According to Article 14 of the Company Law, a company may set up branches. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company. A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law.
Where a company invests in other enterprises or provides guarantees for others, it shall be decided by the board of directors or the shareholders' meeting in accordance with the articles of association; Where the articles of association stipulate limits on the total amount of investment or guarantee and the amount of individual investment or guarantee, it shall not exceed the prescribed limits. Where a company provides a guarantee for the company's shareholders or actual controllers, it must be resolved by the shareholders' meeting or the shareholders' meeting.
Extended data:
The relevant requirements of the Head Office and the parent company stipulate:
1. The employees of the company organize trade unions and carry out trade union activities in accordance with the Trade Union Law of People's Republic of China (PRC) to safeguard the legitimate rights and interests of employees. The company shall provide necessary conditions for the activities of the trade union. On behalf of employees, the trade union of the company signs collective contracts with the company on matters such as labor remuneration, working hours, welfare, insurance and labor safety and health. ?
2. The controlling shareholder, actual controller, directors, supervisors and senior managers of the company shall not use their relationship to harm the interests of the company. Anyone who violates the provisions of the preceding paragraph and causes losses to the company shall be liable for compensation.
3. Shareholders of the company shall abide by laws, administrative regulations and the articles of association, exercise their rights according to law, and shall not abuse their rights to harm the interests of the company or other shareholders; The company's independent legal person status and the limited liability of shareholders shall not be abused to harm the interests of the company's creditors.
Fujian Administration for Industry and Commerce-People's Republic of China (PRC) Company Law