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中华人民共和国公司法 中英对照 2006版


中华人民共和国公司法(2005修订)

【Title】 Company Law of the People's Republic of China (2005 Revision)[Effective]

【法规标题】中华人民共和国公司法(2005修订) [现行有效]

【法宝引证码】 CLI.1.60597(EN)

DateIssued:    10-27-2005

Effectivedate: 01-01-2006

Issuingauthority:    Standing Committee of theNational People's Congress

Areaof law:     Companies

           发布日期:     2005-10-27

生效日期:     2006-01-01

发布部门:     全国人大常委会

类别:     公司


中华人民共和国主席令

(第42号)

  《中华人民共和国公司法》已由中华人民共和国第十届全国人民代表大会常务委员会第十八次会议于2005年10月27日修订通过,现将修订后的《中华人民共和国公司法》公布,自2006年1月1日起施行。

                      中华人民共和国主席 胡锦涛

2005年10月27


中华人民共和国公司法

(1993年12月29日第八届全国人民代表大会常务委员会第五次会议通过 根据1999年12月25日第九届全国人民代表大会常务委员会第十三次会议《关于修改〈中华人民共和国公司法〉的决定》第一次修正 根据2004年8月28日第十届全国人民代表大会常务委员会第十一次会议《关于修改〈中华人民共和国公司法〉的决定》第二次修正 2005年10月27日第十届全国人民代表大会常务委员会第十八次会议修订)

Order of the President

(No。 42 [2005])

TheCompany Law of the People's Republic of China was amended and adopted at the18th session of the Standing Committee of the Tenth National People's Congressof the People's Republic of China on October 27, 2005. The amended Company Lawof the People's Republic of China is hereby promulgated and shall come intoforce on January 1, 2006.

President of the People's Republic ofChina Hu Jintao

October 27, 2005


Company Law of the People's Republic ofChina

(Adoptedat the Fifth Session of the Standing Committee of the Eighth National People'sCongress on December 29, 1993。 Revised for the first time on December 25, 1999according to the Decision of the Thirteenth Session of the Standing Committeeof the Ninth People's Congress on Amending the Company Law of the People'sRepublic of China。 Revised for the second time on August 28, 2004 according tothe Decision of the 11th Session of the Standing Committee of the 10th NationalPeople's Congress of the People's Republic of China on Amending the Company Lawof the People's Republic of China。 Revised for the third time at the 18thSession of the 10th National People's Congress of the People's Republic ofChina on October 27, 2005)

Contents

ChapterI General Provisions

ChapterII Establishment and Organizational Structure of A Limited Liability Company

Section1 Establishment

Section2 Organizational structure

Section3 Special Provisions on One-person Limited Liability Companies

Section4 Special Provisions on Wholly State-owned Companies

ChapterIII Transfer of Stock Right of A Limited Liability Company

ChapterIV Establishment and Organizational Structure of A Joint Stock Limited Company

Section1 Establishment

Section2 Shareholders' Assembly

Section3 Board of Directors, Managers

Section4 Board of Supervisors

Section5 Special Provisions on the Organizational Structure of A Listed Company

ChapterV Issuance and Transfer of Shares of A Joint Stock Limited Company

Section1 Issuance of Shares

Section2 Transfer of Shares

ChapterVI Qualifications and Obligations of the Directors, Supervisors and SeniorManagers of A Company

ChapterVII Corporate Bonds

ChapterVIII Financial Affairs and Accounting of A Company

ChapterIX Merger and Split-up of Company; Increase and Deduction of Registered Capital

ChapterX Dissolution and Liquidation of A Company

ChapterXI Branches of Foreign Companies

ChapterXII Legal Liabilities

ChapterXIII Supplementary Provisions

目录

  第一章 总则

  第二章 有限责任公司的设立和组织机构

  第一节 设立

  第二节 组织机构

  第三节 一人有限责任公司的特别规定

  第四节 国有独资公司的特别规定

  第三章 有限责任公司的股权转让

  第四章 股份有限公司的设立和组织机构

  第一节 设立

  第二节 股东大会

  第三节 董事会、经理

  第四节 监事会

  第五节 上市公司组织机构的特别规定

  第五章 股份有限公司的股份发行和转让

  第一节 股份发行

  第二节 股份转让

  第六章 公司董事、监事、高级管理人员的资格和义务

  第七章 公司债券

  第八章 公司财务、会计

  第九章 公司合并、分立、增资、减资

  第十章 公司解散和清算

  第十一章 外国公司的分支机构

  第十二章 法律责任

  第十三章 附则

ChapterI General Provisions

第一章 总则

Article 1 This Law is enacted for the purposesof regulating the organization and operation of companies, protecting thelegitimate rights and interests of companies, shareholders and creditors,maintaining the socialist economic order, and promoting the development of thesocialist market economy

  第一条 【立法目的】为了规范公司的组织和行为,保护公司、股东和债权人的合法权益,维护社会经济秩序,促进社会主义市场经济的发展,制定本法。

Article 2 The term "company" asmentioned in this Law refers to a limited liability company or a joint stockcompany limited set up within the territory of the People's Republic of Chinaaccording to the provisions of this Law.

