[Feb 22 | Suzhou] GCC Knowledge Hub: 

China's Revised Company Law

Language: English

Date & Time: February 22, 2024, 2:00 p.m. - 4:30 p.m.

Venue: 3F Function Room 2+3, M Social Hotel Suzhou, 

HLCC, Tower 4, No.788 Zhongyuan Road, 

Suzhou Industrial Park, Jiangsu, China

On December 29, 2023, China enacted its substantially revised Company Law. It now contains 266 articles with sweeping changes in many areas and will take effect on July 1, 2024. Another important deadline is December 31, 2024, by which time older foreign-invested enterprises must adjust their organizational form and other aspects. The revised Company Law includes, among other things:

• Revised capitalization rules, including: a five-year deadline for capital contributions and transition rules for existing companies; publication of registered and actual paid-up capital, internal audit requirement for paid-up capital and legal consequences for late contributions; right of third-party creditors to demand earlier capital contributions; use of reserves for loss coverage, business expansion or capital increase.

• Changed internal structure, including: an optional "audit committee" within the Board of Directors; possible incorporation of companies without a supervisory board.

• Mandatory involvement of Employee Representatives, including: on the board of companies with more than 300 employees; during company restructuring.

• Revised share transfer rules, including waiver of pre-emption rights; enforcement of share transfers; liability of transferee; right of shareholders to require company to purchase their shares in certain cases.

• Liability of legal representatives, directors, officers, controlling shareholders; in relation to related transactions; during the formation process; in relation to wrongful distribution of profits.

• Formalities, including: resignation of the legal representative, electronic decision-making, invalidity of Shareholder/Board decisions, mandatory extension of the term of office of directors/supervisory directors, registered capital reduction process, liquidation process.

  
  

In this workshop, Mr. Ralph Koppitz, partner of Rödl & Partner China, will introduce the main changes of the new Company Law, including the mandatory obligations for older companies to revise their organizational form, organizational structure, and more.

Agenda:

2:00 - 2:30 p.m. Registration 

2:30 - 2:35 p.m. Welcome Remarks by German Chamber of Commerce in China - Shanghai

2:35 - 3:45 p.m. Presentation

3:45 - 4:00 p.m. Q&A

4:00 - 4:30 p.m. Closing & Networking

**Please note that

 * Please complete registration and payment online in advance. 

 * No-shows who fail to cancel 24 hours before the event will be charged with the full price.

 * Fapiao will be sent to you digitally to your registered email address in 15-20 working days after the event.

 * If you have any questions regarding registration, please feel free to contact chamber-east-events@china.ahk.de.