Challenges and Issues Surrounding Personal Bankruptcy in China

China’s southern metropolis of Shenzhen is the only mainland city where individuals can apply for bankruptcy, but it’s not easy since authorities reportedly frown on debt forgiveness. While debt is often taken to the grave, debtors’ families may continue to be hounded by creditors under a traditional belief that a “son must pay his father’s debt”. This Post story by Mandy Zuo and He Huifeng is narrated by Jasmine Tse.