Legal basis: Article 3 of People's Republic of China (PRC) Company Law is an enterprise legal person with independent legal person property and 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, and shareholders of a limited liability company shall be liable to the company to the extent of their subscribed shares.
Article 3 of the Administrative Punishment Law of the People's Republic of China If a citizen, legal person or other organization violates the administrative order and should be given administrative punishment, it shall be prescribed by laws, regulations or rules in accordance with this Law, and shall be implemented by the administrative organ in accordance with the procedures prescribed in this Law. Administrative punishment is invalid if there is no legal basis or if legal procedures are not followed.