1. Article 67 is amended as: "The board of supervisors of a wholly state-owned company is mainly composed of personnel appointed by institutions and departments authorized by the State Council or the State Council, and employees' representatives of the company participate. The members of the board of supervisors shall not be less than three. The Board of Supervisors shall exercise the functions and powers stipulated in Items (1) and (2) of Paragraph 1 of Article 54 of this Law and other functions and powers stipulated by the State Council. " "Supervisors attend board meetings as nonvoting delegates." "Directors, managers and financial officers shall not concurrently serve as supervisors. "2. One paragraph is added as the second paragraph of Article 229:" For a high-tech joint stock limited company, the proportion of the amount contributed by the promoters with industrial property rights and non-patented technology to the registered capital of the company, and the conditions for the company to issue new shares and apply for listing of shares shall be separately stipulated by the State Council. "
The Company Law of People's Republic of China (PRC) is revised and re-promulgated according to this decision.
Supporting qualified high-tech joint-stock companies to enter the securities market for direct financing is conducive to the development of high-tech industries. High-tech joint-stock companies must adhere to the national industrial policy and meet the requirements of high technology by using the capital market to raise development funds. According to the characteristics of high-tech joint-stock companies, their listed stocks are traded on the existing stock exchanges by setting up a separate trading system. In view of the lack of experience and high risks, this work should be carried out in a planned, step-by-step manner, actively and steadily.
This decision shall come into force as of the date of promulgation.