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Abstract Discharge is the core element of the law of consumer bankruptcy， which has three major functions： extricating distressed debtors， regulating economic risks， and implementing public policy. Bankruptcy is a value-neutral event in which the debtors should not be subjected to moral condemnation. The exemption of remaining debts is in line with modern ethics. It not only reiterates the civil nature of the Civil Code of China， but also re-releases human capital while manifesting personal dignity. Through appropriate risk allocation， the system of bankruptcy debt relief can stabilize transaction expectations， and objectively form a meaningful supplement to the limited liability system of the corporate， and avoid unlimited recourse to the property of natural persons. Personal bankruptcy law does not necessarily lead to the risk of debt evasion. On the contrary， only sound centralized repayment and discharge inspection can curb moral risks， reward integrity and honesty， standardize the system of repayment， and ultimately resolve the problem of “enforcement predicament”. The spirit of contract that must be kept(Pacta sunt servanda) and the law that tolerates fault are respectively the bottom line and upper limit of the morals for a healthy market. The redemption of individuals by law will benefit society as a whole.
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Received: 22 January 2024
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2024, Vol. 63 
