Research On The Evolution Of Registered Capital System Of China 's Limited Company

Capital is the material basis for a corporation to survive and develop, while the corporate capital system and the corporate governance are two core issues of Company Law. Proper corporate capital system is important means to stimulate the economiac vitality and encourage entrepreneurship. With the progress of the legislative idea of Company Law, the need for social and economic development, and even the need to compete witn other countries in the world, the PRC’s Company Law experienced several adjustment since it was established in 1993. This paper mainly studies the evolution of registered capital system of a limited liability company in the PRC’s Company Law, analyses its cause and effect, and gives suggestions to the perfection of the futuristic registered capital system.This paper is divided into four parts:The first part introduces the related concepts and basic theories of the registered capital system of a limited liability company, including the concept for the orporate capital, the three main forms of capital system, the statutory capital system, authorized capital system, the eclectic capital system, and the analysis for meanings of the registered capital system.The second part introduces the formation of the registered capital system of a limited liability company in our country, and the adjustment for the registered capital system of a limited liability company during the previous revisions of Company Law since it was established in 1993, which were analysed and summarized as well.The third part analyses the internal logic of the revisions for the registered capital system in the PRC’s Company Law, as well as the impact on social economy after the previous adjustments.The fourth part in which suggestions are given mainly on further promoting the market main body equality and the harmony of the legal system, and perfecting the limited liability companies’ transition from capital credit to assets credit, combined with technological progress, in the PRC’s futuristic Company Law.