Legal basis: Article 2 of the Partnership Enterprise Law of People's Republic of China (PRC). The term "partnership enterprise" as mentioned in this Law refers to a for-profit organization established within the territory of China according to this Law, in which all partners enter into a partnership agreement, * * * jointly contribute capital, operate in partnership, * * * enjoy benefits, * * * bear risks and bear unlimited joint and several liabilities for the debts of the partnership enterprise.