A company with only 1 shareholders is called a wholly-owned company. A sole proprietorship enterprise refers to a business entity invested by a natural person, and its property belongs to the investor, who shall bear unlimited liability for the debts of the enterprise with his personal property. The investor of a sole proprietorship enterprise can only be a natural person.
Legal objectivity:
The provisions of this section shall apply to the establishment and organization of Article 57 of the Company Law of People's Republic of China (PRC). Where there are no provisions in this section, the provisions in the first and second sections of this chapter shall apply. A one-person limited liability company as mentioned in this Law refers to a limited liability company with only one natural person shareholder or one corporate shareholders.