| Order of the President of the People's Republic of China | | 中华人民共和国主席令 |
| (No.15) | | （第十五号） |
| The Company Law of the People's Republic of China, as revised and adopted at the 7th Session of the Standing Committee of the Fourteenth National People's Congress of the People's Republic of China on December 29, 2023, is hereby issued, with effect from July 1, 2024. | | 《中华人民共和国公司法》已由中华人民共和国第十四届全国人民代表大会常务委员会第七次会议于2023年12月29日修订通过，现予公布，自2024年7月1日起施行。 |
| Xi Jinping, President of the People's Republic of China | | 中华人民共和国主席 习近平 |
| December 29, 2023 | | 2023年12月29日 |
| Company Law of the People's Republic of China | | 中华人民共和国公司法 |
| (Adopted at the Fifth Session of the Standing Committee of the Eighth National People's Congress on December 29, 1993; amended for the first time in accordance with the Decision on Amending the Company Law of the People's Republic of China adopted at the 13th Session of the Standing Committee of the Ninth National People's Congress on December 25, 1999; amended for the second time in accordance with the Decision on Amending the Company Law of the People's Republic of China adopted at the 11th Session of the Standing Committee of the Tenth National People's Congress on August 28, 2004; revised for the first time at 18th Session of the Standing Committee of the Tenth National People's Congress on October 27, 2005; and amended for the third time in accordance with the Decision on Amending Seven Laws Including the Marine Environment Protection Law of the People's Republic of China adopted at the Sixth Session of the Standing Committee of the 12th National People's Congress on December 28, 2013; amended for the fourth time in accordance with the Decision of the Standing Committee of the National People's Congress on Amending the Company Law of the People's Republic of China (2018) adopted at the Sixth Session of the Standing Committee of the 13th National People's Congress on October 26, 2018; revised for the second time at the 7th Session of the Standing Committee of the Fourteenth National People's Congress on December 29, 2023) | | （1993年12月29日第八届全国人民代表大会常务委员会第五次会议通过 根据1999年12月25日第九届全国人民代表大会常务委员会第十三次会议《关于修改〈中华人民共和国公司法〉的决定》第一次修正 根据2004年8月28日第十届全国人民代表大会常务委员会第十一次会议《关于修改〈中华人民共和国公司法〉的决定》第二次修正 2005年10月27日第十届全国人民代表大会常务委员会第十八次会议第一次修订 根据2013年12月28日第十二届全国人民代表大会常务委员会第六次会议《关于修改〈中华人民共和国海洋环境保护法〉等七部法律的决定》第三次修正 根据2018年10月26日第十三届全国人民代表大会常务委员会第六次会议《关于修改〈中华人民共和国公司法〉的决定》第四次修正 2023年12月29日第十四届全国人民代表大会常务委员会第七次会议第二次修订） |
| Contents | | 目 录 |
| Chapter I General Provisions | | 第一章 总 则 |
| Chapter II Company Registration | | 第二章 公司登记 |
| Chapter III Formation and Organizational Structure of a Limited Liability Company | | 第三章 有限责任公司的设立和组织机构 |
| Section 1 Formation | | 第一节 设 立 |
| Section 2 Organizational Structure | | 第二节 组织机构 |
| Chapter IV Transfer of Equities of a Limited Liability Company | | 第四章 有限责任公司的股权转让 |
| Chapter V Formation and Organizational Structure of a Joint Stock Limited Company | | 第五章 股份有限公司的设立和组织机构 |
| Section 1 Formation | | 第一节 设 立 |
| Section 2 Shareholders' Meeting | | 第二节 股 东 会 |
| Section 3 Board of Directors and Managers | | 第三节 董事会、经理 |
| Section 4 Board of Supervisors | | 第四节 监 事 会 |
| Section 5 Special Provisions on the Organizational Structure of a Listed Company | | 第五节 上市公司组织机构的特别规定 |
| Chapter VI Issuance and Transfer of Shares of a Joint Stock Limited Company | | 第六章 股份有限公司的股份发行和转让 |
| Section 1 Issuance of Shares | | 第一节 股份发行 |
| Section 2 Transfer of Shares | | 第二节 股份转让 |
| Chapter VII Special Provisions on the Organizational Structure of State-funded Companies | | 第七章 国家出资公司组织机构的特别规定 |
| Chapter VIII Qualifications and Obligations of the Directors, Supervisors and Senior Executives of a Company | | 第八章 公司董事、监事、高级管理人员的资格和义务 |
| Chapter IX Corporate Bonds | | 第九章 公司债券 |
| Chapter X Financial Affairs and Accounting of a Company | | 第十章 公司财务、会计 |
| Chapter XI Merger, Split-up, and Increase or Decrease of Registered Capital of a Company | | 第十一章 公司合并、分立、增资、减资 |
| Chapter XII Dissolution and Liquidation of a Company | | 第十二章 公司解散和清算 |
| Chapter XIII Branches of Foreign Companies | | 第十三章 外国公司的分支机构 |
| Chapter XIV Legal Liabilities | | 第十四章 法律责任 |
| Chapter XV Supplemental Provisions | | 第十五章 附 则 |
| Chapter I General Provisions | | 第一章 总 则 |
| Article 1 This Law is enacted in accordance with the Constitution for the purposes of regulating the organization and operation of companies, protecting the lawful rights and interests of companies, shareholders, employees, and creditors, improving the modern enterprise system with Chinese characteristics, promoting the entrepreneurial spirit, maintaining the socialist economic order, and promoting the development of the socialist market economy | | 第一条 为了规范公司的组织和行为，保护公司、股东、职工和债权人的合法权益，完善中国特色现代企业制度，弘扬企业家精神，维护社会经济秩序，促进社会主义市场经济的发展，根据宪法，制定本法。 |
| Article 2 The term "company" as mentioned in this Law refers to a limited liability company or a joint stock company formed in the territory of the People's Republic of China in accordance with this Law. | | 第二条 本法所称公司，是指依照本法在中华人民共和国境内设立的有限责任公司和股份有限公司。 |
| Article 3 A company is an enterprise legal person, which has independent legal person property and enjoys the right to legal person property. It shall bear the liabilities for its debts with all its property. | | 第三条 公司是企业法人，有独立的法人财产，享有法人财产权。公司以其全部财产对公司的债务承担责任。 |
| The legitimate rights and interests of a company shall be protected by laws and may not be trespassed. | | 公司的合法权益受法律保护，不受侵犯。 |
| Article 4 For a limited liability company, a shareholder shall be liable for the company to the extent of the capital contributions it has paid. For a joint stock limited company, a shareholder shall be liable for the company to the extent of the shares it has subscribed to. | | 第四条 有限责任公司的股东以其认缴的出资额为限对公司承担责任；股份有限公司的股东以其认购的股份为限对公司承担责任。 |
| The shareholders of a company shall be entitled to enjoy the capital proceeds, participate in making important decisions, choose managers and other rights in the company. | | 公司股东对公司依法享有资产收益、参与重大决策和选择管理者等权利。 |
| Article 5 A company formed in accordance with this Law shall formulate its bylaws, binding on the company and its shareholders, directors, supervisors, and senior executives. | | 第五条 设立公司应当依法制定公司章程。公司章程对公司、股东、董事、监事、高级管理人员具有约束力。 |
| Article 6 A company shall have a name. The name of the company shall comply with relevant provisions issued by the state. | | 第六条 公司应当有自己的名称。公司名称应当符合国家有关规定。 |
| The right of name of the company shall be protected by law. | | 公司的名称权受法律保护。 |
| Article 7 A limited liability company formed in accordance with this Law shall include the words of "limited liability company" or "limited company" in its name. | | 第七条 依照本法设立的有限责任公司，应当在公司名称中标明有限责任公司或者有限公司字样。 |
| A joint stock limited company formed in accordance with this Law shall include words of "joint stock limited company" or "joint stock company." | | 依照本法设立的股份有限公司，应当在公司名称中标明股份有限公司或者股份公司字样。 |
| Article 8 A company shall regard its main office as its domicile. | | 第八条 公司以其主要办事机构所在地为住所。 |
| Article 9 A company's business scope shall be defined in its bylaw. The company may modify its business scope by modifying its bylaws. | | 第九条 公司的经营范围由公司章程规定。公司可以修改公司章程，变更经营范围。 |
| If the law or administrative regulations so require, any matter in the business scope of the company shall be approved according to the law. | | 公司的经营范围中属于法律、行政法规规定须经批准的项目，应当依法经过批准。 |
| Article 10 The legal representative of a company shall be the director or manager who represents the company in attending to company affairs in accordance with the company's bylaw. | | 第十条 公司的法定代表人按照公司章程的规定，由代表公司执行公司事务的董事或者经理担任。 |
