2. According to the relevant provisions of Section 5 of Chapter 4 of the Company Law of People's Republic of China (PRC), a listed company refers to a joint stock limited company whose publicly issued shares are approved by the securities management department authorized by the State Council or the State Council to be listed and traded on the stock exchange. The so-called unlisted company refers to a joint stock limited company whose shares are not listed and traded on the stock exchange.
3. A listed company is a company limited by shares. In addition to examination and approval, the company must meet certain conditions for listing on the stock exchange. After the revision of the Company Law and the Securities Law, more enterprises will become listed companies and companies whose corporate bonds are listed and traded.