What is a restructured enterprise?

Legal analysis: restructuring also refers to the change of enterprise ownership: the restructuring plan of state-owned enterprises should be approved by the workers' congress or the workers' congress; The restructuring of major wholly state-owned enterprises must be audited by the state-owned assets management institution and reported to the government at the same level for approval. Important wholly state-owned enterprises are determined according to the regulations of the State Council.

Legal basis: People's Republic of China (PRC) Company Law.

Article 3 A company is an enterprise legal person, which has independent legal person property and enjoys 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.

Article 4 Shareholders of a company shall enjoy the right to return on assets, participate in major decisions and choose managers according to law.

Article 5 A company engaged in business activities must abide by laws, administrative regulations, social ethics and business ethics, be honest and trustworthy, accept the supervision of the government and the public, and assume social responsibilities. The legitimate rights and interests of the company are protected by law and shall not be infringed.