| If a director serving as the legal representative or manager resigns, he shall be deemed to have resigned as the legal representative concurrently. | | 担任法定代表人的董事或者经理辞任的，视为同时辞去法定代表人。 |
| If the legal representative resigns, the company shall determine a new legal representative within 30 days of resignation of the legal representative. | | 法定代表人辞任的，公司应当在法定代表人辞任之日起三十日内确定新的法定代表人。 |
| Article 11 The legal consequences of civil activities performed by a legal representative in the name of the company shall be borne by the company. | | 第十一条 法定代表人以公司名义从事的民事活动，其法律后果由公司承受。 |
| Any restriction on the power of the legal representative imposed by the company's bylaw or shareholders' meeting shall not be set up against bona fide opposite parties. | | 公司章程或者股东会对法定代表人职权的限制，不得对抗善意相对人。 |
| Where the legal representative causes damage to any other person in the performance of duties, the company shall assume civil liability for such damage. The company may, after assuming such civil liability, claim reimbursement from the legal representative at fault in accordance with the law or its bylaws. | | 法定代表人因执行职务造成他人损害的，由公司承担民事责任。公司承担民事责任后，依照法律或者公司章程的规定，可以向有过错的法定代表人追偿。 |
| Article 12 A limited liability company to be changed into a joint stock limited company shall satisfy the requirements as prescribed in this Law for joint stock limited companies. A joint stock limited company to be changed into a limited liability company shall conform to the conditions as prescribed in this Law for limited liability companies. | | 第十二条 有限责任公司变更为股份有限公司，应当符合本法规定的股份有限公司的条件。股份有限公司变更为有限责任公司，应当符合本法规定的有限责任公司的条件。 |
| In either of the aforesaid cases, the creditor's rights and debts of the company prior to the change shall be succeeded by the company after the change. | | 有限责任公司变更为股份有限公司的，或者股份有限公司变更为有限责任公司的，公司变更前的债权、债务由变更后的公司承继。 |
| Article 13 A company may set up subsidiaries which enjoy the status of an enterprise legal person and shall be independently responsible for their own civil liabilities. | | 第十三条 公司可以设立子公司。子公司具有法人资格，依法独立承担民事责任。 |
| A company may set up branches. A branch shall not enjoy the status of an enterprise legal person and its civil liabilities shall be borne by its parent company. | | 公司可以设立分公司。分公司不具有法人资格，其民事责任由公司承担。 |
| Article 14 A company may invest in other enterprises, | | 第十四条 公司可以向其他企业投资。 |
| subject to the law under which it shall not become a capital contributor severally and jointly liable for the debts of the enterprises in which it invests. | | 法律规定公司不得成为对所投资企业的债务承担连带责任的出资人的，从其规定。 |
| Article 15 Where a company intends to invest in any other enterprise or provide guaranty for others, the company shall make a resolution through the board of directors, shareholders' meeting according to its bylaw. If the bylaw prescribes any limit on the total amount of investments or guaranties, or on the amount of a single investment or guaranty, the aforesaid total amount or amount shall not exceed the limited amount. | | 第十五条 公司向其他企业投资或者为他人提供担保，按照公司章程的规定，由董事会或者股东会决议；公司章程对投资或者担保的总额及单项投资或者担保的数额有限额规定的，不得超过规定的限额。 |
| If a company intends to provide guaranty to a shareholder or actual controller of the company, it shall make a resolution through the shareholder's meeting. | | 公司为公司股东或者实际控制人提供担保的，应当经股东会决议。 |
| The shareholder as mentioned in the preceding paragraph or the shareholder dominated by the actual controller as mentioned in the preceding paragraph shall not participate in voting on the matter as mentioned in the preceding paragraph. Such matter requires the affirmative votes of more than half of the other shareholders attending the meeting. | | 前款规定的股东或者受前款规定的实际控制人支配的股东，不得参加前款规定事项的表决。该项表决由出席会议的其他股东所持表决权的过半数通过。 |
| Article 16 Every company shall protect the lawful rights and interests of its employees, sign employment contracts with its employees, buy social insurances, and strengthen labor protection so as to ensure work safety. | | 第十六条 公司应当保护职工的合法权益，依法与职工签订劳动合同，参加社会保险，加强劳动保护，实现安全生产。 |
| Every company shall, in various forms, intensify the professional education and in-service training of its employees so as to improve their personal quality. | | 公司应当采用多种形式，加强公司职工的职业教育和岗位培训，提高职工素质。 |
| Article 17 The employees of a company shall, according to the Labor Union Law of the People's Republic of China, organize a labor union, which shall carry out union activities and safeguard the lawful rights and interests of the employees. The company shall provide necessary conditions for its labor union to carry out activities. The labor union shall, on behalf of the employees, sign collective contracts with the company with respect to the remuneration, working hours, rest and leave, work safety and sanitation, insurance and welfare, and other matters. | | 第十七条 公司职工依照《中华人民共和国工会法》组织工会，开展工会活动，维护职工合法权益。公司应当为本公司工会提供必要的活动条件。公司工会代表职工就职工的劳动报酬、工作时间、休息休假、劳动安全卫生和保险福利等事项依法与公司签订集体合同。 |
| In accordance with the Constitution and other relevant laws, a company shall establish and improve a democratic management system in the form of assembly of the representatives of the employees, and adopt democratic management in such form or any other ways. | | 公司依照宪法和有关法律的规定，建立健全以职工代表大会为基本形式的民主管理制度，通过职工代表大会或者其他形式，实行民主管理。 |
| To make a decision on restructuring, dissolution, application for bankruptcy, or any important issue relating to business operations, or to formulate any important bylaw, a company shall solicit the opinions of its labor union, and shall solicit the opinions and proposals of the employees through the assembly of the representatives of the employees or in any other way. | | 公司研究决定改制、解散、申请破产以及经营方面的重大问题、制定重要的规章制度时，应当听取公司工会的意见，并通过职工代表大会或者其他形式听取职工的意见和建议。 |
| Article 18 The Chinese Communist Party may, according to the Constitution of the Chinese Communist Party, establish its branches in companies to carry out activities of the Chinese Communist Party. The company shall provide necessary conditions to facilitate the activities of the Party. | | 第十八条 在公司中，根据中国共产党章程的规定，设立中国共产党的组织，开展党的活动。公司应当为党组织的活动提供必要条件。 |
| Article 19 When conducting business operations, a company shall comply with the laws, regulations, social morality, and business morality, act in good faith, and accept the supervision of the government and general public. | | 第十九条 公司从事经营活动，应当遵守法律法规，遵守社会公德、商业道德，诚实守信，接受政府和社会公众的监督。 |
| Article 20 When conducting business operations, a company shall fully consider the interests of the company's employees, consumers, and other stakeholders and ecological and environmental protection and other public interests, and assume social responsibility. | | 第二十条 公司从事经营活动，应当充分考虑公司职工、消费者等利益相关者的利益以及生态环境保护等社会公共利益，承担社会责任。 |
| The state shall encourage companies to participate in public welfare activities and publish social responsibility reports. | | 国家鼓励公司参与社会公益活动，公布社会责任报告。 |
| Article 21 A shareholder of a company shall abide by the laws, administrative regulations, and the company's bylaw and exercise shareholder's rights under the law, and may not injure the interests of the company or of other shareholders by abusing the shareholder's rights. | | 第二十一条 公司股东应当遵守法律、行政法规和公司章程，依法行使股东权利，不得滥用股东权利损害公司或者其他股东的利益。 |
| A shareholder of the company shall be liable for any loss caused to the interests of the company or other shareholders by abusing shareholder's rights. | | 公司股东滥用股东权利给公司或者其他股东造成损失的，应当承担赔偿责任。 |
| Article 22 Neither the controlling shareholder, nor the actual controller, nor any of the directors, supervisors or senior management of the company may injure the interests of the company by taking advantage of its connection relationship. | | 第二十二条 公司的控股股东、实际控制人、董事、监事、高级管理人员不得利用关联关系损害公司利益。 |
| Anyone who causes any loss to the company due to violating the preceding paragraph shall be liable for the compensation. | | 违反前款规定，给公司造成损失的，应当承担赔偿责任。 |
