The Company's Assets Credit Legal System Research

The company capital system is one of the key systems of company law, which constitute the core content of corporate law with corporate governance regime, has a very serious impact on commercial activities even the whole economic activity. The capital system has a direct impact on one country’s international competitiveness. Foreign countries including many developed countries had began the review and reform of capital system from1950s and1960s in last century. Our last company law issued in1993, when our country was in economic transformation period, our social economy order was messy, market economy was still underdeveloped, the capital market was not mature, laws was incomplete, legislation, law enforcement, judicial process had poor convergence condition. The company in our country was still at the beginning stage, once appeared a undesirable phenomenon that the company was excessive set. In such an environment, in order to prevent the fraud in the establishment of companies, protect the interests of creditors, protect the transaction security as well as the overall economic stability, capital credit conception as the leading conceptions in company capital system emerged as the times require.However, after all, capital credit is unreliable for protecting creditors and maximizing the interests of the shareholders. With the development of our country economy, the malpractice of capital credit gradually revealed, restricted the freedom of shareholder to spontaneously arrange the issue of shares and subscription to capital stock, limited investment diversification. When company law professors understanding and reviewing the corporate capital credit conception, gradually realized that the company should take the assets as the letter, the idea reform of believing assets and completing company capital system of company law that matches economic development has become the urgent problem to be solved.Therefore, exploring the idea of company capital legal system and construction of related system, promoting the balance of benefit between shareholder and creditor, achieving the benefit maximization, are meaningful for constructing the perfect order of socialist market economy.