Issues in the Protection of Minority Shareholders’ Rights and Interests under China’s Company Law

Shuliang Wang

Chapter 4 in Changing Corporate Governance Practices in China and Japan, 2008, pp 52-62 from Palgrave Macmillan

Abstract: Abstract On December 29, 1993, the Standing Committee of the National People’s Congress (NPCSC) of China adopted the Company Law of the People’s Republic of China (PRC), which was the first of its kind since the establishment of the PRC. Because of the historical background of the era when economic reform was begun, the contents and description of the Company Law were rather simplistic, and some of its articles simply didn’t make sense. Following the development of the market economy in China, the Company Law obviously could no longer meet the practical requirements of the economy. Although amendments were made by the NPCSC on December 25, 1999, and August 28, 2004, respectively, appeals for a complete revisal of the Company Law grew stronger and stronger. After a draft of the revised version was reviewed a number of times, the 10th NPCSC adopted the revised Company Law at its 18th General Session on October 27, 2005. (The revised Company Law is hereinafter referred to as the “New Company Law,” and the original version before this revisal is hereinafter referred to as the “Former Company Law.”)

Keywords: Corporate Governance; Vote System; Minority Shareholder; General Meeting; Limited Liability Company (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59515-6_4

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DOI: 10.1057/9780230595156_4

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