Legal basis: Civil Code of People's Republic of China (PRC).
Article 76 A legal person is a profit-making legal person established for the purpose of obtaining profits and distributing them to shareholders and other investors.
For-profit legal persons include limited liability companies, joint stock limited companies and other corporate legal persons.
Article 77 A profit-making legal person has been registered and established according to law.
Article 78 A legally established for-profit legal person shall be issued a business license by the registration authority. The date of issuance of the business license is the date of establishment of the profit-making legal person.
Article 79 To establish a profit-making legal person, the articles of association of the legal person shall be formulated according to law.
Article 80 A profit-making enterprise as a legal person shall set up a competent authority.
The organ of power exercises the functions and powers stipulated in the articles of association of the legal person, and elects or replaces the members of the executive organ and the supervisory organ, as well as the personnel stipulated in the articles of association of the legal person.
Article 8 1 A profit-making enterprise as a legal person shall set up an executing agency.
The executive organ shall exercise other functions and powers as stipulated in the articles of association of the legal person, such as convening institutional meetings, deciding on the business plan and investment plan of the legal person, and deciding on the establishment of the internal management organization of the legal person.
If the executive agency is the board of directors or executive director, the chairman, executive director or manager shall be the legal representative in accordance with the provisions of the articles of association of the legal person; If there is no board of directors or executive director, the main person in charge as stipulated in the articles of association of the legal person shall be its executive organ and legal representative.
Article 82 If a profit-making legal person has a supervisory body such as a board of supervisors, the supervisory body shall exercise the functions and powers of checking the financial affairs of the legal person, supervising the members of the executive body and senior management personnel to perform the duties of the legal person and other functions and powers stipulated in the articles of association of the legal person.