The rational attitude to limited liability company in China＂ Company Act revision should follow the trend from appendix role to mainstream role , from the mixture of the character of personal joint and character of capital joint to the character of capital joint, and respect the fact that large majority and large-sized companies adopt this corporate form. Limited liability companies should be modified in accordance with private companies＂ charac- ter, increasing its capital character while decreasing its personal character. At the same time, ex ante regulation should be diminished to enhance the flexibility in corporate formation and administration. Company law rules should be devised as model rules and commercial contract doctrine and good faith principle should be introduced to resolve the disputes between the shareholders.
Journal of Chongqing University（Social Sciences Edition）
limited liability company
character of personal joint