This article compares Russian and Chinese legislation on the bankruptcy of energy companies employing a comparative analysis method, identifies similarities and differences in legal regulation. The theoretical relevance of this work is to identify the main legislative approaches to the legal regulation of bankruptcy of energy companies in Russia and China, thereby providing a foundation for further research on this issue. The practical relevance of this work is the possible use of the best practices of legal regulation of bankruptcy relations of energy companies in Russia and China. Despite the significant influence of state regulation on the economy, both in Russia and China, bankruptcy legislation generally corresponds in its content to market standards of bankruptcy regulation. In terms of bankruptcy regulation of energy companies, Russian bankruptcy legislation, unlike Chinese legislation, has more specific features. Chinese bankruptcy legislation is supplemented by the decisions of the State Council of the People’s Republic of China and the practice of higher courts, as well as by widely used conciliation procedures.