According to Article 47 and Article of 52 of the revised Company Law, the registered capital subscribed by all the shareholders of a limited liability company shall be fully contributed within 5 years upon incorporation of the company. If the shareholders fail to pay their subscribed registered capital within the prescribed time and grace period, they may lose the equity of the unpaid registered capital.
The Company Law of the PRC, which came into effect on 1 July 2024, expressly stipulates the capital contribution liabilities of the transferor and transferee after equity transfer in a limited liability company.According to paragraph one of Article 88 of the Company Law, when a shareholder of a limited liability company transfers the subscribed equity that has not yet reached the deadline for capital contribution, the transferee shall firstly assume the obligation to make capital contribution.
The organization structure of a limited liability company (LLC) includes shareholders’ meeting, board of directors, board of supervisors and manger. The new Company Law of the PRC which came into force on 1 July 2024 has made significant adjustments to the organization structure of LLC.
After the Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and of the Hong Kong Special Administrative Region (HKSAR) came into force on 29 January 2024, effective civil and commercial judgments given by the Mainland and Hong Kong courts on or after 29 January 2024 may apply for reciprocal recognition and enforcement in accordance with the foregoing arrangement.
Recently, the Company Law of the PRC has been revised and adopted at the 7th Session of the Standing Committee of the Fourteenth National People's Congress of the PRC. The revised Company Law of the PRC will come into force on 1 July 2024. The key points of the revision include:
First, investors need to lease café operating premises before starting the registration process. According to experience, the site selection should avoid the residential building area, and choose a place with water supply, power supply, ventilation, and smoke exhaust as sufficient as possible. In order to avoid being rejected when applying for business license or other special license
On 4 August 2023, the Ministry of Industry and Information Technology of the PRC released a circular on the implementation of APP filings on its official website, which clarified that APP providers engaged in internet information services within the territory of the PRC shall complete the internet content provider (ICP) filing procedures in accordance with the relevant laws and regulations of the PRC.
With the continuous optimization of the business environment in Beijing, it is more and more convenient for market entities to enter the market. Among them, the continuous promotion of the reform work of "Joint Handling of Certificates and Licenses" is indispensable.
As a special economic zone in China, Shenzhen has the legislative power over the Shenzhen Special Economic Zone. Therefore, there are some differences between the rules formulated and applied in Shenzhen and those applied nationwide in terms of legal provisions on non-compete. The main differences are as follows:
Recently, the State Council of the PRC released a decree to announce the decision to revise 14 and abolish 6 sets of regulations. The Administration of Foreign Invested Telecommunications Enterprises has been revised accordingly, which will take effect on 1 May 2022. The key changes of the new Administration of Foreign Invested Telecommunications Enterprises are as follows