The parent company can buy the assets of its subsidiaries. Because both have legal personality. The civil liability arising from the subsidiary shall be borne by the subsidiary independently, and the parent company is not required to repay its debts during the bankruptcy liquidation. A subsidiary may set up branches and subsidiaries.
Legal objectivity:
Article 13 of the Company Law The legal representative of a company shall be the chairman, executive director or manager in accordance with the articles of association, and shall be registered according to law. Where the legal representative of the company changes, it shall go through the registration of change. Article 14 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.