China Travel & Tourism News
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China's Legislature to Revise Corporation Law
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| 25-Feb-2005 - China Radio International |
A draft amendment on Corporation Law including 44 new items has been submitted to China's legislature for first deliberation.
A draft amendment on Corporation Law has been submitted to China's legislature for first deliberation.
The amendment includes 44 new items and deletion of 13 items.
Director of the Legislative Affairs Office of the State Council Cao Kangtai says that the original Corporation Law did not comply with the country's deepening economic reform and improved socialist market economy.
The official adds the original Corporation Law could not meet people's investment needs with a very high level of registered capital.
If the changes to the law are approved, individuals will be allowed to establish one-person companies with a minimum registered capital of 100 thousand yuan or over 12 thousand US dollars.
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| 25-Feb-2005 - China Radio International |
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