Legal basis: People's Republic of China (PRC) Company Law.
Article 2 The term "company" as mentioned in this Law refers to limited liability companies and joint stock limited companies established in China according to this Law.
Article 23 To establish a limited liability company, the following conditions shall be met:
(1) Shareholders meet the quorum;
(2) The capital contribution subscribed by all shareholders in accordance with the Articles of Association;
(3) Shareholders * * * agree to formulate the Articles of Association;
(4) Having a company name and establishing an organization meeting the requirements of a limited liability company;
(5) Having a company domicile.
Article 24 A limited liability company shall be established by capital contribution of shareholders with less than 50 persons.