第二条 【调整对象】本法所称公司是指依照本法在中国境内设立的有限责任公司和股份有限公司。

Article3 A company is an enterprise legal person, which has independent legal personproperty and enjoys the right to legal person property。 It shall bear theliabilities for its debts with all its property。 For a limited liabilitycompany, a shareholder shall be liable for the company to the extent of thecapital contributions it has paid。 For a joint stock limited company, ashareholder shall be liable for the company to the extent of the shares it hassubscribed to。

  第三条 【公司的界定】公司是企业法人,有独立的法人财产,享有法人财产权。公司以其全部财产对公司的债务承担责任。

有限责任公司的股东以其认缴的出资额为限对公司承担责任;股份有限公司的股东以其认购的股份为限对公司承担责任。

Article 4 The shareholders of a company shallbe entitled to enjoy the capital proceeds, participate in making importantdecisions, choose managers and enjoy other rights.

第四条 【股东权利】公司股东依法享有资产收益、参与重大决策和选择管理者等权利。

Article 5 When conducting business operations,a company shall comply with the laws and administrative regulations, socialmorality, and business morality. It shall act in good faith, accept thesupervision of the government and general public, and bear socialresponsibilities.

Thelegitimate rights and interests of a company shall be protected by laws and maynot be trespassed.

  第五条 【合法经营和合法权益受保护】公司从事经营活动,必须遵守法律、行政法规,遵守社会公德、商业道德,诚实守信,接受政府和社会公众的监督,承担社会责任。

公司的合法权益受法律保护,不受侵犯。


Article 6 To establish a company, anapplication for establishment registration shall be filed with the companyregistration authority. If the application meets the establishment requirementsof this Law, the company registration authority shall register the company as alimited liability company or joint stock limited company. If the applicationdoes not meet the establishment requirements of this Law, it shall not beregistered as a limited liability company or joint stock limited company.

If anylaw or administrative regulation provides that the establishment of a companyshall be subject to approval, and relevant approval formalities shall be gonethrough prior to the registration of the company.

Thegeneral public may go to a company registration authority to search and consultthe registration information filed by a company and the authority shall providethe research services for the public.

  第六条 【公司设立的准则主义】设立公司,应当依法向公司登记机关申请设立登记。符合本法规定的设立条件的,由公司登记机关分别登记为有限责任公司或者股份有限公司;不符合本法规定的设立条件的,不得登记为有限责任公司或者股份有限公司。

  法律、行政法规规定设立公司必须报经批准的,应当在公司登记前依法办理批准手续。

公众可以向公司登记机关申请查询公司登记事项,公司登记机关应当提供查询服务。

Article 7 For a lawfully established company,the company registration authority shall issue a company business license tothe company. The date of issuance of the company business license shall be thedate of establishment of the company. The company business license shall statethe name, domicile, registered capital, actually paid capital, business scope,legal representative, etc. If any of the items as stated in the businesslicense is changed, the company shall modify the registration and the company registrationauthority shall replace its old business license by a new one.

  第七条 【公司营业执照】依法设立的公司,由公司登记机关发给公司营业执照。公司营业执照签发日期为公司成立日期。

  公司营业执照应当载明公司的名称、住所、注册资本、实收资本、经营范围、法定代表人姓名等事项。

  公司营业执照记载的事项发生变更的,公司应当依法办理变更登记,由公司登记机关换发营业执照。

Article 8 A limited liability companyestablished according to this Law shall include the words of "limitedliability company" or "limited company" in its name. A jointstock limited company established according to this Law shall include words of"joint stock limited company" or "joint stock company".

  第八条 【公司的名称】依照本法设立的有限责任公司,必须在公司名称中标明有限责任公司或者有限公司字样。

  依照本法设立的股份有限公司,必须在公司名称中标明股份有限公司或者股份公司字样。

Article 9 A limited liability company to bechanged into a joint stock limited company shall satisfy the requirements asprescribed in this Law for joint stock limited companies。 A joint stock limitedcompany to be changed into a limited liability company shall conform to theconditions as prescribed in this Law for limited liability companies。 In eitherof the aforesaid cases, the creditor's rights and debts of the company prior tothe change shall be succeeded by the company after the change。

  第九条 【公司形式变更的准则主义与债权债务承继】有限责任公司变更为股份有限公司,应当符合本法规定的股份有限公司的条件。股份有限公司变更为有限责任公司,应当符合本法规定的有限责任公司的条件。

  有限责任公司变更为股份有限公司的,或者股份有限公司变更为有限责任公司的,公司变更前的债权、债务由变更后的公司承继。

Article 10 A company shall regard its mainoffice as its domicile。

  第十条 【公司的住所】公司以其主要办事机构所在地为住所。

Article 11 A company established according tothis Law shall formulate its bylaw that are binding on the company, itsshareholders, directors, supervisors and senior managers。

  第十一条 【公司的章程】设立公司必须依法制定公司章程。公司章程对公司、股东、董事、监事、高级管理人员具有约束力。

Article 12 A company's business scope shall bedefined in its bylaw and shall be registered according to law. The company maychange its business scope by modifying its bylaw, but it shall go through theformalities for modifying the registration.

If thebusiness scope a company covers any item subject to approval pursuant to anylaw or administrative regulation, approval shall be obtained according to thelaw。

  第十二条 【公司的经营范围】公司的经营范围由公司章程规定,并依法登记。公司可以修改公司章程,改变经营范围,但是应当办理变更登记。

  公司的经营范围中属于法律、行政法规规定须经批准的项目,应当依法经过批准。

Article 13 The legal representative of acompany shall, be assumed by the chairman of the board of directors, actingdirector or manager according to the company's bylaw and shall be registeredaccording to law. If the legal representative of the company is changed, thecompany shall go through the formalities for modifying the registration.

