Can a newly established company set up a subsidiary?

The new "Company Law" stipulates that the main ways to set up a subsidiary are: first, it is approved by the shareholders' meeting of the parent company and meets the company registration conditions, and finally it applies to the company registration authority for company registration. And the above registration conditions include: 1, and the shareholders meet the quorum; 2. The amount of capital contribution subscribed by all shareholders in accordance with the Articles of Association; 3. Shareholders * * * jointly formulate the Articles of Association; 4. Other conditions. Legal basis: Branch companies can be established in Article 14 of People's Republic of China (PRC) Company Law. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company. A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law.