| Article 23 Where a shareholder of a company evades the payment of its debts by abusing the independent status of legal person or the shareholder's limited liabilities, if it seriously injures the interests of any creditor, it shall bear several and joint liabilities for the debts of the company. | | 第二十三条 公司股东滥用公司法人独立地位和股东有限责任，逃避债务，严重损害公司债权人利益的，应当对公司债务承担连带责任。 |
| If the shareholder uses two or more companies under its control to commit the act prescribed in the preceding paragraph, each company shall be jointly and severally liable for the debts of any of the other companies. | | 股东利用其控制的两个以上公司实施前款规定行为的，各公司应当对任一公司的债务承担连带责任。 |
| If the shareholder of a company with only one shareholder is unable to prove that the property of the company is independent from his own property, he shall bear joint liabilities for the debts of the company. | | 只有一个股东的公司，股东不能证明公司财产独立于股东自己的财产的，应当对公司债务承担连带责任。 |
| Article 24 A shareholders' meeting or meeting of the board of directors or board of supervisors of a company, or a vote at such meeting, may be held by electronic communication, unless otherwise stipulated in the company's bylaw. | | 第二十四条 公司股东会、董事会、监事会召开会议和表决可以采用电子通信方式，公司章程另有规定的除外。 |
| Article 25 A resolution of the shareholders' meeting or board of directors of the company that is in violation of any law or administrative regulation shall be null and void. | | 第二十五条 公司股东会、董事会的决议内容违反法律、行政法规的无效。 |
| Article 26 If the procedures for calling a shareholders' meeting or meeting of the board of directors, or the voting form, is in violation of any law, administrative regulation or the bylaw, or if a resolution is in violation of the bylaw of the company, the shareholders may, within 60 days from the day when the resolution is made, request the people's court to revoke it, unless the procedures or the voting form contains a minor defect without a substantial impact on the resolution. | | 第二十六条 公司股东会、董事会的会议召集程序、表决方式违反法律、行政法规或者公司章程，或者决议内容违反公司章程的，股东自决议作出之日起六十日内，可以请求人民法院撤销。但是，股东会、董事会的会议召集程序或者表决方式仅有轻微瑕疵，对决议未产生实质影响的除外。 |
| If a shareholder has not been given notice of participation in the shareholders' meeting, the shareholder may request the people's court to revoke the resolution within 60 days from the date when the shareholder knows or should know that the resolution has been made; if the shareholder fails to exercise the right of revocation within one year from the date the resolution is made, the right of revocation shall be extinguished. | | 未被通知参加股东会会议的股东自知道或者应当知道股东会决议作出之日起六十日内，可以请求人民法院撤销；自决议作出之日起一年内没有行使撤销权的，撤销权消灭。 |
| Article 27 Under any of the following circumstances, a resolution of the shareholders' meeting or the board of directors of a company shall be untenable: | | 第二十七条 有下列情形之一的，公司股东会、董事会的决议不成立： |
| (1) The resolution is adopted without holding a shareholders' meeting or a meeting of the board meeting. | | （一）未召开股东会、董事会会议作出决议； |
| (2) A matter to be decided fails to be put to a vote at a shareholders' meeting and a meeting of the board of directors. | | （二）股东会、董事会会议未对决议事项进行表决； |
| (3) The number of attendees at a meeting, or the number of voting rights held, is less than the quorum or the number of voting rights held as specified by this Law or the company's bylaw. | | （三）出席会议的人数或者所持表决权数未达到本法或者公司章程规定的人数或者所持表决权数； |
| (4) The number of attendees at a meeting, or the number of voting rights held, is less than that specified by this Law or the company's bylaw. | | （四）同意决议事项的人数或者所持表决权数未达到本法或者公司章程规定的人数或者所持表决权数。 |
| Article 28 If a people's court declares invalid, revokes, or confirms the untenability of a resolution of the shareholders' meeting or board of directors of a company, the company shall apply to the company registration authority for revocation of the registration which has been made based on the resolution. | | 第二十八条 公司股东会、董事会决议被人民法院宣告无效、撤销或者确认不成立的，公司应当向公司登记机关申请撤销根据该决议已办理的登记。 |
| If a people's court declares invalid, revokes, or confirms the untenability of a resolution of a shareholders' meeting or board of directors, a civil legal relation established between the company and a bona fide opposite party based on the resolution shall not be affected. | | 股东会、董事会决议被人民法院宣告无效、撤销或者确认不成立的，公司根据该决议与善意相对人形成的民事法律关系不受影响。 |
| Chapter II Company Registration | | 第二章 公司登记 |
| Article 29 To form a company, an application for formation registration shall be filed with the company registration authority. | | 第二十九条 设立公司，应当依法向公司登记机关申请设立登记。 |
| If any law or administrative regulation provides that the formation of a company shall be subject to approval, and relevant approval formalities shall be gone through prior to the registration of the company. | | 法律、行政法规规定设立公司必须报经批准的，应当在公司登记前依法办理批准手续。 |
| Article 30 To apply for the formation of a company, an application for formation registration, the company's bylaw, and other documents shall be submitted, and the relevant materials submitted shall be authentic, lawful, and valid. | | 第三十条 申请设立公司，应当提交设立登记申请书、公司章程等文件，提交的相关材料应当真实、合法和有效。 |
| If the application materials are incomplete or are not in the statutory form, the company registration authority shall give notification of required supplements and corrections at one time. | | 申请材料不齐全或者不符合法定形式的，公司登记机关应当一次性告知需要补正的材料。 |
| Article 31 If an application for formation of a company meets the formation requirements of this Law, the company registration authority shall register the company as a limited liability company or joint stock limited company. If the application does not meet the formation requirements of this Law, it shall not be registered as a limited liability company or joint stock limited company. | | 第三十一条 申请设立公司，符合本法规定的设立条件的，由公司登记机关分别登记为有限责任公司或者股份有限公司；不符合本法规定的设立条件的，不得登记为有限责任公司或者股份有限公司。 |
| Article 32 Company registration matters shall include: | | 第三十二条 公司登记事项包括： |
| (1) name; | | （一）名称； |
| (2) domicile; | | （二）住所； |
| (3) registered capital; | | （三）注册资本； |
| (4) business scope; | | （四）经营范围； |
| (5) the name of the legal representative; and | | （五）法定代表人的姓名； |
| (6) the names of shareholders, in the case of a limited liability company, or the names of promoters, in the case of a joint stock limited company. | | （六）有限责任公司股东、股份有限公司发起人的姓名或者名称。 |
| The company registration authority shall publish company registration matters as specified in the preceding paragraph on the National Enterprise Credit Information Publicity System. | | 公司登记机关应当将前款规定的公司登记事项通过国家企业信用信息公示系统向社会公示。 |
| Article 33 For a lawfully formed company, the company registration authority shall issue a company business license to the company. The date of issuance of the company business license shall be the date of formation of the company. | | 第三十三条 依法设立的公司，由公司登记机关发给公司营业执照。公司营业执照签发日期为公司成立日期。 |
| The company business license shall state the name, domicile, registered capital, business scope, legal representative, etc. | | 公司营业执照应当载明公司的名称、住所、注册资本、经营范围、法定代表人姓名等事项。 |
| The company registration authority may issue an electronic business license. The electronic business license shall have the same legal effect as a paper one. | | 公司登记机关可以发给电子营业执照。电子营业执照与纸质营业执照具有同等法律效力。 |
| Article 34 If a company registration matter is modified, the modification shall be registered in accordance with the law. | | 第三十四条 公司登记事项发生变更的，应当依法办理变更登记。 |
| A company registration matter without being registered or without its modification being registered shall not be set up against bona fide opposite parties. | | 公司登记事项未经登记或者未经变更登记，不得对抗善意相对人。 |
