Abstract: This paper analyzes the special problems in affiliated enterprise-s bankruptcy and reorganization, points out that the process of "affiliated enterprise-s consolidated reorganization" should be used for the problem solving when necessary, and, through comparison with other means of regulation, points out the necessity of using this model in our country. This paper points out the necessity and feasibility of the establishment of affiliated enterprise-s bankruptcy and reorganization from the theoretic aspects of Philosophy of Law, Law and Economics, Civil Law and Economic Law, and using the experience of the substantive consolidation principle-s application in the United States and exploration cases in our legal practice for reference, analyzes and discusses the theoretical and practice basement of the affiliated enterprise-s consolidated reorganization system.