Research On The Operation Mechanism Of China's Corporate Bondholders' Conference System

The corporate bondholders' rights protection mechanism in China adopts the corporate bond trustee system and corporate bondholders' meeting system.And he current departmental regulations have a clearer definition of the corporate bond trustee system,however,it has been delayed to determine the status and specific operational mechanism of the corporate bondholders' meeting system.For bondholders who rely on the holder's conference system to defend their rights,their rights protection lacks legal support.As bond disputes increase,it will inevitably hinder the healthy development of the bond market.Therefore,from the perspective of protecting the rights and interests of bondholders,this paper summarizes the experience of foreign countries,and puts forward the specific path to improve the operation mechanism of corporate bondholders' meeting system.The corporate bondholders conference system has a long history of development in civil law countries and has formed a relatively profound theoretical foundation.However,as an imported product,the development of this system in our country is not smooth.Through combing the development process and related case studies,it can be found that it has been unable to adapt to the new developments and new changes in the bond market.In practice,there are still many practical problems in the specific operational mechanism of the corporate bondholders' meeting system.It includes the low legislative rank of the system itself,the absence of internal elements of the conference operating mechanism,and the poor connection between external factors and the bond trustee system.On the contrary,some countries of continental law system,such as Japan,France and Italy,have clearly defined the specific operation mechanism of the bondholder meeting system in their basic laws,which provides useful experience for the construction of the operation mechanism of the system in China.In order to protect the rights and interests of bondholders,we should perfect the concrete operation mechanism of the meeting system of corporate bondholders in China.Specifically,this includes improving the legislative hierarchy,legalizing the internal elements of the system's operational mechanism,and strengthening interoperability with the bond trustee.In the construction of various elements within the operational mechanism,In terms of the construction of various elements within the operational mechanism,it specifically involves the convening procedures of the meeting,the distinction between ordinary resolutions and special resolutions,the validity and validity of resolutions,and the rights relief of dissident holders.In terms of external factors,we should determine the primary and secondary differences between the bond trustee system,promote the integration of the two systems and establish a unified bond application rules.Through the above-mentioned path,the legislators' negative attitude towards the protection of bondholders' rights and interests will be improved,and the operational mechanism of the corporate bondholders' meeting system in China will be improved.too.