| Article 35 When a company applies for registration of modification, it shall submit to the company registration authority an application for registration of modification signed by the company's legal representative, a modification resolution or decision made in accordance with the law, and other documents. | | 第三十五条 公司申请变更登记，应当向公司登记机关提交公司法定代表人签署的变更登记申请书、依法作出的变更决议或者决定等文件。 |
| If the modification of the company registration matter involves the amendment of the company's bylaws, the company's bylaws as amended shall be submitted. | | 公司变更登记事项涉及修改公司章程的，应当提交修改后的公司章程。 |
| If the company modifies its legal representative, the application for registration of modification shall be signed by the replacement legal representative. | | 公司变更法定代表人的，变更登记申请书由变更后的法定代表人签署。 |
| Article 36 If any matter as stated in the business license is modified, the company registration authority shall issue a replacement business license, after the company registers the modification. | | 第三十六条 公司营业执照记载的事项发生变更的，公司办理变更登记后，由公司登记机关换发营业执照。 |
| Article 37 If dissolution, declaration of bankruptcy, or any other statutory cause entails termination of a company, the company shall apply to the company registration authority for deregistration according to the law, and the company registration authority shall announce the termination of the company. | | 第三十七条 公司因解散、被宣告破产或者其他法定事由需要终止的，应当依法向公司登记机关申请注销登记，由公司登记机关公告公司终止。 |
| Article 38 To set up a branch, a company shall file a registration application with the company registration authority and shall obtain a business license. | | 第三十八条 公司设立分公司，应当向公司登记机关申请登记，领取营业执照。 |
| Article 39 Where company formation registration is obtained by misreporting registered capital, submitting false materials, or otherwise fraudulently concealing important facts, the company registration authority shall revoke the company formation registration according to laws and administrative regulations. | | 第三十九条 虚报注册资本、提交虚假材料或者采取其他欺诈手段隐瞒重要事实取得公司设立登记的，公司登记机关应当依照法律、行政法规的规定予以撤销。 |
| Article 40 A company shall publish the following matters on the National Enterprise Credit Information Publicity System according to the applicable provisions: | | 第四十条 公司应当按照规定通过国家企业信用信息公示系统公示下列事项： |
| (1) The amount of capital contribution subscribed for or paid by each shareholder, the method of capital contribution, and the date of capital contribution, in the case of a limited liability company, or the number of shares subscribed for by each promoter, in the case of a joint stock limited company. | | （一）有限责任公司股东认缴和实缴的出资额、出资方式和出资日期，股份有限公司发起人认购的股份数； |
| (2) Information on modifications in the equities or shares of the shareholders of the limited liability company or the promoters of the joint stock limited company. | | （二）有限责任公司股东、股份有限公司发起人的股权、股份变更信息； |
| (3) Information on the obtainment, modification, and cancellation of administrative permission. | | （三）行政许可取得、变更、注销等信息； |
| (4) Other information specified by laws and administrative regulations. | | （四）法律、行政法规规定的其他信息。 |
| The company shall ensure that the information published in the preceding paragraph is authentic, accurate, and complete. | | 公司应当确保前款公示信息真实、准确、完整。 |
| Article 41 The company registration authority shall optimize the process of company registration, improve the efficiency of company registration, strengthen informatization, promote easy methods such as online processing, and improve the facilitation of company registration. | | 第四十一条 公司登记机关应当优化公司登记办理流程，提高公司登记效率，加强信息化建设，推行网上办理等便捷方式，提升公司登记便利化水平。 |
| The market supervision and administration department of the State Council shall formulate specific measures for company registration in accordance with this Law and relevant laws and administrative regulations. | | 国务院市场监督管理部门根据本法和有关法律、行政法规的规定，制定公司登记注册的具体办法。 |
| Chapter III Formation and Organizational Structure of a Limited Liability Company | | 第三章 有限责任公司的设立和组织机构 |
| Section 1 Formation | | 第一节 设立 |
| Article 42 A limited liability company shall be formed by not less than one but not more than 50 shareholders that make capital contributions. | | 第四十二条 有限责任公司由一个以上五十个以下股东出资设立。 |
| Article 43 Shareholders at the time of formation of a limited liability company may sign a formation agreement, specifying their respective rights and obligations during the formation of the company. | | 第四十三条 有限责任公司设立时的股东可以签订设立协议，明确各自在公司设立过程中的权利和义务。 |
| Article 44 A limited liability company shall bear the consequences of the civil activities in which shareholders at the time of formation of the company engage for formation of the company. | | 第四十四条 有限责任公司设立时的股东为设立公司从事的民事活动，其法律后果由公司承受。 |
| If the company is not formed, the legal consequences shall be borne by the shareholders at the time of formation of the company; if there are two or more shareholders at the time of formation, they shall enjoy joint and several claims and bear joint and several debts. | | 公司未成立的，其法律后果由公司设立时的股东承受；设立时的股东为二人以上的，享有连带债权，承担连带债务。 |
| A third party shall, at its option, have the right to request the company or its shareholders at the time of formation to assume the civil liability arising from the civil activities in which the shareholders at the time of formation engage in their own name in order to form the company. | | 设立时的股东为设立公司以自己的名义从事民事活动产生的民事责任，第三人有权选择请求公司或者公司设立时的股东承担。 |
| If a shareholder at the time of formation causes damage to another person by performing the duty of formation of the company, the company or the shareholder not at fault may exercise recovery against the shareholder at fault after paying compensatory liability. | | 设立时的股东因履行公司设立职责造成他人损害的，公司或者无过错的股东承担赔偿责任后，可以向有过错的股东追偿。 |
| Article 45 To form a limited liability company, shareholders shall jointly formulate its bylaws. | | 第四十五条 设立有限责任公司，应当由股东共同制定公司章程。 |
| Article 46 A limited liability company shall state the following items: | | 第四十六条 有限责任公司章程应当载明下列事项： |
| (1) The name and domicile of the company; | | （一）公司名称和住所； |
| (2) The business scope of the company; | | （二）公司经营范围； |
| (3) The company's registered capital; | | （三）公司注册资本； |
| (4) Names of shareholders; | | （四）股东的姓名或者名称； |
| (5) Amount, method, and date of capital contributions made by shareholders; | | （五）股东的出资额、出资方式和出资日期； |
| (6) The organizations of the company and its formation, their functions and rules of procedure; | | （六）公司的机构及其产生办法、职权、议事规则； |
| (7) Methods for the selection and modification of the legal representative of the company; | | （七）公司法定代表人的产生、变更办法； |
| (8) Other matters deemed necessary by the shareholders' meeting. | | （八）股东会认为需要规定的其他事项。 |
| The shareholders should affix their signatures or seals to the bylaw of the company. | | 股东应当在公司章程上签名或者盖章。 |
| Article 47 The registered capital of a limited liability company shall be the amount of capital contributions subscribed for by all its shareholders as registered with the company registration authority. The capital contributions subscribed for by all shareholders shall be fully paid within five years of formation of the company in accordance with the company's bylaw. | | 第四十七条 有限责任公司的注册资本为在公司登记机关登记的全体股东认缴的出资额。全体股东认缴的出资额由股东按照公司章程的规定自公司成立之日起五年内缴足。 |
| Where any law or administrative regulation or any decision of the State Council provides otherwise for the paid-in registered capital, the minimum amount of registered capital of a limited liability company, or the period for shareholders to make capital contributions, such provisions shall prevail. | | 法律、行政法规以及国务院决定对有限责任公司注册资本实缴、注册资本最低限额、股东出资期限另有规定的，从其规定。 |
| Article 48 A shareholder may make capital contributions in cash, in kind, or intellectual property right, land use right, equities, claims, or other non-monetary properties that may be assessed on the basis of currency and may be transferred according to the law, excluding the properties that shall not be treated as capital contributions under any law or administrative regulation. | | 第四十八条 股东可以用货币出资，也可以用实物、知识产权、土地使用权、股权、债权等可以用货币估价并可以依法转让的非货币财产作价出资；但是，法律、行政法规规定不得作为出资的财产除外。 |
