reorganization procedures.

10. To handle the bankruptcy of financial institutions, management personnel shall strengthen cooperation with financial regulation authorities to ensure financial stability.

11. Banking financial institutions shall provide credit aid, in accordance with market-oriented and law-based principles, for enterprises undergoing reorganization procedures that have the value and potential for reorganization and are in line with the national industrial policies.

12. Eligible financial institutions are encouraged to set up funds for the disposal of non-performing assets and participate in the reorganization procedures of bankrupt enterprises in accordance with the law.

13. Different types of funds such as private equity investment funds, industry investment funds, and funds for the disposal of non-performing assets are encouraged to provide financing support during the bankruptcy procedures for eligible enterprises that are undergoing reorganization and are in line with the national industrial policies.

14. After the reorganization plan is complete or approved by the People's Court, reorganized enterprises or management personnel can apply for adding the reorganization results to the Credit Regulation Center of the People's Bank of China with relevant rulings issued by the People's Court to indicate the reorganization.

15. Financial institutions are encouraged to review and support reasonable financing needs of reorganized enterprises as they would for normal enterprises according to laws and regulations, and further facilitate the credit repair of enterprises.

16. Management personnel shall play an active role in preventing debt dodging and other illegal acts.

17. Management personnel shall enhance the tracking and management of bankrupt enterprises' property to effectively guarantee remuneration for the labor of employees and their lawful rights and interests in social insurance. Management personnel shall inform the creditor committees of financial institutions and meetings of bondholders of relevant information in time. If there are personnel in bankrupt enterprises who are suspected of involvement in criminal cases, management personnel shall report relevant criminal information to judicial organs or supervisory authorities.

18. Financial institutions shall actively support the management personnel to track the property of bankrupt enterprises in accordance with the law and encourage reminders to the management personnel if any malicious transfers of the property of the bankrupt enterprises are found.

III. Facilitating the processing of tax-related affairs of bankrupt enterprises

1. The tax administration of enterprises undergoing bankruptcy procedures shall be under the regulation of tax authorities. If the property and operation affairs of the enterprises are handled by the management personnel, the management personnel shall perform relevant tax liability on behalf of the bankrupt enterprises.

2. If the bankrupt enterprises require invoices while undergoing the bankruptcy procedures due to the performance of contracts, disposal of property, continued operation, or other reasons, the management personnel, as the taxpayer, can apply for and receive invoices from tax departments.

3. In addition to urging taxpayers to pay tax in full amount according to the new tax liability, tax departments shall fulfill enterprises' reasonable needs for the receipt of invoices in accordance with relevant regulations.

4. After the tax, customs, and other departments have received the unpaid tax principal, tax delay charges, and tax penalty from the bankrupt enterprises in the bankruptcy liquidation procedure according to the law, they shall, in accordance with the repayment proportion determined in the property distribution plan approved by the People's Court, collect the previously unpaid tax principal, tax delay charges, and tax penalty into the Treasury, and write off the unpaid tax principal, tax delay charges and tax penalty according to the law.

5. For enterprises declared bankrupt by the People's Court, management personnel can apply for tax deregistration with the support of a Ruling on Terminating the Bankruptcy Liquidation issued by the People's Court. Tax departments shall issue the tax clearance document in a timely manner and write off tax payments unable to be pursued according to relevant regulations.

6. After the tax authority has received the repayment during the reorganization or mediation process, management personnel or bankrupt enterprises can apply for restoration of the tax credit from the tax authority. According to the reorganization plan approved by the People's Court or rulings on the recognition of the mediation agreement issued by the People's Court, the tax authority shall evaluate the tax credit rating of enterprises.

7. For bankrupt enterprises with information on major tax violations and dishonesty cases reported, the information reported shall be suspended and removed from the relevant bulletin boards and the relevant change shall be reported to departments for joint punishment and management.

8. In accordance with relevant legal responsibilities, related departments shall lift punishments and ensure the regular operation and future development of enterprises according to laws and regulations.

9. For asset losses of bankrupt enterprises confirmed or generated by the results of asset disposal, reorganization plans approved or recognized by the rulings of the People's Court, or mediation agreements, the losses shall be deducted in accordance with provisions of tax law.

10. Tax authorities shall process and review materials submitted by bankrupt enterprises related to the above-mentioned affairs in an efficient manner.

IV. Optimizing the asset disposal supporting mechanisms

1. The transfer of land or property with independent parcel divisions of bankrupt enterprises shall be allowed. Municipal or county-level natural resources departments and other relevant departments shall approve eligible applications in time.

2. For assets that shall be treated as real estate and have additional conditions in accordance with the relevant planning adjustments or other reasons, management personnel shall be timely informed of specific standards and the basis of the treatment.

3. Bankrupt enterprises that acquire land by allocation shall apply for approval before land transformation, according to the laws from the People's Government that has the right of approval.

4. Relevant departments shall actively promote the completion of relevant procedures for real estate that has not finished the acceptance formalities or real estate with a defective title. The ownership of the real estate shall be clearly stated. Relevant departments shall handle the ownership registration procedures for the real estate of bankrupt enterprises and support the management personnel to achieve efficient property disposal of bankrupt enterprises.

5. Diversified and professional trade and circulation platforms of property disposal shall be given full play to ensure efficient property disposal of management personnel.

6. After the People's Court has accepted and handled a case of enterprise bankruptcy, the management personnel, with the support of the Ruling on Accepting the Bankruptcy Application issued by the People's Court and Decision on Designation of Management Personnel, can apply for the termination of preservation measures such as the seizure, sequestration or freezing of the bankrupt enterprise's property from relevant departments and financial institutions. The relevant departments and financial institutions shall support the termination according to the Enterprise Bankruptcy Law of the People's Republic of China.

7. After the termination of the preservation measures, management personnel shall inform the relevant departments that have performed the duty of preservation of the changes in good time.

8. Management personnel shall complete the clearance procedures of customs before taking over or handling goods under customs supervision. Customs shall provide convenient services and guidance for management personnel in processing the clearance.