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China Amends Company Law Provisions
China’s National People’s Congress approved recent modifications suggested under the company law of the People's Republic of China (PRC).
Amendments to the Company Law provisions include:
· Eliminating the registered capital requirements for incorporating companies.
· Updating the paid-up capital registration system to a subscription based system.
· Doing away with the minimum capital requirements.
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Companies planning to set base in China may find the new company registration requirements easier than previously. The new rules are based on the principle of treating both domestic and foreign investors at par.
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