| The value of the non-monetary properties as capital contributions shall be assessed and verified, which shall not be over-valued or under-valued. If any law or administrative regulations provides for the value assessment, such law or administrative regulation shall be followed. | | 对作为出资的非货币财产应当评估作价，核实财产，不得高估或者低估作价。法律、行政法规对评估作价有规定的，从其规定。 |
| Article 49 Each shareholder shall make full payment for the capital contributions he has subscribed to according to the bylaw. | | 第四十九条 股东应当按期足额缴纳公司章程规定的各自所认缴的出资额。 |
| If a shareholder makes his capital contribution in cash, he shall deposit the full amount of such cash capital contribution into a temporary bank account opened for the limited liability company. If any capital contributions are made in non-monetary properties, the appropriate transfer procedures for the property rights therein shall be followed according to law. | | 股东以货币出资的，应当将货币出资足额存入有限责任公司在银行开设的账户；以非货币财产出资的，应当依法办理其财产权的转移手续。 |
| Where a shareholder fails to make his capital contribution in full within the specified period, he shall not only make his capital contribution in full to the company but also bear the liabilities for the losses caused to the company. | | 股东未按期足额缴纳出资的，除应当向公司足额缴纳外，还应当对给公司造成的损失承担赔偿责任。 |
| Article 50 Where, at the time of formation of a limited liability company, a shareholder fails to pay the capital contribution according to the company's bylaw, or the value of the non-monetary property as capital contribution is apparently lower than the capital contribution subscribed for, the other shareholders at the time of formation shall be jointly and severally liable to the extent of the shortfall in the shareholder's capital contribution. | | 第五十条 有限责任公司设立时，股东未按照公司章程规定实际缴纳出资，或者实际出资的非货币财产的实际价额显著低于所认缴的出资额的，设立时的其他股东与该股东在出资不足的范围内承担连带责任。 |
| Article 51 After formation of a limited liability company, its board of directors shall check the capital contributions of its shareholders, and the company shall issue a written demand for payment to a shareholder, demanding payment of capital contribution, if it discovers that the shareholder has not made full payment of capital contributions on schedule according to the company's bylaw. | | 第五十一条 有限责任公司成立后，董事会应当对股东的出资情况进行核查，发现股东未按期足额缴纳公司章程规定的出资的，应当由公司向该股东发出书面催缴书，催缴出资。 |
| If the board of directors fails to promptly perform its obligations specified in the preceding paragraph and causes losses to the company, any liable director shall be liable for compensation. | | 未及时履行前款规定的义务，给公司造成损失的，负有责任的董事应当承担赔偿责任。 |
| Article 52 When a shareholder fails to pay capital contribution as required by the company's bylaw, and the company issues a written demand for payment of capital contribution in accordance with paragraph 1 of the preceding article, it may specify a grace period for payment of capital contribution, which grace period shall not be less than 60 days from the date when the company issues the written demand. If a shareholder fails to perform the obligation of capital contribution after expiration of the grace period, the company may, under the resolution introduced by the board of directors, issue a notice of forfeiture to the shareholder in written form. The shareholder shall forfeit the equities with respect to which it has not paid the capital contribution, on the date of issuance of the notice of forfeiture. | | 第五十二条 股东未按照公司章程规定的出资日期缴纳出资，公司依照前条第一款规定发出书面催缴书催缴出资的，可以载明缴纳出资的宽限期；宽限期自公司发出催缴书之日起，不得少于六十日。宽限期届满，股东仍未履行出资义务的，公司经董事会决议可以向该股东发出失权通知，通知应当以书面形式发出。自通知发出之日起，该股东丧失其未缴纳出资的股权。 |
| The equities forfeited in accordance with the provisions of the preceding paragraph shall be transferred in accordance with the law, or the registered capital shall be reduced accordingly, with the equities canceled; if no transfer or cancellation is made within six months, the other shareholders of the company shall pay the corresponding capital contribution in full in proportion to their capital contributions. | | 依照前款规定丧失的股权应当依法转让，或者相应减少注册资本并注销该股权；六个月内未转让或者注销的，由公司其他股东按照其出资比例足额缴纳相应出资。 |
| If the shareholder challenges the forfeiture, it shall, within 30 days of receiving the notice of forfeiture, sue in the people's court. | | 股东对失权有异议的，应当自接到失权通知之日起三十日内，向人民法院提起诉讼。 |
| Article 53 After the formation of a company, no shareholder may illegally take away the registered capital. | | 第五十三条 公司成立后，股东不得抽逃出资。 |
| If the provisions of the preceding paragraph are violated, the shareholder shall return the registered capital illegally taken away; if losses are caused to the company, any liable director, supervisor, or officer shall be jointly and severally liable for compensation with the shareholder. | | 违反前款规定的，股东应当返还抽逃的出资；给公司造成损失的，负有责任的董事、监事、高级管理人员应当与该股东承担连带赔偿责任。 |
| Article 54 Where a company is unable to discharge debts when they become due, the company or creditors to whom the due debts are owed shall have the right to require shareholders who have subscribed for capital contributions to pay the capital contributions before expiration of the period of payment of capital contribution. | | 第五十四条 公司不能清偿到期债务的，公司或者已到期债权的债权人有权要求已认缴出资但未届出资期限的股东提前缴纳出资。 |
| Article 55 After the formation of a limited liability company, each shareholder shall be issued a capital contribution certificate, specifying the following: | | 第五十五条 有限责任公司成立后，应当向股东签发出资证明书，记载下列事项： |
| (1) the company's name; | | （一）公司名称； |
| (2) The date of formation of the company; | | （二）公司成立日期； |
| (3) The company's registered capital; | | （三）公司注册资本； |
| (4) The name of the shareholder, the subscribed and paid-in capital contribution, the method of capital contribution, and the date of capital contribution; | | （四）股东的姓名或者名称、认缴和实缴的出资额、出资方式和出资日期； |
| (5) The serial number and date of issuance of the capital contribution certificate. | | （五）出资证明书的编号和核发日期。 |
| The capital contribution certificate shall be signed by the legal representative and sealed by the company. | | 出资证明书由法定代表人签名，并由公司盖章。 |
| Article 56 A limited liability company shall prepare a registry of shareholders and the registry shall record the following information: | | 第五十六条 有限责任公司应当置备股东名册，记载下列事项： |
| (1) The name and domicile of each shareholder; | | （一）股东的姓名或者名称及住所； |
| (2) The subscribed and paid-in capital contribution, the method of capital contribution, and the date of capital contribution of each shareholder; | | （二）股东认缴和实缴的出资额、出资方式和出资日期； |
| (3) The serial numbers for all capital contribution certificates; | | （三）出资证明书编号； |
| (4) The date of obtaining and losing shareholder's qualifications. | | （四）取得和丧失股东资格的日期。 |
| The shareholders recorded in the registry of shareholders may, pursuant to the registry of shareholders, claim to and exercise the shareholder's rights. | | 记载于股东名册的股东，可以依股东名册主张行使股东权利。 |
| Article 57 Every shareholder shall be entitled to review and duplicate the company's bylaw, registry of shareholders, the minutes of the shareholders' meetings, the resolutions of the board of directors' meetings, the resolutions of the board of supervisors' meetings, as well as the financial reports. | | 第五十七条 股东有权查阅、复制公司章程、股东名册、股东会会议记录、董事会会议决议、监事会会议决议和财务会计报告。 |
