The Regime of Representative of Corporate Body for Joint-stock Companies in China: To Preserve or to Abolish?

The representative of a corporate body for China's joint-stock companies is a unique regime in the world. From its origin and development we can find that it is closely related to the traditional state-owned economy in China. On theoretical analyses of some particular problems concerned, and observation of its present function, this author concludes that this regime should be abolished since it is not conducive to the development of China's joint-stock corporations or to the administration of modern companies. Based on this conclusion and a comparison with a relevant German system, this author offers his advice on the amendments of the Company Act of the PRC.