A Reserch On Company’s Capital Supervision Under Subscription System

In order to protect the interests of creditors, Chinese "company law" vested the company’s minimum registered capital, capital contribution, investment period since 1994, but the result is not well as anticipation, for the statutory capital system impede the enthusiasm of investors and not well to protect the creditors. To solve these problems, the State Council issued the "registered capital system reform program" on February 18,2014. The program changed the statutory capital system to subscription system except 27 categories.Under subscription system, there are problems such as artificially large registered capital, too long subscription period and so on. Facing these problems, the administration for industry and commerce need effective ways to protect the interests of creditors urgently. In order to find effective measures for the puzzle, the author made an analysis about 573 newly registered companies by the administration for industry & commerce of Yunnan province. The analysis focuses on the amount of registered capital, shareholders structure, subscribed term etc. On the basis of consulting a large number of documents, summed up the current registered company’s capital problems, then made a reference to American experiences. Finally, advices were made for company’s capital supervision.This article has been innovative in the following aspects:Firstly, the analysis is based on the realistic companies registered by the administration for industry & commerce of Yunnan province in the last year, a lot of charts, tables draw the appropriate conclusions, made a persuasive essay. Secondly, the supervision about the company’s capital is divided into two stages, namely dynamic regulatory supervision of registered capital and the company capital during the company process, made novel and operative suggestions for improvement of the problems.