1999 background and significance of the revision of the company law

The background is the establishment of the socialist market economic system, and the significance is the important progress of China's economic reform. China established the socialist market economy system in 1992. In order to transform the operating mechanism of state-owned enterprises and standardize the organization and behavior of main market competitors, China promulgated the Company Law on 1993+02+09. The revision of the company law is an important progress in China's economic reform and an important node in the process of China's market-oriented reform.