  第十三条 【公司法定代表人】公司法定代表人依照公司章程的规定,由董事长、执行董事或者经理担任,并依法登记。公司法定代表人变更,应当办理变更登记。

Article 14 A company may set up branches. Toset up a branch, the company shall file a registration application with thecompany registration authority and shall obtain a business license. A branchshall not enjoy the status of an enterprise legal person and its civilliabilities shall be born by its parent company.

Acompany may set up subsidiaries which enjoy the status of an enterprise legalperson and shall be independently responsible for their own civil liabilities.

  第十四条 【分公司与子公司】公司可以设立分公司。设立分公司,应当向公司登记机关申请登记,领取营业执照。分公司不具有法人资格,其民事责任由公司承担。

  公司可以设立子公司,子公司具有法人资格,依法独立承担民事责任。

Article 15 A company may invest in otherenterprises. However, unless it is otherwise provided for by any law, it shallnot become a capital contributor that shall bear several and joint liabilitiesfor the debts of the enterprises in which it invests.

  第十五条 【公司的转投资及其限制】公司可以向其他企业投资;但是,除法律另有规定外,不得成为对所投资企业的债务承担连带责任的出资人。

Article 16 Where a company intends to investin any other enterprise or provide guaranty for others, the company shall makea resolution through the board of directors, shareholders' meeting orshareholders' assembly according to its bylaw. If the bylaw prescribe any limiton the total amount of investments or guaranties, or on the amount of a singleinvestment or guaranty, the aforesaid total amount or amount shall not exceedthe limited amount. If a company intends to provide guaranty to a shareholderor actual controller of the company, it shall make a resolution through theshareholder's meeting or shareholders' assembly.

Theshareholder as mentioned in the preceding paragraph or the shareholderdominated by the actual controller as mentioned in the preceding paragraphshall not participate in voting on the matter as mentioned in the precedingparagraph. Such matter requires the affirmative votes of more than half of theother shareholders attending the meeting.

  第十六条 【公司转投资及提供担保的程序规定】公司向其他企业投资或者为他人提供担保,依照公司章程的规定,由董事会或者股东会、股东大会决议;公司章程对投资或者担保的总额及单项投资或者担保的数额有限额规定的,不得超过规定的限额。

  公司为公司股东或者实际控制人提供担保的,必须经股东会或者股东大会决议。

  前款规定的股东或者受前款规定的实际控制人支配的股东,不得参加前款规定事项的表决。该项表决由出席会议的其他股东所持表决权的过半数通过。

Article 17 Every company shall protect thelawful rights and interests of its employees, sign employment contracts withits employees, buy social insurances, and strengthen labor protection so as toensure work safety.

Everycompany shall, in various forms, intensify the professional education andin-service training of its employees so as to improve their personal quality。

  第十七条 【公司的劳动保护等义务】公司必须保护职工的合法权益,依法与职工签订劳动合同,参加社会保险,加强劳动保护,实现安全生产。

  公司应当采用多种形式,加强公司职工的职业教育和岗位培训,提高职工素质。

Article 18 The employees of a company shall,according to the Labor Union Law of the People's Republic of China, organize alabor union, which shall carry out union activities and safeguard the lawfulrights and interests of the employees. The company shall provide necessaryconditions for its labor union to carry out activities. The labor union shall,on behalf of the employees, sign collective contracts with the company withrespect to the remuneration, working hours, welfare, insurance, work safety andsanitation, and other matters.

Inaccordance with the Constitution and other relevant laws, a company shall adoptdemocratic management in the form of assembly of the representatives of theemployees or any other ways.

Tomake a decision on restructuring or any important issue relating to businessoperations, or to formulate any important bylaw, a company shall solicit theopinions of its labor union, and shall solicit the opinions and proposals ofthe employees through the assembly of the representatives of the employees orin any other way.

  第十八条 【公司的工会及民主管理】公司职工依照《中华人民共和国工会法》组织工会,开展工会活动,维护职工合法权益。公司应当为本公司工会提供必要的活动条件。公司工会代表职工就职工的劳动报酬、工作时间、福利、保险和劳动安全卫生等事项依法与公司签订集体合同。

  公司依照宪法和有关法律的规定,通过职工代表大会或者其他形式,实行民主管理。

  公司研究决定改制以及经营方面的重大问题、制定重要的规章制度时,应当听取公司工会的意见,并通过职工代表大会或者其他形式听取职工的意见和建议。

Article 19 The Chinese Communist Party may,according to the Constitution of the Chinese Communist Party, establish itsbranches in companies to carry out activities of the Chinese Communist Party.The company shall provide necessary conditions to facilitate the activities ofthe Party.

  第十九条 【公司中的中国共产党组织】在公司中,根据中国共产党章程的规定,设立中国共产党的组织,开展党的活动。公司应当为党组织的活动提供必要条件。

Article 20 The shareholders of a company shallabide by the laws, administrative regulations and bylaw and shall exercise theshareholder's rights under the law。 None of them may injure any of theinterests of the company or of other shareholders by abusing the shareholder'srights, or injure the interests of any creditor of the company by abusing theindependent status of legal person or the shareholder's limited liabilities。

Whereany of the shareholders of a company causes any loss to the company or to othershareholders by abusing the shareholder's rights, it shall be liable forcompensation。

Whereany of the shareholders of a company evades the payment of its debts by abusingthe independent status of legal person or the shareholder's limitedliabilities, if it seriously injures the interests of any creditor, it shallbear several and joint liabilities for the debts of the company.

