Shanghai Commentary 1-2014


PRC to Reform Registered Capital Regime via Amendment to its Company Law and Laws on Foreign Invested Enterprises

Following the trial of reforming the registered capital regime in Shenzhen city and Zhuhai city of Guangdong province in the early 2013 and in Shanghai Free Trade Zone launched last September, the Standing Committee of National People’s Congress of China, on December 28, 2013, promulgated the amendment of PRC Company Law (“Company Law Amendment 2013”), which took effect from March 1, 2014 to implement the reform of registered capital regime nationwide. After that, on February 7, 2014, the State Council circulated the Notice on the Reform Plans of Registered Capital Regime to implement the Company Law Amendment 2013 in detail. Furthermore, on February 19, 2014, the State Council issued Decisions on Abolishment and Modification of Certain Administrative Regulations in order to adapt the old registered capital regime as regulated in those administrative regulations with the new one stipulated in the Company Law Amendment 2013, pursuant to which, since March 1, 2014.


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