What are the large unlimited liability companies in China?

At present, there are no unlimited liability companies in China, and there are no unlimited companies in most countries in the world. In the early days of capitalism, there was such a company. At that time, if the company went bankrupt, the owner or shareholder of the company had to sell his property other than the company to pay off the debt.

An unlimited liability company consists of two or more shareholders, who are jointly and severally liable for the debts of the company. Also known as unlimited company. For the most typical man-made company. It must be composed of two or more shareholders, and the shareholders must be natural persons. Shareholders are jointly and severally liable for the company's debts, that is, shareholders must use the property contributed by them and other property as the guarantee for paying off the company's debts. When all the company's property is insufficient to pay off the company's debts, the creditors have the right to ask the shareholders of the company to pay off the outstanding part with their personal property, and the debts between the shareholders are joint and several liability. Shareholders who repay the company's debts beyond their share have the right to recover from other shareholders of the company, so that these shareholders become new creditors.