A branch is a branch or subsidiary directly engaged in business activities of the head office. Although a branch has the word company, it is not a real company. Because the branch does not have the qualification of an enterprise legal person, does not have an independent legal status, and does not bear civil liability independently. A subsidiary refers to a company whose shares are owned by another company or actually controlled by agreement. A subsidiary company has the status of a legal person and can bear civil liability independently. The differences between branches and subsidiaries are as follows: (1) division is based on different subsidiaries corresponding to the parent company, which is independent of the parent company in legal status and has an independent and complete company management organization system; Corresponding to the head office, the branch office is only a subsidiary of the head office in legal status. (2) subsidiaries with different legal person status are independent legal person status, and branches do not have legal person status. (3) The subsidiaries with different responsibilities are responsible for the debt relationship, and the head office is responsible for the debt relationship of the branches. (4) subsidiaries with different forms of expression have independent names and articles of association, while branches have the name of the head office without their own articles of association.
Legal objectivity:
Guiding opinions on authorized operation of state-owned assets of enterprise groups