According to the Company Law, a limited company shall set up a board of directors and a board of supervisors. However, if the board of directors and the board of supervisors are not established, an executive director and 1-2 supervisors are needed.
A joint-stock company needs to set up a board of directors and a board of supervisors.
Therefore, the management and supervision institutions of the subsidiaries of the group company are independent whether they are established or not.
So subsidiaries should have their own independent board of directors (executive directors) and board of supervisors (supervisors).