Logic and Choice of Legal Capital System Reform

The statutory minimum limitation of capital and paid-in system played a great role in protecting creditors' interest during the incipience of the commercial development. Meanwhile, they also caused a series of problems, such as wasting resource and discouraging investment. The abolition of the statutory minimum limitation of registered capital and paid-in system does not increase the transaction risk of the creditor. The key lies in the imperfection of the creditor benefits protection normative system itself, while the legal capital system reformation promotes the perfecting process of the system. Therefore, if taking a profound analysis on the formation mechanism of statutory capital system reformation, strengthening the information disclosure, improving the company's financial accounting system and the corporate personality denial system and other supporting measures are useful for protecting the creditor's interests.