The newly revised Company Law has systematically responded to some previous institutional problems.Its article 50 on the shareholders'liability for capital replenishment at the time of establishment reflects the legal principle that the company should be established according to law,and is the result of the improvement of the theoretical understanding of the company in the process of establishment in our company law,and corrects the simplified cognition of the shareholders'liability for insufficient capital contribution at the time of establishment before the revision.Moreover,it and Articles 51 and 52 jointly ensure the determination and enrichment of the company's capital at the time of the company's establish-ment,and together eliminate the joint liability risk of other shareholders who have made full contribution after the company's establishment before the amendment of the Company Law,which is in line with the logic of the Company Law,and is con-ducive to"improving the modem enterprise system with Chinese characteristics and promoting the entrepreneurial spirit".
established companyshareholders at the time of establishmentlawfully establishedcapital replenishment