GUANGZHOU -- The city known as China's Silicon Valley looks to create the country's first legal framework for personal bankruptcy, hoping to ease the financial burden on entrepreneurs with failed businesses and help them get back on their feet.
Politics
Tech hub Shenzhen to allow China's first personal bankruptcy
City aims to ease debt burden on entrepreneurs in innovation push
In China, founders and managers of startups and other small businesses generally must provide personal or family assets as collateral when taking out bank loans. (Photo by Yusuke Hinata)
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