According to the relevant provisions of the Civil Procedure Law and the Enterprise Bankruptcy Law, the order in which assets of bankrupt enterprises are used to pay off debts is as follows:

1. Creditors and debtors owe each other debts to offset the debtor's property;

2. Secured creditor's rights;

3. After paying off the bankruptcy expenses and debts, the bankrupt property shall be paid off in the following order:

(1) The wages, medical care, disability allowance and pension expenses owed by the bankrupt to the employees, the basic old-age insurance and basic medical insurance expenses owed to the employees' personal accounts, and the compensation that should be paid to the employees according to laws and administrative regulations;

(2) Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph;

(3) Ordinary bankruptcy claims.

4. If there are surplus assets, the shareholders shall distribute them according to the proportion of capital contribution.