On December 29, 2023, the Standing Committee of the National People's Congress (NPCSC) approved the amendments to the PRC Company Law (New Company Law), which will come into effect on July 1, 2024, with a universal ...
New China Company Law amendments seek to improve the country’s business environment by optimizing corporate governance norms. The draft amendments include changes to the rights of company shareholders, responsibilities of shareholders and directors, deregistration procedures, and more. We look at how the...
the Standing Committee of the National People's Congress of the People's Republic of China promulgated the amended Company Law of the People's Republic of China ("PRC" or "China") (the "2023 Company Law"), after its deliberation of four versions of draft amendments in the past three year...
On December 29, 2023, China’s lawmakers enacted numerous amendments to the PRC Company Law (the “2023 Amendments”). While some of these amendments reinforce current rules and practices, others are poised to significantly inf...
Major Amendments Capital Contribution System: The new law emphasizes the capital contribution system by stipulating that the registered capital must be fully contributed within five years from the date of the company's establishment. This is a significant shift from the previous system that allowed a...
It also replaces all the previous laws, which differentiated between companies with100% owned LLC company or subsidiary(ex-WFOE) and those with mixed capital (sino-foreign joint venture). As a quick guide, the key amendments currently include: ...
On 29 December 2023, the People’s Republic of China (PRC) national legislature adopted proposed amendments to PRC Company Law. The amended Company Law (2023 Company Law) will enter into force on 1 July 2024 and makes substantial changes to the corporate law, governance and practices in C...
This comprehensive overhaul represents a significant milestone in China's corporate governance landscape, introducing numerous amendments aimed at enhancing corporate efficiency, protecting stakeholder rights, and fostering a more transparent and responsible business environment. ...
February 6, 2025Atul MittalCompany Law (MCA) News and Articles 17 Minutes Read Here we have informed and notified readers with all the latest updates in the company law of MCA. Find notifications, amendments, updates, relevant sections, etc with complete accuracy. Be updated and incorporate all...
Amendments to the articles of association or resolutions of the shareholders' meeting in accordance with the preceding paragraph shall be passed by shareholders holding more than two-thirds of the voting rights in the case of a limited liability company, or by shareholders attending the shareholders'...