Study On The Protection Of Creditor’s Interests Under The Reform Of Capital System

The reform of China’s capital system reflects that the state’s cognition of corporate credit has changed from capital credit to asset credit at the legislative level.The establishment of subscribed capital system is of great significance for invigorating market economy and increasing social wealth.However,in the design of the system of subscribed capital,the legislators focused more on loosening the bonds and empowering the shareholders,but neglected the protection of the creditors.The accelerated expiration of shareholders’ subscribed capital is an effective way to remedy creditors’ rights without damaging the interests of shareholders.In addition,based on the duty of diligence owed to the company,the director shall timely urge the shareholders to pay the capital contribution,otherwise,the director shall be jointly and severally liable for the loss of the company.Therefore,in the absence of creditor protection measures in the current capital system,the accelerated expiration of shareholder’s contribution can re-balance the interest relationship between shareholders and creditors,and a sound call contribution system can provide a flexible capital guarantee for the normal operation of the company,so as to maintain transaction security and investment security.