From the perspective of legislation, judicature and even the whole academic theory, China's company law shows a distinct concept of capital credit and the corresponding system. But in fact, the whole corporate credit system with capital as the core is not fully qualified for the mission of protecting the interests of creditors and the security of social transactions. It is not only the company's capital that determines the company's credit, but also the company's assets play a more important role in it. The basic idea and direction of China's capital system reform is from capital credit to asset credit, from legal capital system to authorized or compromised authorized capital system. Therefore, we should comprehensively reform the minimum capital, shareholder contribution, capital contribution, stock withdrawal mechanism, company reinvestment, prohibition of share discount, prohibition and restriction of share repurchase and other corporate systems that match asset credit.