| Every shareholder may request to review the accounting books and accounting vouchers of the company. Where a shareholder requests to review the accounting books and accounting vouchers of the company, it shall submit a written request, which shall state his motives. If the company, has the legitimate reason to believe that the shareholder's requests to review the accounting books and accounting vouchers has an improper motive and may impair the legitimate interests of the company, it may reject the request of the shareholder to review the books and shall, within in 15 days after the shareholder submits a written request, give the shareholder a written reply, which shall include an explanation. If the company rejects the request of any shareholder to review the accounting books, the shareholder may initiate action in the people's court. | | 股东可以要求查阅公司会计账簿、会计凭证。股东要求查阅公司会计账簿、会计凭证的，应当向公司提出书面请求，说明目的。公司有合理根据认为股东查阅会计账簿、会计凭证有不正当目的，可能损害公司合法利益的，可以拒绝提供查阅，并应当自股东提出书面请求之日起十五日内书面答复股东并说明理由。公司拒绝提供查阅的，股东可以向人民法院提起诉讼。 |
| The shareholder may retain an accounting firm, a law firm, or any other intermediary to review the materials specified in the preceding paragraph. | | 股东查阅前款规定的材料，可以委托会计师事务所、律师事务所等中介机构进行。 |
| The shareholder and the accounting firm, law firm, or other intermediary retained by it shall comply with the provisions of laws and administrative regulations on the protection of state secrets, trade secrets, personal privacy, and personal information, among others, when reviewing and duplicating the relevant materials. | | 股东及其委托的会计师事务所、律师事务所等中介机构查阅、复制有关材料，应当遵守有关保护国家秘密、商业秘密、个人隐私、个人信息等法律、行政法规的规定。 |
| If a shareholder requests for a review or reproduction of the relevant materials of the company's wholly-owned subsidiary, the provisions of the preceding four paragraphs shall apply. | | 股东要求查阅、复制公司全资子公司相关材料的，适用前四款的规定。 |
| Section 2 Organizational Structure | | 第二节 组织机构 |
| Article 58 The shareholders' meeting of a limited liability company shall be composed of all the shareholders. It is the company's organ of power, which shall exercise its powers in accordance with this Law. | | 第五十八条 有限责任公司股东会由全体股东组成。股东会是公司的权力机构，依照本法行使职权。 |
| Article 59 The shareholders' meeting shall exercise the following functions: | | 第五十九条 股东会行使下列职权： |
| (1) Electing and changing the directors and supervisors and deciding the matters relating to their salaries and compensations; | | （一）选举和更换董事、监事，决定有关董事、监事的报酬事项； |
| (2) Deliberating and approving reports of the board of directors; | | （二）审议批准董事会的报告； |
| (3) Deliberating and approving reports of the board of supervisors; | | （三）审议批准监事会的报告； |
| (4) Deliberating and approving company profit distribution plans and loss recovery plans; | | （四）审议批准公司的利润分配方案和弥补亏损方案； |
| (5) Making resolutions about the increase or reduction of the company's registered capital; | | （五）对公司增加或者减少注册资本作出决议； |
| (6) Making resolutions about the issuance of corporate bonds; | | （六）对发行公司债券作出决议； |
| (7) Adopting resolutions about the assignment, split-up, change of company form, dissolution, liquidation of the company; | | （七）对公司合并、分立、解散、清算或者变更公司形式作出决议； |
| (8) Revising the bylaw of the company; | | （八）修改公司章程； |
| (9) Other functions as specified in the bylaw. | | （九）公司章程规定的其他职权。 |
| The shareholders' meeting may authorize the board of directors to adopt resolutions on the issuance of corporate bonds. | | 股东会可以授权董事会对发行公司债券作出决议。 |
| If all the shareholders consent to any of the matters listed in the paragraph 1 of this article by writing, they do not need to hold a shareholders' meeting and may made decisions and have the decisions signed and sealed by all the shareholders. | | 对本条第一款所列事项股东以书面形式一致表示同意的，可以不召开股东会会议，直接作出决定，并由全体股东在决定文件上签名或者盖章。 |
| Article 60 A limited liability company with only one shareholder has no board of directors. When the shareholder makes a decision on any of the matters as listed in paragraph 1 of the preceding article, he shall make it in writing, sign or seal it, and keep it in the company. | | 第六十条 只有一个股东的有限责任公司不设股东会。股东作出前条第一款所列事项的决定时，应当采用书面形式，并由股东签名或者盖章后置备于公司。 |
| Article 61 The first shareholders' meeting shall be convened and presided over by the shareholder who made the largest capital contributions, and he shall exercise his powers in accordance with this Law. | | 第六十一条 首次股东会会议由出资最多的股东召集和主持，依照本法规定行使职权。 |
| Article 62 The shareholders' meetings shall be classified into regular meetings and interim meetings. | | 第六十二条 股东会会议分为定期会议和临时会议。 |
| Regular meetings shall be called according to the provisions of the articles of association of the company. Where an interim meeting is proposed by the shareholders representing 1/10 of the voting rights or more, or by directors representing 1/3 of the voting rights or more, or by the board of supervisors, an interim meeting shall be held. | | 定期会议应当按照公司章程的规定按时召开。代表十分之一以上表决权的股东、三分之一以上的董事或者监事会提议召开临时会议的，应当召开临时会议。 |
| Article 63 The shareholders' meetings shall be convened by the board of directors and presided over by the chairman of the board of directors. If the chairman is unable or fails to perform his duties, the meetings thereof shall be presided over by the deputy chairman of the board of directors. If the deputy chairman of the board of directors is unable or fails to perform his duties, the meetings shall be presided over by a director elected by a majority of the directors. | | 第六十三条 股东会会议由董事会召集，董事长主持；董事长不能履行职务或者不履行职务的，由副董事长主持；副董事长不能履行职务或者不履行职务的，由过半数的董事共同推举一名董事主持。 |
| If the board of directors is unable or fails to fulfill the duties of convening the shareholders' meeting, the board of supervisors may convene and preside over such meetings. If the board of supervisors does not convene or preside over such meetings, the shareholders representing 1 / 10 or more of the voting rights may convene and preside over such meetings on their own initiatives. | | 董事会不能履行或者不履行召集股东会会议职责的，由监事会召集和主持；监事会不召集和主持的，代表十分之一以上表决权的股东可以自行召集和主持。 |
| Article 64 Every shareholder shall be given a notice 15 days before a shareholders' meeting is held unless it is otherwise specified by the bylaw or it is otherwise stipulated by all the shareholders. | | 第六十四条 召开股东会会议，应当于会议召开十五日前通知全体股东；但是，公司章程另有规定或者全体股东另有约定的除外。 |
| A shareholders' meeting shall make the minutes for the decisions about the matters discussed at the meeting. The shareholders who attended the meeting shall affix their signatures or seals to the minutes. | | 股东会应当对所议事项的决定作成会议记录，出席会议的股东应当在会议记录上签名或者盖章。 |
| Article 65 The shareholders shall exercise their voting rights at the shareholders' meetings based on their respective percentage of the capital contributions unless it is otherwise prescribed by the bylaw. | | 第六十五条 股东会会议由股东按照出资比例行使表决权；但是，公司章程另有规定的除外。 |
| Article 66 Methods of discussion and voting procedures of the meeting of shareholders shall be provided for in the articles of association except otherwise provided for by this Law. | | 第六十六条 股东会的议事方式和表决程序，除本法有规定的外，由公司章程规定。 |
| Resolutions adopted at the shareholders' meeting shall be passed by shareholders representing a majority of the voting rights. | | 股东会作出决议，应当经代表过半数表决权的股东通过。 |
| A resolution made at a shareholders' meeting on revising the bylaw, increasing or reducing the registered capital, merger, split-up, dissolution or change of the company form shall be adopted by the shareholders representing two-thirds or more of the voting rights. | | 股东会作出修改公司章程、增加或者减少注册资本的决议，以及公司合并、分立、解散或者变更公司形式的决议，应当经代表三分之二以上表决权的股东通过。 |
| Article 67 A limited liability company shall establish a board of directors, subject to Article 75 of this Law. | | 第六十七条 有限责任公司设董事会，本法第七十五条另有规定的除外。 |
| The board of directors shall exercise the following functions: | | 董事会行使下列职权： |
| (1) Convening shareholders' meetings and presenting reports thereto; | | （一）召集股东会会议，并向股东会报告工作； |
| (2) Implementing the resolutions made at the shareholders' meetings; | | （二）执行股东会的决议； |
| (3) Determining the company's business and investment plans; | | （三）决定公司的经营计划和投资方案； |
| (4) Working out the company's profit distribution plans and loss recovery plans; | | （四）制订公司的利润分配方案和弥补亏损方案； |
| (5) Working out the company's plans on the increase or reduction of registered capital, as well as on the issuance of corporate bonds; | | （五）制订公司增加或者减少注册资本以及发行公司债券的方案； |
