literature Comparative English original

An Examination of Partly-Paid Shares in China's New Company Law and Lessons for Comparative Company Law

Comparative article on partly paid shares, stricter contribution rules in China's new Company Law, and the continued use of paid-up capital for distributions and pre-emption rights.

Open source

Brief English Introduction

Li and Cai explain why China’s tighter contribution rules may be justified by creditor reliance on unpaid capital, while also warning that eliminating partly paid shares in public companies may reduce useful legal flexibility.

Use It For

Use it to compare China’s post-2023 capital discipline with global trends toward capital-rule liberalization.

Teaching Notes

This is a good companion to the subscribed-capital registration readings.