Since 2021, there has been a long period of studies and discussions about revisions to the Company Law and three versions of draft amendments have been issued seeking public opinions. Finally, on 29 December 2023, the PRC Standing Committee of the National People’s Congress (the “NPC”) adopted a revised Company Law of the People’s Republic of China (the “New Company Law”), which will come into effect from 1 July 2024.
Since very few foreign-invested enterprises choose the corporate form of a company limited by shares, this Client Alert focuses on key matters concerning limited liability companies, setting out the information foreign investors need to know.