| (6) Working out the company's plans on merger, split, change of the company form, or dissolution, etc.; | | （六）制订公司合并、分立、解散或者变更公司形式的方案； |
| (7) Making decisions on the establishment of the company's internal management departments; | | （七）决定公司内部管理机构的设置； |
| (8) Making decisions on hiring or dismissing the company's manager and his salary and compensation, and, according to the nomination of the manager, deciding on the hiring or dismissal of vice manager(s) and the persons in charge of finance as well as their salaries and compensations; | | （八）决定聘任或者解聘公司经理及其报酬事项，并根据经理的提名决定聘任或者解聘公司副经理、财务负责人及其报酬事项； |
| (9) Working out the company's basic management system; and | | （九）制定公司的基本管理制度； |
| (10) Other functions as specified in the company's bylaw or conferred by the shareholders' meeting. | | （十）公司章程规定或者股东会授予的其他职权。 |
| Any restriction on the power of the board of directors imposed by the company's bylaws or shareholders' meeting shall not be set up against bona fide opposite parties. | | 公司章程对董事会职权的限制不得对抗善意相对人。 |
| Article 68 The board of directors of a limited liability company shall have three or more members, who may include a representative of the company's employees. The board of directors of a limited liability company which has 300 or more employees shall include representatives of the employees of the company, unless a board of supervisors has been established in accordance with the law and has representatives of the employees of the company. The representatives of the employees who serve as board directors shall be democratically elected through the assembly of the representatives of the employees, the assembly of employees, or other methods. | | 第六十八条 有限责任公司董事会成员为三人以上，其成员中可以有公司职工代表。职工人数三百人以上的有限责任公司，除依法设监事会并有公司职工代表的外，其董事会成员中应当有公司职工代表。董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。 |
| The board of directors shall have one chairman and may have deputy chairmen. The appointment of the chairman and deputy chairman shall be specified in the bylaw. | | 董事会设董事长一人，可以设副董事长。董事长、副董事长的产生办法由公司章程规定。 |
| Article 69 A limited liability company may establish an audit committee composed of directors of the board of directors in accordance with the company's bylaw which exercises the functions of the board of supervisors specified in this Law, and is not required to have a board of supervisors or supervisors. Employee representatives who are members of the company's board of directors may serve as members of the audit committee. | | 第六十九条 有限责任公司可以按照公司章程的规定在董事会中设置由董事组成的审计委员会，行使本法规定的监事会的职权，不设监事会或者监事。公司董事会成员中的职工代表可以成为审计委员会成员。 |
| Article 70 The term of office of the directors shall be provided for by the bylaw, but each term of office shall not exceed 3 years. The directors may, after the expiry of their term of office, hold a consecutive term upon re-election. | | 第七十条 董事任期由公司章程规定，但每届任期不得超过三年。董事任期届满，连选可以连任。 |
| If no reelection is timely carried out after the expiry of the term of office of the directors, or if the number of the members of the board of directors is less than the quorum due to the resignation of some directors from the board of directors prior to the expiry of their term of office, the original directors shall, before the newly elected directors assume their posts, perform the powers of the directors according to the laws, administrative regulations, as well as the bylaw. | | 董事任期届满未及时改选，或者董事在任期内辞任导致董事会成员低于法定人数的，在改选出的董事就任前，原董事仍应当依照法律、行政法规和公司章程的规定，履行董事职务。 |
| Where a director resigns, he shall notify the company in writing, and the resignation shall take effect on the day the company receives the notice, provided that if there is a circumstance specified in the preceding paragraph, the director shall continue to perform his powers. | | 董事辞任的，应当以书面形式通知公司，公司收到通知之日辞任生效，但存在前款规定情形的，董事应当继续履行职务。 |
| Article 71 The shareholders' meeting may resolve to remove a director, with effect on the date of resolution. | | 第七十一条 股东会可以决议解任董事，决议作出之日解任生效。 |
| If a director is removed before expiration of his term of office without good reason, the director may request compensation from the company. | | 无正当理由，在任期届满前解任董事的，该董事可以要求公司予以赔偿。 |
| Article 72 A meeting of the board of directors shall be convened and presided over by the chairman of the board of directors. If the chairman of the board of directors is unable or fails to perform his duties, it may be convened or presided over by the deputy chairman of the board of directors. If the deputy chairman of the board of directors is unable or fails to perform his duties, it may be convened or presided over by a director elected by a majority of the directors. | | 第七十二条 董事会会议由董事长召集和主持；董事长不能履行职务或者不履行职务的，由副董事长召集和主持；副董事长不能履行职务或者不履行职务的，由过半数的董事共同推举一名董事召集和主持。 |
| Article 73 Unless it is otherwise provided for by this Law, the discussion methods and voting procedures of the board of directors shall be specified by the bylaw. | | 第七十三条 董事会的议事方式和表决程序，除本法有规定的外，由公司章程规定。 |
| No meeting of the board of directors may be held unless a majority of the directors are present. When the board of directors makes a resolution, it shall be adopted by a majority of all the directors. | | 董事会会议应当有过半数的董事出席方可举行。董事会作出决议，应当经全体董事的过半数通过。 |
| For the voting on a resolution of the board of directors, each director shall have one vote only. | | 董事会决议的表决，应当一人一票。 |
| The board of directors shall make minutes of the decisions about the matters discussed at the meetings thereof. The shareholders who attend the meeting shall affix their signatures to the minutes. | | 董事会应当对所议事项的决定作成会议记录，出席会议的董事应当在会议记录上签名。 |
| Article 74 A limited liability company may have a manager, who shall be hired or dismissed upon decision of the board of directors. | | 第七十四条 有限责任公司可以设经理，由董事会决定聘任或者解聘。 |
| The manager shall be responsible to the board of directors, and perform functions in accordance with the company's bylaw or under the authority of the board of directors. The manager attends the meetings of the board of directors as a non-voting representative. | | 经理对董事会负责，根据公司章程的规定或者董事会的授权行使职权。经理列席董事会会议。 |
| Article 75 A limited liability company that is small or has a small number of shareholders is not required to establish a board of directors, and may have one director who exercises the functions of the board of directors as provided for in this Law. The director may concurrently hold the post of the company's manager. | | 第七十五条 规模较小或者股东人数较少的有限责任公司，可以不设董事会，设一名董事，行使本法规定的董事会的职权。该董事可以兼任公司经理。 |
| Article 76 A limited liability company shall have a board of supervisors, except as otherwise provided for in Articles 69 and 83 of this Law. | | 第七十六条 有限责任公司设监事会，本法第六十九条、第八十三条另有规定的除外。 |
| The board of supervisors shall consist of three or more members. The members of the board of supervisors shall include representatives of shareholders and an appropriate percentage of representatives of the company's employees. The percentage of the representatives of employees shall account for no less than 1/3 of all the supervisors, but the concrete percentage shall be specified in the bylaw. The representatives of employees who serve as members of the board of supervisors shall be democratically elected through the assembly of representatives of the company's employees, the shareholders' assembly or by other means. | | 监事会成员为三人以上。监事会成员应当包括股东代表和适当比例的公司职工代表，其中职工代表的比例不得低于三分之一，具体比例由公司章程规定。监事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。 |
