Legal basis: Civil Code of People's Republic of China (PRC).
Article 1062 The following property acquired by husband and wife during the marriage relationship is the joint property of husband and wife, which is jointly owned by husband and wife:
(1) Wages, bonuses and remuneration for labor services;
(2) Income from production, operation and investment;
(3) Income from intellectual property rights;
(4) Inherited or donated property, except as provided for in Item 3 of Article 1063 of this Law;
(5) Other property that should be jointly owned.
Husband and wife have equal rights to dispose of common property.
Article 1063 The following property is the personal property of one spouse:
(1) one party's premarital property;
(2) Compensation or compensation obtained by one party for personal injury;
(3) Property that is determined to belong to only one party in the will or gift contract;
(4) Daily necessities used exclusively by one party;
(five) other property that should be owned by one party.
Article 1064 Debts jointly signed by husband and wife or ratified by one of them afterwards, as well as debts incurred by one of the husband and wife in his own name for the daily needs of the family during the marriage relationship, are joint debts of husband and wife. The debts incurred by one of the husband and wife during the marriage relationship in their own name beyond the daily needs of the family are not joint debts of the husband and wife; However, the creditor can prove that the debt is used for the husband and wife's common life, joint production and operation, or based on the common meaning of both husband and wife.
Article 1089 At the time of divorce, the joint debts of husband and wife shall be paid off jointly. If the joint property is insufficient to pay off or the property belongs to each other, it shall be paid off by mutual agreement; If the agreement fails, the people's court shall make a judgment.