Research On The Reform Of Capital System And The Protection Of Creditor's Interests

The corporate capital system is the most basic system in the company's legal system.It has the function of not only establishing the way of raising capital and operation,but also coordinating the conflict of interests between the shareholders and the creditors.China's corporate capital system has undergone three major changes,from the strict legal capital system established in 1993 to the relatively relaxed legal capital system established in 2005 and then to the relatively modest legal capital system established in 2013.The most significant change in the reform of the corporate capital system in 2013 is to change the system of payment to the subscription hierarchy.Other contents included the cancellation of the minimum registered capital requirements,the elimination of the proportion of capital contribution and the limitation of time and the abolition of the statutory capital verification system and the annual inspection system and so on.The reform has had a great impact on the protection of creditors' interests.Therefore,in the case of the current reform of the capital system,for the protection of the interests of our creditors to improve the system is imminent.Perfecting the system of protecting the interests of creditors in China is imminent.This paper is divided into four parts.The first part analyzes and expounds the natural conflict between the shareholders and creditors of the company,and understands the importance and necessity of the corporate capital system to the interests of the two.Then it is the elaboration of the three major reform processes of the capital system of our country,and clarifies the current situation of the company's legal system and market environment after the reform of the corporate capital system in 2013.The second part analyzes the impact of the reform of the capital system on the protection of creditors' interests,including the cancellation of the minimum registered capital requirements,the elimination of the proportion of capital contribution and the limitation of capital contribution,the implementation of the subscription capital system and the cancellation of the statutory capital verification system and annual inspection system.The contents of these reforms have had a greatimpact on the protection system of creditors' interests in our country.The third part elaborates on the defects and shortcomings of the protection of the interests of our creditors after the reform of the capital system of the company,including the imperfect corporate credit mechanism,the imperfect corporate governance system and the imperfect system of corporate personality.Finally,the fourth part is to improve China's capital system reform under the background of China's creditor interests protection system of some specific methods and countermeasures.