The Interests Protection Of Company Creditors Based On The Subscribed Capital System

With the development of China’s market economy, a large number of rules need to be adjusted. In order to comply with the development trend, our "Companies Act" has set up the subscribed capital system. A company can be established only if company’s shareholders subscribe the company’s registered capital. This adjustment improved the efficiency and reduced the costs of establishing company. Meanwhile it has weakened the capital guarantee of company creditors’ interests under the original paid-in capital system. However, the existing protection of company’s creditors’ interests is not completed in China, therefore we need to figure out a system which can be adapted to the new capital system environment based on the existing rules about the company creditor protection. The interest protection of company’s creditors is not only protecting the interests of the group, but also the key to maintain market order.At present, a great number of enterprises in China still lacks of organization culture, marked as failed to maintain their integrity and credibility. In parallel with relaxing the contribution form in subscribed capital, it is especially necessary to establish and promote the protection system of corresponding creditor to maintain a strong and stable economy development. Starting from defining subscribed capital system, the article has used induction, comparison as analysis methods to put forward the current provisions about subscribed capital system, and analyzed the current provisions of interest’s protection of company creditors in existed system. Basic cognitive changes is necessary in protection of company creditors’ interests. What’s more, we also need to figure out the imperfections and shortage of legislation and put forward a sound proposal based on the research. This article is divided into three parts:the first part briefly introduced the meaning of subscribed capital system and relevant provisions of subscribed capital system in our country, then analyzed the necessity of protecting the interests of company creditors starting from the advantages and disadvantages of subscribed capital, thus illustrated the purpose and significance of the article; The second part mainly listed the current legislative status of interests protection of creditors and discussed the existing problems. At present, China’s corporate capital system has changed, and this article presented shortcomings on the basis by fully taking the impact of this change into account; through the analysis of the current legislative situation, the third part put forward reasonable and feasible recommendations on the basis of the company creditor benefit protection regulations. In addition to the proposals for improving the existing system and new system proposals to adapt to the new market environment were presented as well.With the development of economy, the law also should also keep pace with the times in order to be adjusted into problems solver. The reform does not mean opportunities only but also new challenges. China’s current regulations about the company creditor protection are not mature, therefore it has a long way to protect the interests of company creditors under the subscribed capital system.