A study on the development of company law in P.R.C.-Based on the revision of the company law in 2005
Date Issued
2008
Date
2008
Author(s)
Chiu, Kuang-yu
Abstract
Abstract Company Law of the People’s Republic of China was promulgated at the end of 1993, and came into force on the first day of July, 1994. Although three articles of the law had been adapted for the change of state-owned sole proprietorship company, high technological development and the enlargement of company financing, these modifications were too narrow to respond to the huge transformation of China’s economic market system in recent years. For the above reasons, the Tenth National People’s Congress Standing Committee passed the wide revision of the Company Law in 2005. This study aims at investigating the revision of the Company Law of the People’s Republic of China in 2005, and compared and analyzed the influence of the revision. This thesis is primarily based on the approach of analytical positivist jurisprudence supplemented by the approach of sociological jurisprudence. Furthermore, this study takes literature review and conducts a comparative study to explore the issues involved in the revision and development of China’s Company Law. This study is divided into three parts in framework, introduction, main body and conclusions. In the part of main body, chapters two to five, it starts from the background and history of China’s Company Law. And in chapter three and four, it analyzed the difference between China’s Company Law of 1993 and that of 2005, and compares the respective legislative development and contents of the Company Law in Taiwan and China. Finally, in chapter five, this study starts from the revision of Company Law in 2005 to probe into the relationship between China’s Company Law and China’s economic reform , and it further discusses how China can do to coordinate its Company Law, Chinese-Foreign Equity Joint Ventures Law and Chinese-Foreign Contractual Joint Ventures Law and Foreign-Capital Enterprises Law after joining WTO. In conclusion, the study contends that the modification of the Company Law of the People’s Republic of China in 2005transferred the law from the old, controlled paradigm to the current incentive paradigm. In other words, China’s Company Law is moving in the same direction with Taiwan’s Company Law. Therefore, it shows the revision was on the way to conform to the international standard gradually. The result means that the revision was fit for the inside requirement of the market economy’s equality, efficiency and security, and the outside requirement of the WTO rules. In the future, in order to accord with WTO rules of national treatment principle, there is an irresistible trend for China to integrate legislation for regulating domestic and foreign capital. Moreover, it is the only way to set up and develop a socialist economy legal system for China.
Subjects
company law, old company law
revision
comparison
planned economy
socialist market economy
SDGs
Type
thesis
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