On The Protection Of The Interests Of Corporate Creditors Under The Registered Capital Subscription System

China's traditional company law has embodied the concept of statutory capital system from beginning to end,and the capital three principles of "capital determination principle,capital maintenance principle and capital invariance principle" have been implemented in the concept of legislation,justice and law enforcement in our company law,which contains capital credit and liability theory in the early stage of China's market economy development.It has played an indelible role and exerts a far-reaching influence on the main body of market operation.However,with the gradual improvement of the market economic system and the objective reality of economic development,the purpose of protecting the interests of creditors by the concept of capital credit has proved to be an unrealable goal,and at the same time,the shackles of capital credit concept on investment can no longer meet the needs of the market.In this market environment,the concept of asset credit is applied,and the concept of corporate creditor's rights guarantees the transformation from capital credit to asset credit,which is further reflected in the legislative changes.This is a major change in China's registered capital system in 2013.In the judicial practice,there are also new problems that need to be considered and solved.Based on this,starting from the development and reform of China's capital system from 1993 to 2013,this paper expounds the basic contents of the registered capital subscription system and the necessary basis and conceptual support for the transformation of registered capital,and discusses the change of the concept of creditor interest protection from the registered capital subscribed system in China,and analyzes the registered capital recognition.The new problems arising from the revision of the contents of the shareholder's capital contribution,form of contribution and time limit for capital contribution under the system of payment are put forward in the judicial practice,and some personal opinions are raised on the doubts about the transfer of shares under the subscription system,and the redefinition of the withdrawal of capital contributions,and corresponding solutions are put forward.In view of the establishment of the protection mechanism of creditors' interests,the importance of strengthening the publicity and publicity of information under the subscription system is put forward,and measures for establishing and perfecting the information publicity and publicity mechanism of enterprises nationwide are pointed out.And put forward some suggestions and ideas for establishing and perfecting the accountability mechanism of directors,supervisors and senior managers in China.