On The Evolution Of Corporate Capital System In China

The 2013 Amendment to the Company Law, which Greatly changed corporate capital system in China. Researching for the reform and trend of Corporate Capital System is advantageous to the present theoretical study and practical application. This paper briefly explain the development history and achievements in China, based on the basic theory of Corporate Capital System, and used the methods of comparative analysis and value analysis. This paper have analyzed the background and reasons of modification on Corporate Capital System in 2013, which include the construction of Inclusive Economic Institutions, the company autonomy,the quitting of executive power from the part of the market field, the innovation of Corporate Regulatory and the equality of opportunity for entrepreneurship. This paper focuses on five contents of the modification in 2013: there is no longer the requirement of the statutory minimum amount of the registered capital; the actual paid-in of registered capital is changed into commitment to payment of registered capital; there is no longer the proportion of monetary contribution; the requirement of capital verification and certificate is canceled; and corresponding amendment is made on the registration system. Based on the analysis of the modification in Company Law and the theory of corporate capital system,this paper determines the type of the Corporate Capital System, which is Statutory Capital System. At the same time This paper analyse the significance and problem of Reform of Corporate Capital System.In the end,the paper predicts the future of the Corporate Capital System in China.