SHS Web Conf.
Volume 148, 2022The 2nd International Conference on Public Relations and Social Sciences (ICPRSS 2022)
|Number of page(s)||6|
|Section||Public Relations and Gender Equality Analysis|
|Published online||31 October 2022|
Analysis of the Introduction of Non-denominated shares
Peking University Law School
With the enactment of the Company Law (Amendment) Act 2021 and the public consultation, the authorized capital system began to be accepted by our company law. Closely related to it, the system of non-denominated shares was also confirmed in the draft. For a long time, China has been practicing the par value share system, which undoubtedly played a role in safeguarding the equal capital contribution relationship among shareholders, preventing the company from improperly distributing dividends, protecting the company’s continuous operation and being solvent under the framework of the early company law theory. However, with the development of the market and corporate governance, the actual function of the par value share system seems to be gradually deviated from the original purpose of its establishment. The purpose of this paper is to demonstrate the advantages of implementing a system of non-denominated shares, and also to suggest some supporting institutional arrangements after the introduction of non-denominated shares.
© The Authors, published by EDP Sciences, 2022
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.