If an enterprise as a legal person is unable to pay off its debts due, and its assets are insufficient to pay off all debts or obviously lack solvency, the debtor may apply to the people's court for reorganization, reconciliation or bankruptcy liquidation.
Companies in China, no matter what kind of company, state-owned or private, limited liability company or joint stock limited company, need a lot of money every day to maintain the operation of the company. If the company's funds can no longer maintain the company's operations and at the same time owe a lot of debts, then the company may declare bankruptcy.
Beijing Jiantou Kexin Technology Development Co., Ltd. (formerly known as Beijing Jiantou Kexin Technology Development Co., Ltd.), established in 1993, located in Beijing, is an enterprise mainly engaged in technology promotion and application services.