Legal analysis: the difference between them is that the capital contribution is 100%, and the shareholder is only one big company, and the big company owns 100% of the shares. Holding is more than one shareholder (there are other shareholders besides large companies), and there are at least two shareholders. Among all shareholders, large companies have the largest shareholding ratio, or although the shareholding ratio is not the largest, they have the actual control and management rights of subsidiaries.
Legal basis: Branch companies can be established in Article 14 of People's Republic of China (PRC) Company Law. 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.