Bankruptcy tribunal saves 27 high-tech firms, 2,000 jobs since 2024

Since 2024, the Beijing Bankruptcy Tribunal has successfully rescued 27 small and medium-sized high-tech enterprises, safeguarding over 2,000 jobs and injecting 2.4 billion yuan ($337 million) in investments. These companies, operating in cutting-edge sectors such as artificial intelligence, big data, intelligent healthcare, digital culture, and computing power infrastructure, faced operational challenges due to rapid market changes and short technology lifecycles. The tribunal, under the Beijing No. 1 Intermediate People’s Court, employed judicial measures like restructuring and settlements to resolve over 10 billion yuan in debts. Vice-President Li Zhongyong highlighted the tribunal’s streamlined case-handling procedures and tailored debt settlement plans, which ensured the continuity of technological research during restructuring. The tribunal also relaxed legal standards for case reviews, enabling swift bankruptcy protection for distressed firms. Moving forward, the tribunal plans to refine rules for assisting high-tech enterprises and enhance legal talent education to professionalize case handling.