  第二十条 【股东滥用权利的责任】公司股东应当遵守法律、行政法规和公司章程,依法行使股东权利,不得滥用股东权利损害公司或者其他股东的利益;不得滥用公司法人独立地位和股东有限责任损害公司债权人的利益。

  公司股东滥用股东权利给公司或者其他股东造成损失的,应当依法承担赔偿责任。

  公司股东滥用公司法人独立地位和股东有限责任,逃避债务,严重损害公司债权人利益的,应当对公司债务承担连带责任。

Article 21 Neither the controllingshareholder, nor the actual controller, nor any of the directors, supervisorsor senior management of the company may injure the interests of the company bytaking advantage of its connection relationship. Anyone who causes any loss tothe company due to violating the preceding paragraph shall be liable for thecompensation.

  第二十一条 【禁止关联行为】公司的控股股东、实际控制人、董事、监事、高级管理人员不得利用其关联关系损害公司利益。

  违反前款规定,给公司造成损失的,应当承担赔偿责任。

Article 22 A resolution of the shareholders'meeting, shareholders' assembly or board of directors of the company that is inviolation of any law or administrative regulation shall be null and void.

If theprocedures for calling a shareholders' meeting or shareholders' assembly, ormeeting of the board of directors, or the voting form, is in violation of anylaw, administrative regulation or the bylaw, or if a resolution is in violationof the bylaw of the company, the shareholders may, within 60 days from the daywhen the resolution is made, request the people's court to revoke it.

If theshareholders initiate a lawsuit under the preceding paragraph, the people'scourt shall, at the request of the company, demand the shareholders to providecorresponding guaranty.

Wherea company has, according to the resolution of the shareholders' meeting,shareholders' assembly or meeting of the board of directors, completed themodification registration, if the people's court declares the resolution nulland void or revoke the resolution, the company shall file an application withthe company registration authority for revoking the modification registration.

  第二十二条 【无效决议及其法律后果】公司股东会或者股东大会、董事会的决议内容违反法律、行政法规的无效。

  股东会或者股东大会、董事会的会议召集程序、表决方式违反法律、行政法规或者公司章程,或者决议内容违反公司章程的,股东可以自决议作出之日起六十日内,请求人民法院撤销。

  股东依照前款规定提起诉讼的,人民法院可以应公司的请求,要求股东提供相应担保。

  公司根据股东会或者股东大会、董事会决议已办理变更登记的,人民法院宣告该决议无效或者撤销该决议后,公司应当向公司登记机关申请撤销变更登记。

ChapterII Establishment and Organizational structure of A Limited Liability Company

第二章 有限责任公司的设立和组织机构

Section1 Establishment

第一节 设立

Article 23 The establishment of a limitedliability company shall meet the following conditions:

(1)Thenumber of shareholders constitutes the quorum;

(2)Theamount of capital contributions paid by the shareholders reaches the statutoryminimum amount of the registered capital;

(3)Theshareholders jointly work out the bylaw;

(4)Thecompany has a name and its organizational structure complies with that of alimited liability company; and

(5)Thecompany has a domicile.

  第二十三条 【有限责任公司的设立条件】设立有限责任公司,应当具备下列条件:

  (一)股东符合法定人数;

  (二)股东出资达到法定资本最低限额;

  (三)股东共同制定公司章程;

  (四)有公司名称,建立符合有限责任公司要求的组织机构;

  (五)有公司住所。

Article 24 A limited liability company shallbe established by no more than 50 shareholders that make capital contributions.

  第二十四条 【有限责任公司的股东人数限制】有限责任公司由五十个以下股东出资设立。

Article 25 A limited liability company shallstate the following items:

(1)Thename and domicile of the company;

(2)Business Scope of the company;

(3)Registeredcapital of the company;

(4)Namesof shareholders;

(5)Forms, amount and date of capital contributions made by shareholders;

(6)Theorganizations of the company and its formation, their functions and rules ofprocedure;

(7)Legalrepresentative of the company;

(8)Othermatters deemed necessary by shareholders。

Theshareholders should affix their signatures or seals to the bylaw of thecompany.

  第二十五条 【有限责任公司章程的法定事项】有限责任公司章程应当载明下列事项:

  (一)公司名称和住所;

  (二)公司经营范围;

  (三)公司注册资本;

  (四)股东的姓名或者名称;

  (五)股东的出资方式、出资额和出资时间;

  (六)公司的机构及其产生办法、职权、议事规则;

  (七)公司法定代表人;

  (八)股东会会议认为需要规定的其他事项。

  股东应当在公司章程上签名、盖章。

Article 26 The registered capital of a limitedliability company shall be the total amount of capital contributions subscribedto by all the shareholders registered in the company registration authority。The amount of the initial capital contributions made by all shareholders shallnot be less than 20% of the registered capital, nor less than the statutoryminimum amount of registered capital, the margin shall be paid off by theshareholders within 2 years from the day when the company is established; foran investment company, it may be paid off within 5 years。 The minimum amount ofregistered capital of a limited liability company shall be RMB 30, 000 yuan。 Ifany law or administrative regulation prescribes a relatively higher minimumamount of registered capital of a limited liability company, the provisions ofthat law or administrative regulation shall be followed。

