legal ground
Article 2 of the Measures for the Supervision and Administration of Unlisted Public Companies
The term "unlisted public company" as mentioned in these Measures refers to a joint stock limited company whose shares are not listed on the stock exchange under any of the following circumstances:
(1) The total number of shareholders exceeds 200 due to the issuance or transfer of shares to specific objects;
(2) Public transfer of shares.
essay
A public company shall, in accordance with laws, administrative regulations, these Measures and the articles of association, realize clear property rights, legal and standardized operation, sound corporate governance mechanism and fulfill the obligation of information disclosure.
Article 4
The public company's public transfer of shares shall be carried out in the national share transfer system for small and medium-sized enterprises (hereinafter referred to as the national share transfer system), and the publicly transferred shares of public companies shall be registered and deposited with China Securities Depository and Clearing Corporation.
Article 5
Public companies can carry out equity financing, debt financing, asset restructuring and so on. According to the law. Public companies issuing preferred shares, convertible corporate bonds and other securities shall abide by laws, administrative regulations and the relevant provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission).