| In 2013,our country revised the "Company Law",reformed the corporate capital system,and transformed the corporate capital system from the paid-in capital system into the subscription capital system.The revolution of the subscription capital system established a complete subscription capital system in the form of legislation.The subscription capital system no longer limited by time and canceled the statutory minimum registered capital and statutory capital verification procedures.The advantage of this reform was that it was greatly easier to set up a company and it stimulated the enthusiasm of investors.It set off a new wave of mass entrepreneurship and formed a new trend of innovation for everyone.The disadvantage of this reform was that it brought more risks to creditors.We need to study further how this reform can encourage investment and reduce creditor risk simultaneously.This paper is divided into three parts:The first part analyzes the basic meaning and legal characteristics of the corporate capital system,and analyzes the important functions of the corporate capital system by comparing the differences between the shareholder rights and creditor protection concepts under different corporate capital systems.The second part analyzes the current subscription capital system.This part analyzes the historical evolution of the capital system in the Company Law of China,the differences between different capital systems in connotation and protection of creditors,and the reasons for choosing different capital systems in different stages.This paper emphatically analyzes the existing problems of the current subscription capital system.The third part aims at the problems existing in the current subscription capital system and puts forward the corresponding improvement measures,in order to contribute to the improvement of creditor protection under the subscription capital system. |