  第二十六条 【有限责任公司的注册资本及其最低限额】有限责任公司的注册资本为在公司登记机关登记的全体股东认缴的出资额。公司全体股东的首次出资额不得低于注册资本的百分之二十,也不得低于法定的注册资本最低限额,其余部分由股东自公司成立之日起两年内缴足;其中,投资公司可以在五年内缴足。

  有限责任公司注册资本的最低限额为人民币三万元。法律、行政法规对有限责任公司注册资本的最低限额有较高规定的,从其规定。

Article 27 A shareholder may make capitalcontributions in cash, in kind, or intellectual property right, land use right,or other non-monetary properties that may be assessed on the basis of currencyand may be transferred according to the law, excluding the properties thatshall not be treated as capital contributions under any law or administrativeregulation.

Thevalue of the non-monetary properties as capital contributions shall be assessedand verified, which shall not be over-valued or under-valued。 If any law oradministrative regulations provides for the value assessment, such law oradministrative regulation shall be followed。

Theamount of the capital contributions in cash paid by all the shareholders shallbe no less than 30% of the registered capital of the limited liability company.

  第二十七条 【股东出资方式、出资评估及其限制】股东可以用货币出资,也可以用实物、知识产权、土地使用权等可以用货币估价并可以依法转让的非货币财产作价出资;但是,法律、行政法规规定不得作为出资的财产除外。

  对作为出资的非货币财产应当评估作价,核实财产,不得高估或者低估作价。法律、行政法规对评估作价有规定的,从其规定。

  全体股东的货币出资金额不得低于有限责任公司注册资本的百分之三十。

Article 28 Each shareholder shall make fullpayment for the capital contributions he has subscribed to according to thebylaw。 If a shareholder makes his capital contribution in cash, he shalldeposit the full amount of such cash capital contribution into a temporary bankaccount opened for the limited liability company。 If any capital contributionsare made in non-monetary properties, the appropriate transfer procedures forthe property rights therein shall be followed according to law。

Wherea shareholder fails to make his capital contribution as specified in thepreceding paragraph, he shall not only make full payment to the company butalso bear the liabilities for breach of contract to the shareholders who havemake full payment of capital contributions on schedule.

  第二十八条 【股东出资义务的履行和出资违约】股东应当按期足额缴纳公司章程中规定的各自所认缴的出资额。股东以货币出资的,应当将货币出资足额存入有限责任公司在银行开设的账户;以非货币财产出资的,应当依法办理其财产权的转移手续。

  股东不按照前款规定缴纳出资的,除应当向公司足额缴纳外,还应当向已按期足额缴纳出资的股东承担违约责任。

Article 29 The capital contributions made bythe shareholders shall be verified by a lawfully established capitalverification institution and the institute shall issue a certification to provethe contribution。

  第二十九条 【股东出资的验资证明】股东缴纳出资后,必须经依法设立的验资机构验资并出具证明。

Article 30 After the initial capitalcontributions made by the shareholders have been verified by a lawfullyestablished capital verification institution, the representative designated byall the shareholders or the agent entrusted by all the shareholders shall applyfor establishment registration by submitting a company registrationapplication, bylaw, capital verification and other documents to the companyregistration authority。

  第三十条 【有限责任公司的设立登记】股东的首次出资经依法设立的验资机构验资后,由全体股东指定的代表或者共同委托的代理人向公司登记机关报送公司登记申请书、公司章程、验资证明等文件,申请设立登记。

Article 31 After the establishment of alimited liability company, if the actual value of the capital contributions innon-monetary properties is found to be apparently lower than that set forth inthe bylaw of the company, the difference shall be made up by the shareholderwho offered them, and the other shareholders of the company who established thecompany shall bear several and joint liabilities。

  第三十一条 【非货币财产出资违约责任】有限责任公司成立后,发现作为设立公司出资的非货币财产的实际价额显著低于公司章程所定价额的,应当由交付该出资的股东补足其差额;公司设立时的其他股东承担连带责任。

Article 32 After the establishment of alimited liability company, each shareholder shall be issued a capitalcontribution certificate, which shall specify the following:

(1)The name of the company;

(2)The date of establishment of the company;

(3)The company's registered capital;

(4)The name of the shareholder, the amount of his capital contribution, and theday when the capital contribution is made; and

(5)The serial number and date of issuance of the capital contribution certificate.The capital contribution certificate shall bear the seal of the company.

  第三十二条 【股东出资证明书】有限责任公司成立后,应当向股东签发出资证明书。

  出资证明书应当载明下列事项:

  (一)公司名称;

  (二)公司成立日期;

  (三)公司注册资本;

  (四)股东的姓名或者名称、缴纳的出资额和出资日期;

  (五)出资证明书的编号和核发日期。

  出资证明书由公司盖章。

Article 33 A limited liability company shallprepare a registry of shareholders and the registry shall record the followinginformation:

(1)Thenames of all shareholders and their domiciles thereof;

(2)Theamount of capital contributions made by each shareholder;

(3)Theserial numbers for all capital contribution certificates.

