My Opinions On Perfecting China's Creditor's Funding System

After the reform and opening up,China's socialist market economy system has been matured and perfected after more than 20 years of development from its establishment to the present.Although creditor's rights have certain risks due to characteristics such as their own characteristics and complexity,the creditor's rights act as a The form of investment has been frequently seen in the shareholding of Chinese enterprises,which also proves the practical significance and feasibility of the capital contribution.In the world,most countries have legislated the legal status of the creditor's capital contribution.Under the current development situation,according to the characteristics of the creditor's capital contribution,relevant legal regulations and policy regulations are implemented to specify the specific standards that can be used to fund the creditor's rights.The corresponding discount rate regulates the specific process of creditor's capital contribution,and makes clear the guarantee responsibility that debtor-funded shareholders should assume.This is a practical issue that China's current corporate legislation should face and appropriately solve.This is also in line with China's current deepening of capital system reforms.The basic requirements.The reason why the legitimacy of the creditor's contribution is not recognized in the company law,the fundamental reason is the conservative of the legislator's concept and the deviation of ideological understanding.The creditor's contribution shows the diversity of the funding methods,and it also has the legitimacy and rationality of its system,which is in line with the current high-speed development needs of China's economy.This article is mainly composed of five parts.The first part is the theoretical overview of creditor's contribution,starting from China's first case of debt-to-equity swap and extending the related concept of debt-funding.The second part is the current situation of the development of China's creditor's contribution system,including the current situation of legislation and practice.In China's judicial practice,the representation of creditor's rights is mainly convertible corporate bonds,commercial debt to equity,and capital contribution to third parties.The third part is the legal risk analysis of creditor's investment.The characteristics of creditor's capital contribution are mainly the non-dominating nature of creditor's right,the nature of creditor's rights and the non-publicity of creditor's right investment.The legal risk of creditor's right investment is mainly the issue of authenticity of creditor's rights and fulfillment.Process risks and implementation legal risks.The fourth part is about the establishment and improvement of creditor's capital contribution risk control mechanism.Focusing on the beforehand,during and after the event risk control of creditor's capital contribution,specific recommendations are made.The fifth part is the conclusion part.