It can be established through overall reorganization. Specifically, determine the base date and reorganize all the assets of the branch and its related creditor's rights, debts and personnel into a newly established wholly-owned subsidiary. After the establishment of the new company, the branch will be cancelled. Determine the base date and basic reorganization plan, convene the board of directors and shareholders' meeting, determine the base date of reorganization, pass the proposal on hiring an accounting firm, issue an evaluation report on the specific assets involved in the restructuring of the company's branches into subsidiaries, and determine the specific reorganization plan according to the above audit or evaluation results. The proposal of the board of directors was approved by the shareholders' meeting and finally passed. Company Law of the People's Republic of China
Article 14 A company may set up branches. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company.
A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law.