Who is responsible for repaying the debts of the statutory company?

According to relevant laws and regulations, the company law is only applicable to companies with independent legal personality such as limited liability companies and joint stock limited companies. The company is liable for its debts with all its property.

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Article 2 of the company law

The term "company" as mentioned in this Law refers to limited liability companies and joint stock limited companies established in China according to this Law.

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The company 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; Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them.