On the meaning of joint stock limited company

A company limited by shares means a legal person established in China according to law. Its capital consists of shares, and it enjoys the property rights of a legal person, and can independently enjoy civil rights and undertake civil obligations. A joint stock limited company is an enterprise legal person and an independent civil subject. People's Republic of China (PRC) Company Law Article 2 The term "company" as mentioned in this law refers to a limited liability company and a joint stock limited company established in China according to this law. Article 3 A company is an enterprise legal person, which has independent legal person property and enjoys legal person property rights. The company is liable for its debts with all its property. Shareholders of a limited liability company shall be liable to the company to the extent of their subscribed capital contribution; Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them. Article 4 Shareholders of a company shall enjoy the right to return on assets, participate in major decisions and choose managers according to law.