Abstract:
As the Corporate Law is facing the sixth reform, reflection and re-orientation of its core principles will help to declare legal values, clarify legislative goals, set legislative keynote, restructure legal language, guide legal interpretation, improve legislative quality, and increase its global competitiveness. The primary principle is to safeguard corporate right to survive and thrive, facilitate corporate sustainable growth and strengthen corporate vitality. The second principle is to protect shareholders’ rights, persevere the value of shareholder primacy, encourage investment and entrepreneurship, and prevent capital migration. The third one is to respect corporate creditor’s rights, secure transactions, reduce transaction cost, activate transactions, and curb financial risks. The fourth one is to empower corporate social responsibility, balance fairness and efficiency, cultivate well respected and inclusive business models, and promote high-quality economic development. The four compatible principles should be articulated and reflected both in the general provisions and the whole system of Corporate Law.