Latest Interpretation of the Company Law Articles

Author: Jiang Ping
Publisher:
Publish Date: 2006-01-01
Features: The 18th session of the Standing Committee of the 10th National People's Congress passed the "Company Law of the People's Republic of China" (Revised) on October 27, 2005. The new Company Law, based on the new requirements of China's social and economic development and drawing on the new achievements of company law reforms in various countries, conducts an in-depth analysis and argumentation on many important issues in practice. It modifies or cancels existing provisions that are out of touch with reality and further refines effective systems and rules. The changes and innovations of the new Company Law mainly lie in the following aspects: , In terms of the capital system, the new Company Law reflects a legislative philosophy shift from solely emphasizing capital credit to balancing capital credit and asset credit. It lowers the threshold for company establishment, relaxes excessive regulation on companies, significantly reduces the minimum registered capital requirement for company establishment, and broadens the restrictions on shareholder contributions. Since the promulgation of the new Company Law, correctly understanding and fully implementing its new content, continuing to comprehensively review and study the legal systems related to this law, actively researching and discussing the establishment, revision, and abolition of relevant legal systems, and continuing to monitor the implementation of this law to accumulate experience for the further improvement of relevant systems, have become common tasks for relevant judicial and administrative organs. In view of this, our publishing house has organized experts and scholars from the Standing Committee of the National People's Congress, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Public Security, the Ministry of Finance, the People's Bank of China, the State-owned Assets Supervision and Administration Commission, the General Administration of Industry and Commerce, the China Banking Regulatory Commission, the China Insurance Regulatory Commission, China University of Political Science and Law, Renmin University of China, Peking University, Tsinghua University, Beijing Normal University, the University of International Business and Economics, and other departments and units to jointly write this series of "Practical Series on the New Company Law and Related Regulations." The authors of this series include not only important members of the expert group for the revision of China's Company Law and experts from the highest legislative body but also senior judges from the Supreme People's Court who participated in the revision of the Company Law, judicial interpretations, and administrative interpretations, as well as experts from relevant central government departments. There are also university scholars dedicated to the study of the Company Law and those who participated in discussions on the revision of the Company Law. In the specific writing process, they adhere to the original intent of the legislation, combine with practical difficulties, and provide comprehensive, systematic, and detailed interpretations and explanations of the specific systems of the new Company Law (especially the newly established systems in this revision) and their applications, from different perspectives and levels.