The number of sponsors meets the quorum. The promoters shall be 2 or more and 200 or less, and more than half of them must have residence in China.
The registered capital sponsors have subscribed for and raised the share capital to the statutory minimum. The minimum registered capital of a joint stock limited company is RMB 5 million. Where laws and administrative regulations have higher provisions on the minimum registered capital of a joint stock limited company, those provisions shall prevail.
Legal stock issuance and preparation are in compliance with the law. The promoters must declare the documents in accordance with the regulations and undertake the preparatory work for the company.
The promoters of articles of association shall formulate articles of association, which shall be established by offering and approved by the founding meeting. The promoters shall formulate the draft articles of association in accordance with the requirements of the Company Law and the Guidelines for the Articles of Association of Listed Companies.
If the company name has a company name, an organization meeting the requirements of a joint stock limited company shall be established. The joint stock limited company to be established shall determine the company name according to the requirements of industrial and commercial registration, and set up a shareholders' meeting, a board of directors, a board of supervisors and a manager.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.