Legal basis: People's Republic of China (PRC) Company Law.
Article 23 A limited liability company shall be established with a quorum of shareholders.
Article 44 A limited liability company shall have a board of directors with three to thirteen members, except as otherwise provided in Article 51 of this Law. For a limited liability company established by two or more state-owned enterprises or other state-owned investors, the board of directors of the limited liability company shall have representatives of the employees of the company. The employee representatives in the board of directors are elected by the employees of the company through employee congresses, employee congresses or other forms of democratic elections.
Article 51 A limited liability company shall set up a board of supervisors with not less than three members. A limited liability company with fewer shareholders or smaller scale may have one or two supervisors instead of a board of supervisors.
Article 76 For the establishment of a joint stock limited company, the promoters shall reach a quorum. Article 78 To establish a joint stock limited company, there shall be two or more promoters, more than half of whom shall have their domicile in China.