1. The net assets of a joint stock limited company shall not be less than RMB 30 million, and the net assets of a limited liability company shall not be less than RMB 60 million.
2. The total amount of accumulated bonds shall not exceed 40% of the net assets.
3. The company's 3-year average distributable profit is enough to pay the interest of corporate bonds 1 year.
4. The investment of raised funds conforms to the national industrial policy.
5. The bond interest rate shall not exceed the interest rate level stipulated by the State Council.
Legal basis: People's Republic of China (PRC) Company Law.
Article 154 The term "corporate bonds" as mentioned in this Law refers to the securities issued by a company in accordance with legal procedures and agreed to repay the principal and interest within a certain period of time. The issuance of corporate bonds by a company shall conform to the issuance conditions stipulated in the Securities Law of People's Republic of China (PRC).
Article 155 After the application for issuing corporate bonds is approved by the department authorized by the State Council, the method for raising corporate bonds shall be announced. The measures for raising corporate bonds shall specify the following main items:
(1) Name of the company; (2) the purpose of the funds raised by bonds; (3) The total amount of bonds and the par value of bonds. (4) How to determine the bond interest rate; (5) The time limit and method for repaying the principal and interest; (6) Bond guarantee; (7) The issue price and date of the bonds; (8) The net assets of the company. (9) The total amount of corporate bonds issued but not yet due. (10) Corporate bond underwriting institutions.
Article 156 Where a company issues corporate bonds in the form of physical bonds, it must specify the company name, face value of the bonds, interest rate, repayment period and other matters. Bonds shall be signed by the legal representative and stamped with the official seal of the company.