The shareholders' rights of general limited liability companies, especially the beneficial rights of * * *, are mainly exercised through the shareholders' meeting. As the institution where all shareholders exercise their rights and the authority of the company, the shareholders' general meeting is a necessary system for general limited companies. A wholly state-owned company has only one investor, and only the state-authorized investment institution or state-authorized department is the sole shareholder of the company, and there is no need to set up a shareholders' meeting.
Legal objectivity:
Article 66 of the Company Law The functions and powers of the shareholders of a wholly state-owned company shall be exercised by the investors-institutions or departments authorized by the state to invest, or institutions authorized by the board of directors. At the same time, it also restricts this authorization, stipulating that some important matters must be decided by the investor-the investment institution authorized by the state or the department authorized by the state. These matters that must be decided by investors (shareholders) are: merger and division of the company; Dissolution of the company; The company increases or decreases its capital; Issue corporate bonds.