Pool credit assets
as a bridge between the asset side and the capital side, the local financial exchange undertakes the important mission of revitalizing the local economy. As a useful supplement to traditional financial institutions, the HKFE can effectively revitalize local stock assets, increase direct financing, resolve financial risks, maintain local economic stability, and use "financial technology" means to achieve efficient docking of capital and assets, so as to further promote the two-way "cost rection and deleveraging" between finance and real economy. With the continuous application of financial technology and the continuous improvement of financial supervision system, local financial exchanges will contribute to promoting the entrepreneurship and innovation of small and medium-sized enterprises
in such a society where credit is wealth, as a local financial asset trading center driven by blockchain technology, Qing united credit asset trading center Co., Ltd. (hereinafter referred to as the credit instry center) is committed to providing enterprises with the registration, right confirmation, circulation, transaction and settlement of credit assets, as well as asset securitization, financial proct development, data analysis, information exchange, etc Consulting and other services, strive to build enterprise ABS OTC trading ecological platform, help users turn credit assets into working capital, and promote the development of the real instry.
Because any kind of corporate capital system can only operate normally on the basis of certain social credit, and the two kinds of capital systems have different demands for social credit mechanism:
① the legal capital system, in essence, provides a legal expectation for the creditor's debt rights through the design of the system itself, or provides a legal expectation for the creditor's debt rights in the shareholders, the company, the company, the company and the company A credit mechanism should be established among creditors. The purpose of designing such a system is to establish a social credit mechanism with capital as a link among shareholders, companies and creditors in the absence of social credit mechanism, which has a low demand for social credit mechanism< (2) authorized capital system. In essence, it allocates the risk of limited liability prevention to the company's creditors. The limited liability risk is eliminated through other social credit mechanisms. Therefore, the authorized capital system has a high demand for social credit mechanism, which is difficult to operate without a sound social credit mechanism
at present, China is in the era of credit shortage, the market economy is in disorder, and a perfect social credit mechanism has not been established, such as the implementation of the authorized capital system, there is a huge incentive for shareholders to cheat creditors by using corporate personality. Therefore, if the authorized capital system is not matched with a sound company organization system, it will not only help the formation of social credit mechanism, but also, from a certain point of view, cause a new social credit crisis. Therefore, the legal capital system is still in line with China's national conditions, but should be improved. The meaning of "capital credit" is more prominent at the beginning of the establishment of a company. Capital is a static symbol, which is almost unchanged except for capital increase or capital rection. "Legal capital system" is more concive to the protection of company credit in the era of credit shortage, such as abandoning the legal capital system and paying no attention to "capital credit", It is likely that the credibility of the company is questionable from the beginning of its establishment
moreover, China has not established a "personality denial system" at present, and there is no corresponding post relief, which is very unfavorable to the protection of creditors' rights. Therefore, at the beginning of the establishment of the company, its credit depends on the capital credit, which is also the necessity of China's current national conditions; After the establishment of the company, "asset credit" graally emerged in the process of operation. Because the company's assets are a dynamic variable, with the company's operating profit or loss, its assets are changing all the time. Therefore, in the later operation process of the company, it is inappropriate to take the fixed capital as the yardstick of the company's credit< At the same time, the company's assets play a more important role in the company's credit for the following reasons:
first, the company takes the limited liability of shareholders and the company's own independent liability as its basic legal characteristics, and the so-called independent liability of the company is that it is responsible for its debts with all its assets, and the scope of the company's external liability depends on its assets, It does not depend on the registered capital
Second, there are two sources of the company's assets, one is the company's capital; The second is external liabilities. The company's profit and asset appreciation will make the company's assets higher than its liabilities, while the company's loss and asset devaluation will make the company's liabilities higher than its assets, resulting in insolvency. The dynamic nature of assets can better reflect the level of the company's credit. Therefore, in the process of the company's operation, it should be based on asset credit. Therefore, we can see that the protection of corporate credit should be based on the two shields of "capital" and "assets". Among them, when the company is established, it should adhere to the legal capital system; In the process of company operation, assets should be taken as the basis of credit
