Research On The Accelerated Expiration Of Shareholders' Capital Contribution Responsibility Under The Subscription System

After the revision of the Company Law in 2013,the capital system and registration system of companies were revised,and the minimum registered capital and the corresponding capital verification procedures were abolished,making the registered capital of a company a "blank check" that does not need to be cashed immediately or repaid when due But it is worth mentioning that the Minutes are only a "quasi-legislative" document issued by the Supreme People's Court.However,it is worth mentioning that the minutes are only a normative document with the nature of "quasi-legislation" issued by the Supreme People's Court,and the legal status cannot correspond to the judicial interpretation.Therefore,at this stage,the Company Law(Revised Draft)announced in 2021 will include the accelerated expiration system of the liability of the shareholders' capital contribution of limited liability companies.From the perspective of balancing interests,the accelerated expiration system is more advantageous and reasonable in protecting creditors and balancing the rights and interests between creditors,companies and shareholders.In the context of the subscription system,the accelerated maturity system should also be continued to be improved at the legislative and judicial levels,and at the same time,through improving the internal collection mechanism of the company and other means,internal and external cooperation can strengthen the protection and relief of creditors and stabilize the order of commercial transactions.