Theshareholders recorded in the registry of shareholders may, pursuant to theregistry of shareholders, claim to and exercise the shareholder's rights。

Acompany shall register each shareholder's name and its amount of capitalcontributions in the company registration authority。 Where any of theregistered items is changed, the company shall modify the registration。 If thecompany fails to do so, it shall not, on the basis of the unregistered orun-modified registration item, stand up to any third party。

  第三十三条 【股东名册】有限责任公司应当置备股东名册,记载下列事项:

  (一)股东的姓名或者名称及住所;

  (二)股东的出资额;

  (三)出资证明书编号。

  记载于股东名册的股东,可以依股东名册主张行使股东权利。

  公司应当将股东的姓名或者名称及其出资额向公司登记机关登记;登记事项发生变更的,应当办理变更登记。未经登记或者变更登记的,不得对抗第三人。

Article 34 Every shareholder shall be entitledto review and duplicate the company's bylaw, the minutes of the shareholders'meetings, the resolutions of the board of directors' meetings, the resolutionsof the board of supervisors' meetings, as well as the financial reports。

Everyshareholder may request to review the accounting books of the company。 Where ashareholder requests to review the accounting books of the company, it shallsubmit a written request, which shall state his motives。 If the company, hasthe legitimate reason to believe that the shareholder's requests to review theaccounting books has an improper motive and may impair the legitimate interestsof the company, it may reject the request of the shareholder to review thebooks and shall, within in 15 days after the shareholder submits a writtenrequest, give the shareholder a written reply, which shall include anexplanation。 If the company reject the request of any shareholder to review theaccounting books, the shareholder may plead a people's court to demand thecompany to open the books for his review。

  第三十四条 【股东的查阅权】股东有权查阅、复制公司章程、股东会会议记录、董事会会议决议、监事会会议决议和财务会计报告。

  股东可以要求查阅公司会计账簿。股东要求查阅公司会计账簿的,应当向公司提出书面请求,说明目的。公司有合理根据认为股东查阅会计账簿有不正当目的,可能损害公司合法利益的,可以拒绝提供查阅,并应当自股东提出书面请求之日起十五日内书面答复股东并说明理由。公司拒绝提供查阅的,股东可以请求人民法院要求公司提供查阅。

Article 35 Shareholders shall be distributedwith the dividends based on the percentages of the capital that they actuallycontributed。 When a company is going to increase the capital, its shareholdershave the preemptive right to subscribe to the new capitals based on the samepercentages of the old capital that they contributed。 The exception shall begiven if all shareholders agree that they will not be distributed with thedividends or have the preemptive right to subscribe to the new capitals basedon the percentages of the old capital that they contributed。

  第三十五条 【股东分红权和优先认购权】股东按照实缴的出资比例分取红利;公司新增资本时,股东有权优先按照实缴的出资比例认缴出资。但是,全体股东约定不按照出资比例分取红利或者不按照出资比例优先认缴出资的除外。

Article 36 After the establishment of acompany, no shareholder may illegally take away the registered capital.

  第三十六条 【股东不得抽回出资】公司成立后,股东不得抽逃出资。

Section2 Organization Structure

第二节 组织机构

Article 37 The shareholders' meeting of alimited liability company shall be composed of all the shareholders. It is theauthority of the company and shall exercise its powers according to this Law.

  第三十七条 【股东会】有限责任公司股东会由全体股东组成。股东会是公司的权力机构,依照本法行使职权。

Article 38 The shareholders' meeting shallexercise the following functions:

(1)Determining the company's operational guidelines and investment plans;

(2)Electing and changing the directors and supervisors assumed bynon-representatives of the employees and deciding the matters relating to theirsalaries and compensations;

(3)Deliberating and approving reports of the board of directors;

(4)Deliberating and approving reports of the board of supervisors or thesupervisor;

(5)Deliberating and approving annual financial budget plans and final accountplans of the company;

(6)Deliberating and approving company profit distribution plans and loss recoveryplans;

(7)Making resolutions about the increase or reduction of the company's registeredcapital;

(8)Making resolutions about the issuance of corporate bonds;

(9)Adopting resolutions about the assignment, split-up, change of company form,dissolution, liquidation of the company;

(10)Revising the bylaw of the company;

(11)Other functions as specified in the bylaw.

If allthe shareholders consent to any of the matters listed in the precedingparagraph by writing , they do not need to hold a shareholders' meeting and maymade decisions and have the decisions signed and sealed by all theshareholders.

  第三十八条 【股东会的职权】股东会行使下列职权:

  (一)决定公司的经营方针和投资计划;

  (二)选举和更换非由职工代表担任的董事、监事,决定有关董事、监事的报酬事项;

  (三)审议批准董事会的报告;

  (四)审议批准监事会或者监事的报告;

  (五)审议批准公司的年度财务预算方案、决算方案;

  (六)审议批准公司的利润分配方案和弥补亏损方案;

  (七)对公司增加或者减少注册资本作出决议;

  (八)对发行公司债券作出决议;

  (九)对公司合并、分立、解散、清算或者变更公司形式作出决议;

  (十)修改公司章程;

  (十一)公司章程规定的其他职权。

  对前款所列事项股东以书面形式一致表示同意的,可以不召开股东会会议,直接作出决定,并由全体股东在决定文件上签名、盖章。

Article 39 The first shareholders' meetingshall be convened and presided over by the shareholder who made the largestcapital contributions, and he shall exercise his powers according to this Law.

