Legal basis: People's Republic of China (PRC) Company Law.
Article 180 The company is dissolved due to the following reasons: (1) The business term stipulated in the articles of association expires or other reasons for dissolution stipulated in the articles of association occur; (2) The shareholders' meeting or shareholders' meeting decides to dissolve; (3) The company needs to be dissolved due to merger or division; (4) The business license is revoked, ordered to close down or revoked according to law; (5) The people's court is dissolved in accordance with the provisions of Article 182 of this Law.
Article 183 Where a company is dissolved due to the provisions of Item (1), Item (2), Item (4) and Item (5) of Article 180 of this Law, a liquidation group shall be established within 15 days from the date when the reasons for dissolution appear to start liquidation. The liquidation group of a limited liability company is composed of shareholders, and the liquidation group of a joint stock limited company is composed of directors or personnel determined by the shareholders' meeting. If a liquidation group is not established for liquidation within the time limit, the creditor may apply to the people's court to appoint relevant personnel to form a liquidation group for liquidation. The people's court shall accept the application and promptly organize a liquidation group to carry out liquidation.