Legal basis: Article 3 of People's Republic of China (PRC) Company Law is an enterprise legal person with independent legal person property and legal person property rights. The company is liable for its debts with all its property. Shareholders of a limited liability company shall be liable to the company to the extent of their subscribed capital contribution; Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them.
People's Republic of China (PRC) Civil Code
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.