  第三十九条 【股东会的首次会议】首次股东会会议由出资最多的股东召集和主持,依照本法规定行使职权。

Article 40 The shareholders' meetings shall beclassified into regular meetings and interim meetings. The regular meetingsshall be timely held according to the bylaw. Where an interim meeting isproposed by the shareholders representing 1/10 of the voting rights or more, orby directors representing 1/3 of the voting rights or more, or by the board ofsupervisors, or by the supervisors of the company with no board of supervisors,an interim meeting shall be held.

  第四十条 【股东会的会议制度】股东会会议分为定期会议和临时会议。

  定期会议应当依照公司章程的规定按时召开。代表十分之一以上表决权的股东,三分之一以上的董事,监事会或者不设监事会的公司的监事提议召开临时会议的,应当召开临时会议。

Article 41 Where a limited liability companyhas set up a board of directors。 The shareholders' meetings shall be convenedby the board of directors and presided over by the chairman of the board ofdirectors。 If the chairman is unable or fails to perform his duties, themeetings thereof shall be presided over by the deputy chairman of the board ofdirectors。 If the deputy chairman of the board of directors is unable or failsto perform his duties, the meetings shall be presided over by a directorjointly recommended by half or more of the directors。

For alimited liability company with no board of directors, the shareholders'meetings shall be convened and presided over by the acting director。

If theboard of directors or the acting director is unable or fails to fulfill theduties of convening the shareholders' meeting, the board of supervisors or thesupervisor of the company with no board of supervisors may convene and preside oversuch meetings. If the board of supervisors or supervisor does not convene orpreside over such meetings, the shareholders representing 1 / 10 or more of thevoting rights may convene and preside over such meetings on their owninitiatives.

  第四十一条 【股东会会议的召集与组织】有限责任公司设立董事会的,股东会会议由董事会召集,董事长主持;董事长不能履行职务或者不履行职务的,由副董事长主持;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事主持。

  有限责任公司不设董事会的,股东会会议由执行董事召集和主持。

  董事会或者执行董事不能履行或者不履行召集股东会会议职责的,由监事会或者不设监事会的公司的监事召集和主持;监事会或者监事不召集和主持的,代表十分之一以上表决权的股东可以自行召集和主持。

Article 42 Every shareholder shall be given anotice 15 days before a shareholders' meeting is held unless it is otherwisespecified by the bylaw or it is otherwise stipulated by all the shareholders.

Ashareholders' meeting shall make the minutes for the decisions about the mattersdiscussed at the meeting. The shareholders who attended the meeting shall affixtheir signatures to the minutes.

  第四十二条 【股东会会议的通知期限和会议记录】召开股东会会议,应当于会议召开十五日前通知全体股东;但是,公司章程另有规定或者全体股东另有约定的除外。

  股东会应当对所议事项的决定作成会议记录,出席会议的股东应当在会议记录上签名。

Article 43 The shareholders shall exercisetheir voting rights at the shareholders' meetings based on their respectivepercentage of the capital contributions unless it is otherwise prescribed bythe bylaw.

  第四十三条 【股东的表决权】股东会会议由股东按照出资比例行使表决权;但是,公司章程另有规定的除外。

Article 44 Unless it is otherwise provided forby this Law, the discussion methods and voting procedures of the shareholders'meeting shall be provided for in the bylaw.

Aresolution made at a shareholders' meeting on revising the bylaw, increasing orreducing the registered capital, merger, split-up, dissolution or change of thecompany form shall be adopted by the shareholders representing 2 / 3 or more ofthe voting rights。

  第四十四条 【股东会的议事方式和表决程序】股东会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

  股东会会议作出修改公司章程、增加或者减少注册资本的决议,以及公司合并、分立、解散或者变更公司形式的决议,必须经代表三分之二以上表决权的股东通过。

Article 45 The board of directors establishedby a limited liability company shall be composed of 3 up to 13 members unlessit is otherwise provided by Article 51 of this Law.

If alimited liability company established by 2 or more state-owned enterprises orother state-owned investors, the board of directors shall includerepresentatives of the employees of the companies. The board of directors ofany other limited liability company may also include representatives of theemployees of the company concerned. The employees' representatives who are toserve as board directors shall be democratically elected by the employees ofthe company through the general assembly of the representatives of employees, employees'assembly of the company or in any other way. The board of directors shall haveone chairman and may have one or more deputy chairmen. The appointment of thechairman and deputy chair shall be specified in the bylaw.

  第四十五条 【董事会及其成员构成及董事长法律地位】有限责任公司设董事会,其成员为三人至十三人;但是,本法第五十一条另有规定的除外。

  两个以上的国有企业或者两个以上的其他国有投资主体投资设立的有限责任公司,其董事会成员中应当有公司职工代表;其他有限责任公司董事会成员中可以有公司职工代表。董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

  董事会设董事长一人,可以设副董事长。董事长、副董事长的产生办法由公司章程规定。

Article 46 The term of office of the directorsshall be provided for by the bylaw, but each term of office shall not exceed 3years. The directors may, after the expiry of their term of office, hold aconsecutive term upon re-election. If no reelection is timely carried out afterthe expiry of the term of office of the directors, or if the number of themembers of the board of directors is less than the quorum due to theresignation of some directors from the board of directors prior to the expiryof their term of office, the original directors shall, before the newly electeddirectors assume their posts, perform the powers of the directors according tothe laws, administrative regulations, as well as the bylaw.

