On Protection of the Listed Small and Intermediate Stockholders with the Company Law

Many incidents took place in the Chinese stock market in 2001, such as the Zhengzhou Baiwen Incident, the Bankruptcy of the ST Monkey King, Chundu A and the Minzu Chemicals. All this revealed the events of the listed large stockholders violating the interests of the small and intermediate stockholders, which had been stored up for long. So the protection of the small and intermediate stockholders again drew the attention of the workers in the legal field. This paper puts forward some opinions on the protection of the small and intermediate stockholders. The paper suggests that the accumulation voting system and the system of independent board of directors should be introduced, the system of voting right removal should be pinpointed, the stockholder derivation lawsuit should be set up and the monitoring force of the stock monitoring committee and the educational force of the investors should be strengthened. The paper also points out that a complete set of law system concerning the beforehand and after - event relieves, the internal restrictions and the external monitoring should be established so that the benefits protection of the small and intermediate stockholders can be realized.