Legal basis: Article 76 of the Company Law of People's Republic of China (PRC) shall meet the following conditions for the establishment of a joint stock limited company:
(1) The promoters meet the quorum;
(2) It has the total amount of capital subscribed or paid-in by all promoters in accordance with the articles of association;
(3) The issuance and offering of shares comply with the law;
(4) The promoters shall formulate articles of association, which shall be adopted by the founding meeting;
(5) Having a company name and establishing an organization meeting the requirements of a joint stock limited company;
(6) Having a company domicile.
Article 78 To establish a joint stock limited company, there shall be two or more promoters, more than half of whom shall have their domicile in China.