New Amendment of Company Law of PRC Simplifies the Establishment of A Company in China

On December 28, 2013, the Standing Committee of National People’s Congress made a decision to amend the Company Law of PRC and the new amendment (the “Amendment”) will take effect on March 1, 2014. The Amendment abolishes several core requirements for the company establishment in China, including the paid-in capital, minimum of registered capital, installment…