Recently, the Shenzhen intermediate people's Court of Guangdong Province announced the "Implementation Opinions on strengthening individual bankruptcy application and examination". The opinion is clear that when applying for personal bankruptcy to the people's court, the applicant shall fully and truthfully disclose relevant information, provide false and altered materials, report false information, make false statements or misleading statements in the interview guidance, which leads to the judgment of the people's court, and bear legal responsibility according to law. In March 2021, the first personal bankruptcy law in China, the regulations of Shenzhen Special Economic Zone on personal bankruptcy, was implemented in Shenzhen to help "honest and unfortunate" debtors obtain "economic rebirth". However, there is a certain conflict between the bankruptcy exemption and the simple concept of "it's natural to owe and repay money" in the hearts of ordinary people. If the examination of individual bankruptcy applications is not strictly standardized, the individual bankruptcy system may become a "safe haven" for "Laolai" to evade and scrap debts, which will lead to contradictions and disputes. The introduction of the opinions is expected to tighten the "fence" of the personal bankruptcy system. It is clear that if the debtor applies for personal bankruptcy liquidation, he shall lose the ability to pay off his debts and it is difficult to recover his ability to pay off his debts. If the relevant circumstances are not met, the people's court may refuse to file an individual bankruptcy liquidation application; If the people's court examines an individual bankruptcy application and finds that the case is complex and needs further investigation, it may conduct a hearing investigation. Cao Qixuan, President of Shenzhen bankruptcy court, said that good faith is the key principle of the personal bankruptcy system. When applying for bankruptcy, the debtor must fully and truthfully report to the court the reasons for the formation of personal debt, the actual income level of the family and the current property status, and accept the investigation and inquiry of the court and the inspection and verification of creditors, so as to prove his "honesty" and "misfortune" with objective evidence. "The relief door for personal bankruptcy is only open to 'honest and unfortunate' debtors." Li Shuguang, director of the Research Center for bankruptcy law and enterprise reorganization of China University of political science and law, believes that the introduction of the above opinions in Shenzhen is very timely, which provides detailed and comprehensive operational guidance for debtors to submit personal bankruptcy applications to the people's court, helps individuals to check their applications and the court to check their review, and provides useful thinking for promoting personal bankruptcy legislation at the national level. (outlook new era)