在欧洲商业组织引入中国以前,中国的实体股权长久以来一直依靠文化的以及法律习俗所支撑。在缺少法典化、系统化的私法惯例之下,深深植根于日常惯例之中的契约文化和使私人契约生效的政府维持了商业的日益增长。类似的惯例满足了商界寻求方法聚积资本并长久维持商行的需求。这些习俗的发展有助于解释西方式的公司法颁布之后中国对西方判例的适应性以及中国习俗自相矛盾的存留状态。 Before the introduction of European business organizations into China, the physical ownership of China has long been supported by cultural and legal traditions. In the absence of codified and systematic private law practice, the contractual culture, deeply rooted in routine practice, and the government that brought the private contract into force maintained its commercial growth. Similar practices satisfy the business community’s desire to find ways to accumulate capital and maintain long-term business continuity. The development of these practices helps to explain China’s adaptability to Western jurisprudence and the paradoxical persistence of Chinese customs after the promulgation of the Western corporate law.