Legal basis: Civil Code of People's Republic of China (PRC).
Article 57 A legal person is an organization that has the capacity for civil rights and civil conduct, enjoys civil rights and undertakes civil obligations independently according to law.
Article 58 A legal person shall be established according to law.
A legal person shall have its own name, organization, domicile, property or funds. The specific conditions and procedures for the establishment of a legal person shall be in accordance with the provisions of laws and administrative regulations.
The establishment of a legal person shall be approved by the relevant authorities in accordance with the provisions of laws and administrative regulations.
Article 59 The legal person's capacity for civil rights and civil conduct arises when the legal person is established and disappears when the legal person is terminated.
Article 60 A legal person shall bear civil liability independently with all its property.