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RE-EXAMINING CORPORATE POWERS ALLOCATION AND THE ROLE OF COMPANY LAW: A PERSPECTIVE FROM CHINESE COMPANY LAW



Author(s)

Cao Qing & Zeng Bin

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DOI:10.17265/1548-6605/2011.05.005

Corporate governance has been a hot topic in all jurisdictions. In China, both scholars and lawyers have been criticizing the corporate powers authorized by the statutory law and the role of the company law. In this article, the author will analyze these issues though a comparative approach, concluding that the law divides the corporate power clearly and logically though it looks rigid and inflexible. Given the context of China’s transitional economy, it is premature and not appropriate to allow the shareholders and the board of directors to re-allocate the fundamental powers via the articles of association.