Q:
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Are there any restrictions on the shareholders for the purpose of registration of a joint stock limited company in China?
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A:
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According to the Company Law of the PRC, to establish a joint stock limited company, there shall not be less than 2 but not more than 200 promoters, of whom half or more shall have a domicile within the territory of China.
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Q:
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How to establish a joint stock limited company in China?
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A:
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According to the Company Law of the PRC, a joint stock limited company may be established by the way of promotion or stock floatation. The establishment of a company by promotion means that the promoters establish a company by subscribing to all of the shares that should be issued by the company. The establishment of a company by stock floatation means that the promoters establish a company by subscribing to some of the shares that should be issued by the company and offering the remaining shares to the general public or to a group of specified people for subscription.
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Q:
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Are there any restrictions on the share proportion of the promoters?
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A:
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For a joint stock limited company established by stock flotation, the shares subscribed by the promoters shall not be less than 35 % of the total shares. However, if it is otherwise provided for by any law or administrative regulation, such law or administrative regulation shall prevail.
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Q:
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Is there a limit on the number of board members of a joint stock limited company in China?
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A:
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According to the Company Law of the PRC, the board of directors of a joint stock limited company shall be composed of 5-19 persons.
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Q:
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Is it compulsory to set a board of supervisor in a joint stock limited company in China?
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A:
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According to the Company Law of the PRC, a joint stock limited company shall set up a board of supervisors, which shall be composed of at least 3 persons.
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