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자료유형
학술저널
저자정보
저널정보
한국재산법학회 재산법연구 재산법연구 제20권 제2호
발행연도
2003.1
수록면
237 - 253 (17page)

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From 1978, China took a great turn to adopt a reformative and open-door policy. Numerous laws and regulations also have been adopted to encourage foreign investments and domestic economic reforms backed up by unflagging economic development since the declaration of introduction of a market economy in October 1992. The Company Law of the Peoples Republic of China enacted in December 1993 prescribes only the form of a limited liability company and a joint stock limited company in order to incorporate the pre-existing stated-owned enterprises. Under the Company Law, both Limited Companies and Joint Stock Companies have been adopting the 3 principles concerning the capital, adhering to the principle that shareholders must pay up the registered capital stipulated in the articles of association. The Company Law provides that the total amount of registered capital must be registered in the articles of association at the time of establishing a company, and the company becomes established only if shareholders pay for the shares that they have subscribed for in accordance with the articles of association. With regard to the minimum amount of registered capital, the requirement for a Chinese Joint Stock Company is Rmb 10 million (roughly 1,500,000,000 Won), which is thought to be too much, considering the level of economic development in China. In the long term, it is recommended that China, in principle, keep the principle of requirement of payingup registered capital in accordance with the articles of association and adopt an authorized capital system in which the board of directors authorizes some portion of shares to be issued to raise capital at the time it sees fit. As pointed out above, China does not recognize . But it is thought that allowing the establishment of one man company directly under Company Law is more desirable than adopting the system by preparing an exceptional provision to some other laws.

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