legal ground
Article 31 of the Regulations of the People's Republic of China on the Administration of Company Registration
Where a company increases its registered capital, it shall apply for registration of change within 30 days from the date of making the resolution or decision on change.
Where a company reduces its registered capital, it shall apply for registration of change after 45 days from the date of announcement, and submit the relevant certificates of the company's announcement of the company's reduction of registered capital in newspapers and the explanation of the company's debt settlement or debt guarantee.
Article 43 of the Company Law
The discussion methods and voting procedures of the shareholders' meeting shall be stipulated in the articles of association of the company, unless otherwise stipulated in this Law.
The shareholders' meeting shall make resolutions on amending the Articles of Association, increasing or decreasing the registered capital, and on the merger, division, dissolution or change of corporate form of the company, which must be approved by shareholders representing more than two thirds of the voting rights.