Legal basis: Article 9 of the Company Law of People's Republic of China (PRC). Where a limited liability company is changed into a joint stock limited company, it shall comply with the provisions of this Law. When a joint stock limited company is changed into a limited liability company, it shall meet the conditions of a limited liability company as stipulated in this Law.
Where a limited liability company is changed into a joint stock limited company, or a joint stock limited company is changed into a limited liability company, the creditor's rights and debts before the company change shall be inherited by the changed company.