On December 29, 2023, the Standing Committee of the National People's Congress approved the revised "Company Law of the People's Republic of China" (theNew Company Law), set to be enforced on July 1, 2024. The New Compa...
SAMR Seeks Comments on the Implementation of the Registered Capital Registration System under the Company Law 近日,国家市场监督管理总局起草了《国务院关于实施〈中华人民共和国公司法〉注册资本登记管理制度的规定(征求意见稿)》(下称《...
The current Company Law of China ("Current Company Law") was initially enacted in 1993, had been revised five times before. This revision marks the sixth time, has brought major changes to China's company law regime, and the articles have also increased from the current 218 articles in 13 ...
Overview on the major changes of the new company law of PRC The new revision of the Company Law of the People's Republic of China was passed on December 29, 2023, by the 7th session of the 14th Standing Committee of the National People's Congress and is set to come into effect on Ju...
On 29 December 2023, the PRC amended its Company Law, effective from 1 July 2024 It introduces key changes that could expose shareholders to greater risk, afford greater protection to lenders and have procedural impact on corporate actions
On 29 December 2023, China enacted its substantially revised Company Law. It now contains 266 articles with sweeping changes in many areas and will take effect on 1 July 2024. Another important deadline is 31 December 2024, by which time older foreign-invested enterprises must adjust their organ...
One of the major changes in the New Company Law is the provision to allow LLCs to establish an “audit committee” within the board of directors, in which case it would not need to establish a board of supervisors (or appoint any supervisors). The audit committee can be “composed...
(the "Company Law") was promulgated on 29 December 2023 and was implemented on 1 July 2024. The changes are so numerous that many lawyers and legal practitioners say the law as if were re-enacted. The new amendments will have a far-reaching impact on future legislation, law enforcement, ...
Article 40 of the 2023 Company Law refers to an obligation to “make public the following matters via the National Enterprise Credit Information Publicity System as required”. It is worth noting that the status of and changes to capital contributions (amount, type, and date), which used to ...
China’s New Draft VAT Law – How is it Different from Previous Tax Regulations? However, it is worth noting that the Company Law has been under revision for many years already, and the relevant government departments are still soliciting opinions from the public on the latest changes. Yet an...