Legal analysis: Yes. A limited liability company refers to an economic organization registered in accordance with the Regulations of the People's Republic of China on the Administration of Company Registration, which is established with contributions from less than 50 shareholders. Each shareholder shall bear limited liability to the company with his subscribed capital contribution, and the company shall bear liability for its debts with all its assets. Limited liability companies include wholly state-owned companies and other limited liability companies. The term "limited liability company" as mentioned in the Company Law refers to a company established within the territory of China, and the shareholders of the company are liable to the company to the extent of their subscribed capital contribution.
Legal basis: Article 3 of the Company Law of People's Republic of China (PRC): the definition of a company and the responsibilities of shareholders. The company is an enterprise legal person, with independent legal person property and legal person property rights. The company is liable for its debts with all its property. Shareholders of a limited liability company shall be liable to the company to the extent of their subscribed capital contribution; Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them.