| The board of supervisors shall have one chairman, who shall be elected by a majority of all the supervisors. The chairman of the board of supervisors shall convene and preside over the meetings of the board of supervisors. If the chairman of supervisors is unable or fails to perform his duties, the supervisor elected by a majority of the supervisors shall convene and preside over the meetings of the board of supervisors. | | 监事会设主席一人，由全体监事过半数选举产生。监事会主席召集和主持监事会会议；监事会主席不能履行职务或者不履行职务的，由过半数的监事共同推举一名监事召集和主持监事会会议。 |
| No director or senior manager may concurrently act as a supervisor. | | 董事、高级管理人员不得兼任监事。 |
| Article 77 Each term of office of the supervisors shall be 3 years. The supervisors may, after the expiry of their term of office, hold a consecutive term upon reelection. | | 第七十七条 监事的任期每届为三年。监事任期届满，连选可以连任。 |
| If no reelection is timely carried out after the expiry of the term of office of the supervisors, or if the number of the members of the board of directors is less than the quorum due to the resignation of some directors from the board of supervisors prior to the expiry of their term of office, the original supervisors shall, before the newly elected supervisors assume their posts, exercise the powers of the supervisors according to laws, administrative regulations, as well as the bylaw. | | 监事任期届满未及时改选，或者监事在任期内辞任导致监事会成员低于法定人数的，在改选出的监事就任前，原监事仍应当依照法律、行政法规和公司章程的规定，履行监事职务。 |
| Article 78 The board of supervisors may exercise the following powers: | | 第七十八条北大法宝，版权所有 监事会行使下列职权： |
| (1) To check the financial affairs of the company; | | （一）检查公司财务； |
| (2) To supervise the duty-related acts of the directors and senior managers, to put forward proposals to relieve any director or senior manager who violates any law, administrative regulation, the bylaw or any resolution of the shareholders' meeting; | | （二）对董事、高级管理人员执行职务的行为进行监督，对违反法律、行政法规、公司章程或者股东会决议的董事、高级管理人员提出解任的建议； |
| (3) To demand any director or senior manager to make corrections if his act has injured the interests of the company; | | （三）当董事、高级管理人员的行为损害公司的利益时，要求董事、高级管理人员予以纠正； |
| (4) To propose to call interim shareholders' meetings, to call and preside over shareholders' meetings when the board of directors does not exercise the function of calling and presiding over shareholders' meetings as prescribed in this Law; | | （四）提议召开临时股东会会议，在董事会不履行本法规定的召集和主持股东会会议职责时召集和主持股东会会议； |
| (5) To put forward proposals at shareholders' meetings; | | （五）向股东会会议提出提案； |
| (6) To initiate actions against directors or senior managers according to Article 189 of this Law; and | | （六）依照本法第一百八十九条的规定，对董事、高级管理人员提起诉讼； |
| (7) Other duties as provided for by the bylaw. | | （七）公司章程规定的其他职权。 |
| Article 79 The supervisors may attend the meetings of the board of directors as non-voting attendees, and may raise questions or suggestions about the meeting agenda discussed by the board of directors. | | 第七十九条 监事可以列席董事会会议，并对董事会决议事项提出质询或者建议。 |
| If the board of supervisors finds that the company is running abnormally, they may conduct an investigation. Where necessary, they may hire an accounting firm to help them with the investigation and the related expenses shall be borne by the company. | | 监事会发现公司经营情况异常，可以进行调查；必要时，可以聘请会计师事务所等协助其工作，费用由公司承担。 |
| Article 80 The board of supervisors may require directors and senior managers to submit reports on the performance of their duties. | | 第八十条 监事会可以要求董事、高级管理人员提交执行职务的报告。 |
| Directors and senior managers shall truthfully provide relevant information and materials to the board of supervisors, and shall not obstruct the board of supervisors or supervisors in exercising their functions. | | 董事、高级管理人员应当如实向监事会提供有关情况和资料，不得妨碍监事会或者监事行使职权。 |
| Article 81 The board of supervisors shall hold meetings at least once a year. Any supervisors may propose to hold interim meetings of the board of supervisors. | | 第八十一条 监事会每年度至少召开一次会议，监事可以提议召开临时监事会会议。 |
| The discussion methods and voting procedures of the board of supervisors shall be specified in the bylaw unless it is otherwise provided for by this Law. | | 监事会的议事方式和表决程序，除本法有规定的外，由公司章程规定。 |
| The resolution of the board of supervisors requires the approval of more than half of the members of board of supervisors. | | 监事会决议应当经全体监事的过半数通过。 |
| For the voting on a resolution of the board of supervisors, each supervisor shall have one vote only. | | 监事会决议的表决，应当一人一票。 |
| The board of supervisors shall prepare minutes for the decisions about the matters discussed at the meeting, which shall be signed by the supervisors in presence. | | 监事会应当对所议事项的决定作成会议记录，出席会议的监事应当在会议记录上签名。 |
| Article 82 The expenses necessary for the board of supervisors to exercise its functions shall be borne by the company. | | 第八十二条 监事会行使职权所必需的费用，由公司承担。 |
| Article 83 A limited liability company that is small or has a small number of shareholders is not required to establish a board of supervisors, and may either have one supervisor who exercises the functions of the board of supervisors specified in this Law or have no supervisor with the unanimous consent of all shareholders. | | 第八十三条 规模较小或者股东人数较少的有限责任公司，可以不设监事会，设一名监事，行使本法规定的监事会的职权；经全体股东一致同意，也可以不设监事。 |
| Chapter IV Transfer of Equities of a Limited Liability Company | | 第四章 有限责任公司的股权转让 |
| Article 84 All or some of the stock rights of the shareholders of a limited liability company may be transferred among the shareholders. | | 第八十四条 有限责任公司的股东之间可以相互转让其全部或者部分股权。 |
| Where a shareholder intends to transfer his stock rights to a person other than a shareholder, he shall notify the other shareholders in writing of such matters as the quantity, price, payment method, and period of the equity transfer, and the other shareholders shall have a preemptive right under the same conditions. If a shareholder fails to reply within 30 days of receipt of the written notice, he shall be deemed to have waived the preemptive right. If two or more shareholders exercise the preemptive right, they shall determine their respective purchase percentage through negotiation. If they fail to reach an agreement during the negotiation, they shall exercise the preemptive right on the basis of their respective percentage of capital contributions. | | 股东向股东以外的人转让股权的，应当将股权转让的数量、价格、支付方式和期限等事项书面通知其他股东，其他股东在同等条件下有优先购买权。股东自接到书面通知之日起三十日内未答复的，视为放弃优先购买权。两个以上股东行使优先购买权的，协商确定各自的购买比例；协商不成的，按照转让时各自的出资比例行使优先购买权。 |
| Unless it is otherwise provided for the transfer of stock rights in the bylaw, the bylaw shall be followed. | | 公司章程对股权转让另有规定的，从其规定。 |
| Article 85 When the people's court transfers the stock rights of a shareholder pursuant to the mandatory enforcement procedure as provided in laws, the court shall notify the company and all the shareholders that the other shareholders have a preemptive right under the same conditions. If any of the other shareholders fails to exercise the preemptive right within 20 days after he/it receives the notice of the court, it shall be deemed to have waived his preemptive right. | | 第八十五条 人民法院依照法律规定的强制执行程序转让股东的股权时，应当通知公司及全体股东，其他股东在同等条件下有优先购买权。其他股东自人民法院通知之日起满二十日不行使优先购买权的，视为放弃优先购买权。 |
| Article 86 If a shareholder transfers his equities, he shall notify the company in writing, request the registry of shareholders to be modified, and request the company to make modification registration with the company registration authority, if necessary. If the company refuses or fails to reply within a reasonable period, the transferor or transferee may initiate an action in the people's court in accordance with the law. | | 第八十六条 股东转让股权的，应当书面通知公司，请求变更股东名册；需要办理变更登记的，并请求公司向公司登记机关办理变更登记。公司拒绝或者在合理期限内不予答复的，转让人、受让人可以依法向人民法院提起诉讼。 |
| In an equity transfer, the transferee may present a claim for exercise of shareholder rights to the company at or after the time the transferee is recorded in the registry of shareholders. | | 股权转让的，受让人自记载于股东名册时起可以向公司主张行使股东权利。 |
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