Research On Legal System Of Protecting Private Placeholders In China

Since2012, corporate bonds privately legal business license, from the angle of quantitative analysis in the debt capital markets in China are very small proportion, but from the qualitative point of view, private placement bonds has opened up new areas of the capital market, has play a decisive role position. The development of bond business of Chinese private company has gone through the course of private debt service in foreign developed countries are the same, the extreme expansion rapidly into the downturn, the private placement bonds risk level concerns is one of main factors that change radically situation. China’s capital market development achievements is the world’s attention, but the capital market development time compared with the developed capitalist countries still belongs to the starting stage, so it is still in the exploratory stage in the construction of supporting system including the construction of legal system, to the interests of small shareholders protection and many other commercial interests protection level still lack experience and case maturity therefore how to stimulate, corporate bonds privately business of contradictions, improve the legal protection of private bondholders that vulnerable groups, not only for private bondholders of great significance, are of great significance for private bonds and the bond market.Our existing theory and judicial practice more from the public power of private corporate bond business, can not effectively for private bond investors escort. This paper focuses on China’s existing legislation and judicial practice, the legal system of securities firms shall beAnalysis and review, and improve the system of private corporate bonds of law of our country is not only to the release, not to the intervention of public power and private right of self remedy indifference. This paper is divided into four parts:The first part:"China’s bond legislation". Are closely associated with the value judgment and choice construction which is a part of legal system and perfect the legislation of the. By combing the relationship since the founding of China capital market and the national macroeconomic regulation and control, through the comparison of the capital market in the different periods of the subject and object, the spirit of the legislation through the analysis of the bond market related existing laws and regulations embodied, tries to explain China’s bond market legislation is still with a strong color of administrative intervention, enlarge the public property law have, have no more from the perspective of design and perfect relevant regulations of private rights of bond. From the perspective of substantive law and procedural law analysis of the legal obstacles to private bondholders to protect their own legitimate rights and interests in the practice in the face, that private bondholders should give the private strength relief rights.The second part:"commercial essence of corporate bonds". The investment properties to this part of the company bonds have, private bonds and commercial regulation associated, thinks private corporate bonds only through civil law does not get enough protection, civil law can not be timely and efficient to solve the property transfer between the high-level, complex, especially the adjustment of private debt service and stock investment products by law.The third part:"the private bondholders protection theory". In this part, based on the bond holders of private bonds business actual vulnerable status of reference, and basic theory of law at home and abroad, are protected by law in particular provide theoretical support for private bondholders should.The fourth part:"the private bondholders self-help legal way-contract". Private placement bonds business because the natural lack of administrative power intervention, the relationship between the two parties is more in line with the "freedom of contract". This paper raised through private debt contracts with property specification, discusses the significance and feasibility of mandatory, standardized private debt contracts of private bondholders.