The amendment of Company Law in China is now in a rapid process. With the chief goal to serve SOEs' reform, the Company Law in China is deeply embedded with the attributes of control. The neoclassical economics argues that the company is the nexus of a series of contracts, and the inherent rational order would be created by competition from various contracting parties, so the exterior institution should not be imposed upon companies. The company contracts, however, are the long一term and relational ones. The company law, construed as a standard contract, makes up loopholes of various company contracts, but does not replace the contracts among parties. Only with the contractual perspective and the market orientation, could the legislators lay out the company law as it should be. |