Research On The Legal System Of Corporate Credit In China

Since people began business transactions, people will trade with someone with good credit. In the early commercial activities, commercial credit depends on the integrity of businessmen and business practices, social public opinion. However, with the expansion of business transactions, trading counterparts are no longer limited to acquaintances. The establishment of the commercial credit more rely on legal norms. The credit is no longer an issue of ethics or the economy, and is a legal problem. Company as the main form of economies, Fraud of big company has great harmfulness to the society.And the company will suffer a great loss when he lost his credit. These factors make the company credit should be special regulation of law. According to their own actual situation, most countries set up a corresponding legal system to rule the credit problems of company, but focusing on building the corporate governance system. Such as the company capital system、 the corporate governance structure、restrictions of the minimum registered capital and a legal person denial system and so on.This legal system reflected the lawmakers attache great importance to the corporate governance system. However, with the development of social economy, our country market suffered a credit crisis. According to statistics, because of bad deb, our country is facing economic losses of up to 180 billion yuan every year. Fake and inferior products caused the loss of at least 200 billion yuan. The debt and cash transactions increase the financial cost of about 200 billion yuan. The credit problems of company not only increase the burden of the market, also make market transactions at increased risk. Under the background of new era, the legal system exposes its limitations and hysteresis. Take the company capital system for example, our "company law" has a strict legal capital system. The reason is to fully consider the company’s property attribute. In recent years, some scholars constantly the company credit’s property attribute. This trend is not confined to theoretical circle, state legislators and policymakers also began thinking the essence of company credit and regulation of credit, "company law" promulgated in2013, reform the statutory capital system to authorized capital system. Reform is happy, but also cause some social problems. The cancellation of minimum registered capital will degrade the guarantee function of company capital system. But the author thinks that the reform is the first step to build our company credit legal system. Lawmakers will gradually improve the legal system of company credit. On the other hand, the construction of legal system of company credit will promote the development of social economy and improve the system of the company. Through the research on the legal system of company credit, I hope this article will make some contribution to construct and perfect the credit system of our company.