Legal basis: People's Republic of China (PRC) and the national code law.
Article 67 Where a legal person is merged, its rights and obligations shall be enjoyed and assumed by the merged legal person. Where a legal person is divided, its rights and obligations shall be jointly claimed by the divided legal person, unless otherwise agreed by the creditor and the debtor.
Article 70 Where a legal person is dissolved, except for merger or division, the liquidation obligor shall set up a liquidation group in time to carry out liquidation. Directors of legal persons, directors of executive organs or decision-making bodies and other members are liquidation obligors. Where laws and administrative regulations provide otherwise, such provisions shall prevail. If the liquidation obligor fails to perform the liquidation obligation in time and causes damage, it shall bear civil liability; The competent authority or interested party may apply to the people's court to appoint relevant personnel to form a liquidation group for liquidation.
Article 174 of the Company Law of People's Republic of China (PRC) When companies are merged, the creditor's rights and debts of the merging parties shall be inherited by the surviving company or the newly established company after the merger.