Research On Creditors' Protection Under The Subscribed Capital System

Corporation as the principal part of economic activities has occupied an important position in the market-oriented economy,and its capital system is an important foundation of the successful operation for a company's operation.Capital system has always been the core of corporate law,and therefore is the significant content of each reform and center point.In March,2014 the National People's Congress formally promulgated the "Company Law" amendment,one of the most important reform is to modify the company registration capital.In the form of legislation,the statutory capital system was changed into subscribed capital system which is based on our current national conditions and the company development trend.This reform is essentially to reduce the burden for company establishment which drives the autonomy of the enterprise's operation and active the entire economic market.The company capital system is a lever that can balance the profits among shareholders,creditors and public interest.During the reform process,how to protect the creditors' interest has become an inevitable problem.Particularly,in the current situation,our creditor protection system is not complete yet,we must not only meet the trend of reform but also to protect the rights and interests of creditors,which is still a long way to go.This thesis based on several research methodology.First of all,the author illustrates the meaning of capital system and creditor protection mechanism and combine with the historical reasons and development of the capital system in our country,expounds the current situation of creditor protection and the changes of legislation on this.In accordance with the existing creditor protection mechanism in China,this paper analyzes the impact of the capital system on creditor protection after the new reform,and then sums up the defects of creditor protection system under the subscribed capital system.Finally,the writer take examples by the legislative practice from developed countries including America,UK,Germany,Japan and so on,evaluate and analyze some advanced systems and regulations.By doing this,this paper also give a few suggestions from some aspects that cover the procedures,accountability and supporting systems.This paper has four parts: For the first part,it mainly expound the the subscribed capital system with the elements of its background,concept and historical development.The second part explains the present situation and the existing problems of the "subscribed capital system" and summarizes those inadequacies.The third part briefly analyzes some of the advanced experience in the fields of foreign capital system and creditor protection from some developed countries.In the fourth part,by analyzing the relevant cases,and then elaborated the corporate creditor protection mechanism under the subscribed system,with a view to learn from the progressive legislation and practice from those developed countries hoping to improve and optimize China's corporate creditor protection system.