Jan 2024 - Amended Company Law of the People's Republic of China will be effected on 1 July 2024
InsightsOur publicationsAccounting & Outsourcing newsletters
Jan 2024 - Amended Company Law of the PRC
The amended Company Law of the People's Republic of China, adopted on 29 December 2023, will take effect on 1 July 2024.
We summarize down below the main measures that may have an impact on your operations.
We summarize down below the main measures that may have an impact on your operations.
Main changes of this amendment
Point of Attention
- Please note that the detailed application rules are not issued yet, several points need to be clarified such as the timeline to contribute to the registered capital for already incorporated Company, whether the value of shares or payables must be certified officially in advance in case of capital contribution….
- If the timeline to contribute to the capital is abnormal, Administration for Market Regulation (“AMR”) may require the company to adjust timely in accordance with this law.
We will keep you posted if further detailed implementing rules are published.
We remain available should you have any questions. Please do not hesitate to reach out to your Mazars point of contact.
Reference:
Standing Committee of the National People's Congress, Presidential Decree No.15: Company Law of the People's Republic of China (Amended in 2023) ( link here in Chinese).
Document
Contact
Joan WU Qiong Partner, Accounting & Outsourcing Solutions - Guangzhou Tianhe District
