| Capital system is the core of one of the company system, which is the basis for the company to obtain legal personality. Capital system as a legal nature, institutional arrangements, its design, selection and innovation around the institutional arrangements are fair, security and efficiency goals will start to value. Posed by the shareholders capital invested in the company presence and operation of the whole process plays a very important role: For companies, it is both companies to obtain the necessary elements of an independent personality, but also the development company to operate and material basis; of shareholders, it is both financed and enjoy the corresponding rights and interests of shareholders of the embodiment of the shareholders of the company is the material basis of limited liability; of creditors, it is the company's total debt secured creditors to achieve an important guarantee of their claims. As we all know, China in 2005, "Company Law" has made a significant capital system innovation, the statutory capital system, authorized capital system and compromise the capital system is the academic capital of the western system of the three major theoretical statements. China enacted in 1993, "Company Law" in terms of capital to implement a strict system of legal capital system. In 2005 the NPC Standing Committee, "Company Law" to modify, the firm made a major capital system changes, but there are still many unresolved theoretical and practical issues.The first part of paper examines the concept of corporate capital system. Economic implications of company capital, legal meaning of the analysis, then analyzed the role of capital, including the establishment of the company capital is one element of the company, the company capital is material production and management company based on the company to finance capital assurance and the basis for the assumption of debt, the company capital is the responsibility of the shareholders of the company boundaries. Also, describes the legal value of capital, including security, equity and efficiency, no matter what mode of corporate capital system, should be in safety, fairness and efficiency to find the best balance between.The second part of the company's capital system in the two legal systems were investigated and the reality of the historical comparison. By examining the historical development of the three capital system, legislative models and values. Most civil law countries, which established the legal capital system is based on the "social standard" system based on the company's capital, reflecting the civil law countries Law pursuit of economic stability and economic security value. Common law established in most countries this is a authorized capital system based on "personal standard" based on the company's capital system, the pursuit of a free economy, efficiency and value. Compromise between capital system is the legal capital system and the authorized capital system between a capital system. This is a civil law countries in weighing the legal capital system and the advantages and disadvantages of the authorized capital system based on combining the two to form the new capital regime.The third part is the system of theoretical innovation company's capital. With the gradual deepening of China's market economy, stiff, form the function of the authorized capital is difficult to carry to the reality of the protection of creditors of the company. Many scholars believe that the company is to play a decisive role of credit assets, compared to the registered capital, the company has a dynamic asset to timely and accurate credit status of the company. In other words, corporate credit is based on "broad" capital credit, the registered capital of static and dynamic combination of assets of the company, which covers the company to destroy the whole process from the inception of the property changes in the company. Based on the company credit the human factor can not be ignored, from the history of enterprise development can be seen, people start business credit foundation is an important part, "saw the property, not people" in the company based on the role of credit, which inevitably based on partial Almost all.The fourth part of the paper on the basis of theoretical innovation in improving our capital system proposed countermeasures and suggestions. Two law interpreting the drawing mode of capital on the basis of the system, I believe that compromise our authorized capital system model is the best choice to maintain the company credit. Corporate Credit is a broad based capital credit, capital of the corresponding view of the credit system should be both registered capital and assets of the company's comprehensive concept of legal capital system and the authorized capital system have their own bias in this regard and lead to specific different rules of design, these two models are difficult to achieve the company's overall maintenance of credit and can not reflect on the process of capital operation. System of existing capital constraints on the free flow of capital, so investors in the face of high market access barriers arising speculation. In the contemporary credit crisis and Chinese companies in which the imperfections of the market economy environment, yet to establish a sound social credit system, there is personal use of company shareholders a huge incentive to defraud creditors, it may cause new social credit crisis . Capital is also at risk, in the era of frequent financial crises, we found that the state capital as a part of the financial crisis. In the reform of the current capitalist system at the same time, and of "Company Law" in the specific system design concept and the major changes were analyzed, including (1) improve the minimum registered capital amount, to encourage business investment; (2) diversification of investment types way to relax restrictions on investment to shareholders; (3) further removal of restrictions on foreign investment company; (4) disregard of corporate personality to further improve the system: (5) improve the system of share repurchases given the company shareholders to exit autonomy. Exception, and accordingly made a number of recommendations supporting institution building, such as improve the capital market and commercial credit system science.
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