The main bodies of Chinese-foreign joint stock limited companies are foreign companies, enterprises and other economic organizations or individuals, as well as companies, enterprises or other economic organizations in China. Sino-foreign joint venture means that in order to expand international economic cooperation and technical exchanges, China allows foreign companies, enterprises and other economic organizations or individuals to establish joint ventures with companies, enterprises or other economic organizations in China on the basis of equality and mutual benefit and with the approval of the China government.
The China Municipal Government shall protect the investment, profits and other legitimate rights and interests of foreign parties in a joint venture in accordance with the agreements, contracts and articles of association approved by the China Municipal Government. All activities of a joint venture shall abide by the laws and regulations of People's Republic of China (PRC). The state does not nationalize and levy joint ventures.
Comments on sino-foreign joint ventures
1. Ownership structure. The share capital of a Chinese-foreign joint stock limited company consists of equal shares, with China shareholders and foreign shareholders each holding 50% of the shares.
2. Registered capital. The registered capital of a Chinese-foreign joint stock limited company is the total share capital registered with the company registration authority.
3. Organizational form. Chinese and foreign joint stock companies are limited liability companies with independent legal personality.
4. Conditions for establishment. The conditions for establishing a Chinese-foreign joint stock limited company include: company name, organization and articles of association; It has a registered capital meeting the provisions of the Articles of Association; The number of shareholders meeting the requirements; It has a business scope that conforms to the laws of China; A company registration system that complies with the laws of China.