| Affiliate transactions are the inevitable economic phenomenon in the course of operation of market economy, which have inevitable nature and reasonable nature for existence, but that the subjects of market economy abuse affiliate transactions has produced a great deal of illegal affiliate transactions. At present the studies on illegal affiliate transactions in theoretical sphere are mainly side-emphatic on affiliate transactions among companies especially listed company, while few involve the affiliate transactions among non-corporation-system enterprises, government-sponsored institutions, natural person and other economic subjects. For this, starting with market economic subjects in a broad sense, this paper list harms of illegal affiliate transactions in such five aspects as the harms to appreciation and saving of state assets, to national administration of tax revenue collection, to interests of investor and creditor, to interests of horizontal competitors, hoping to catch enough attentions of theoretical sphere, legislative organizations and government supervision departments. This paper also briefly introduces the general principles and specific methods to rule and regulate affiliate transactions in western economy-development countries, and from the guarding angle in company law bravely puts forward the conceptions of establishment and perfection of such eleven aspects as system for obligations of honest and good faith of holding shareholders, system that information about affiliate transactions shall come out into the open, system of negation of personality from company law, system of independent boards, system of voting power agency, and so on. By the above studies of this paper, this author hopes that by ways of rational regulation, we can achieve the purpose of making best use of the advantages of affiliate transactions and bypassing theirdisadvantages, and then promote the health and stable development of socialist market economy.
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