China’s supreme legislature voted on The Amendatory Draft of Company Law of the People’s Republic of China, on Oct. 27, and will allow, for the first time, limited liability companies to be established by individuals.
According to the revision of the Company Law, a limited company run by one person refers to a limited company in which there is only one natural person or one corporation. The lowest registered capital is RMB 0.1 million for the establishment of a limited company.
(CHINA KNOWLEDGE PRESS)