After mainlanders set up companies in Hong Kong and declared bankruptcy, some of them were serious.

First of all, you mentioned that filing for bankruptcy means that the company enters bankruptcy proceedings.

The company has the qualification of an independent legal person and bears limited external liabilities, that is, the company only bears external liabilities with limited assets, and the contracts and debts signed in the name of the company cannot be paid off in the end. After bankruptcy, the court liquidated the company's property and distributed it to all creditors equally. No individual civil liability shall be investigated.

Secondly, in the course of business, your personal creditor-debtor relationship will not be eliminated.

In other words, if you borrow money in your own name for the operation of the company, even if the company goes bankrupt, you should continue to repay it with your personal property.

Finally, Hong Kong is a part of China. Although the legal provisions are slightly different, on the whole, they cannot violate the provisions of our Constitution. If your company is registered in Hong Kong, the laws of Hong Kong shall apply.