China’s Company Law was initially enacted in 1993, and was subsequently amended in 1999, 2004, 2013, 2018, and 2005. On December 29, 2023, the Standing Committee of the National People’s Congress approved a comprehensive amendment to the Company Law (as amended, the “New Company Law”). The New Company Law will come into effect on July 1, 2024. Under the New Company Law, 228 articles have been amended, which will impact many aspects of the governance and operations of Chinese companies, including but not limited to a company’s capital structure, corporate governance, shareholders’ obligation to contribute capital, duties of directors and officers, the effects of corporate resolutions, corporate bonds, the registration of a company, etc. In this and a few subsequent posts, we will explain in more detail the changes introduced under the New Company Law.Continue Reading Amendment to China’s Company Law (1): Contribution of Capital and Authorized Capital Concept