Legal analysis: the legal provisions of joint-stock companies mainly include: 1, and the differences in the forms of equity expression: in a limited liability company, shareholders are liable to the company to the extent of their capital contribution, and the company is liable to the company's debts with all its assets. In a joint stock limited company, all its capital is divided into equal shares, shareholders are liable to the company to the extent of their shares, and the company is liable to the company's debts with all its assets. 2. Limitation on the number of shareholders: A limited liability company is established by capital contribution of less than 50 shareholders. The establishment of a joint stock limited company shall have two or more promoters, of whom more than half of the promoters shall have their domicile in China. 3. The difference between the way of establishment and the process: a limited liability company can only raise funds from the promoters, and a joint stock limited company can raise funds from the society. Where a joint stock limited company is established by offering, the shares subscribed by the promoters shall not be less than 35% of the total shares of the company.
Legal basis: Article 138 of the Company Law of People's Republic of China (PRC). Shareholders shall transfer their shares in a legally established securities exchange or in other ways prescribed by the State Council.