对股权出资问题的思考与建议

Contemplations and Suggestions on Stake Investment

股权出资对优化公司资源配置、调整持有者资产结构、发挥资本市场功能、完善上市公司法人治理具有重要作用。股权出资在我国实践中存在操作难和不规范等问题。我国股权出资管理与登记应把握四个重点问题:即对投资人、股权公司、被投资公司的范围给予适当限制;股权出资不应受30%货币资金配套的硬性制约;股权不应作为对被投资公司的首期出资;投资人用作出资的股权必须清晰、完整并已足额缴纳。

Stake investment plays a significant role in optimizing the allocation of resources, adjusting assets structure of share holders, improving the function of capital market and perfecting corporate governance. However in china, stake investment confronts difficulty and irregularity in practice. There are four key problems imperative to ad- dress. First, limiting the scope of investors and company-including both investor and recipient company; Second, stake investment should not be restrained by 30% counterpart money funds; Third, shares should not be used as the initial equity on the investment company; Last, the stake which investors use as investment must be clear, complete and paid in full.