  第四十六条 【董事的任职期限】董事任期由公司章程规定,但每届任期不得超过三年。董事任期届满,连选可以连任。

  董事任期届满未及时改选,或者董事在任期内辞职导致董事会成员低于法定人数的,在改选出的董事就任前,原董事仍应当依照法律、行政法规和公司章程的规定,履行董事职务。

Article 47 The board of directors shall beresponsible for the shareholders' meeting and exercise the following functions:

(1)Convening shareholders' meetings and presenting reports thereto;

(2)Implementing the resolutions made at the shareholders' meetings;

(3)Determining the company's business and investment plans;

(4)Working out the company's annual financial budget plans and final accountplans;

(5)Working out the company's profit distribution plans and loss recovery plans;

(6)Working out the company's plans on the increase or reduction of registeredcapital, as well as on the issuance of corporate bonds;

(7)Working out the company's plans on merger, split, change of the company form,or dissolution, etc。;

(8)Making decisions on the establishment of the company's internal managementdepartments;

(9)Making decisions on hiring or dismissing the company's manager and his salaryand compensation, and, according to the nomination of the manager, deciding onthe hiring or dismissal of vice manager(s) and the persons in charge of financeas well as their salaries and compensations;

(10)Working out the company's basic management system; and

(11)Other functions as specified in the bylaw.

  第四十七条 【董事会的职权】董事会对股东会负责,行使下列职权:

  (一)召集股东会会议,并向股东会报告工作;

  (二)执行股东会的决议;

  (三)决定公司的经营计划和投资方案;

  (四)制订公司的年度财务预算方案、决算方案;

  (五)制订公司的利润分配方案和弥补亏损方案;

  (六)制订公司增加或者减少注册资本以及发行公司债券的方案;

  (七)制订公司合并、分立、解散或者变更公司形式的方案;

  (八)决定公司内部管理机构的设置;

  (九)决定聘任或者解聘公司经理及其报酬事项,并根据经理的提名决定聘任或者解聘公司副经理、财务负责人及其报酬事项;

  (十)制定公司的基本管理制度;

  (十一)公司章程规定的其他职权。

Article 48 A meeting of the board of directorsshall be convened and presided over by the chairman of the board of directors.If the chairman of the board of directors is unable or fails to perform hisduties, it may be convened or presided over by the deputy chairman of the boardof directors. If the deputy chairman of the board of directors is unable orfails to perform his duties, it may be convened or presided over by a directorwhom is jointly recommended by half or more of the directors.

  第四十八条 【董事会会议的召集和主持】董事会会议由董事长召集和主持;董事长不能履行职务或者不履行职务的,由副董事长召集和主持;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事召集和主持。

Article 49 Unless it is otherwise provided forby this Law, the discussion methods and voting procedures of the board ofdirectors shall be specified by the bylaw.

Theboard of directors shall make minutes of the decisions about the mattersdiscussed at the meetings thereof. The shareholders who attend the meetingshall affix their signatures to the minutes.

In thevoting on a resolution of the board of directors, every director shall have onevote.

  第四十九条 【董事会的议事方式和表决程序】董事会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

  董事会应当对所议事项的决定作成会议记录,出席会议的董事应当在会议记录上签名。

  董事会决议的表决,实行一人一票。

Article 50 A limited liability company mayhave a manager, who shall be hired or dismissed upon decision of the board ofdirectors. The manager shall be responsible for the board of directors andshall exercise the following powers:

(1)Takingcharge of the management of the production and business operations of thecompany, organizing the implementation of the resolutions of the board ofdirectors;

(2)Organizingthe execution of the company's annual business plans and investment plans;

(3)Draftingplans on the establishment of the company's internal management departments;

(4)Draftingthe company's basic management system;

(5)Formulatingthe company's specific rules and policies;

(6)Proposingto hire or dismiss the company's vice manager(s) and the person in charge offinance;

(7)Decidingon the hiring or dismissal of the persons-in-charge other than those who shallbe decided by the board of directors; and

(8)Otherpowers conferred by the board of directors.

If thebylaw provides otherwise for the powers of managers, the bylaw shall befollowed. The manager attends the meetings of the board of directors as anon-voting representative.

  第五十条 【经理的职权】有限责任公司可以设经理,由董事会决定聘任或者解聘。经理对董事会负责,行使下列职权:

  (一)主持公司的生产经营管理工作,组织实施董事会决议;

  (二)组织实施公司年度经营计划和投资方案;

  (三)拟订公司内部管理机构设置方案;

  (四)拟订公司的基本管理制度;

  (五)制定公司的具体规章;

  (六)提请聘任或者解聘公司副经理、财务负责人;

  (七)决定聘任或者解聘除应由董事会决定聘任或者解聘以外的负责管理人员;

  (八)董事会授予的其他职权。

  公司章程对经理职权另有规定的,从其规定。

  经理列席董事会会议。

Article 51 For a limited liability companywith a relatively small number of shareholders or for a relatively smalllimited liability company, it may have an acting director and no board ofdirectors. The acting director may concurrently hold the post of the company'smanger.

Thepowers of the acting director shall be specified in the bylaw.

  第五十一条 【执行董事】股东人数较少或者规模较小的有限责任公司,可以设一名执行董事,不设董事会。执行董事可以兼任公司经理。

  执行董事的职权由公司章程规定。

Article 52 A limited liability company may setup a board of supervisors, which shall be composed of at least 3 persons. For alimited liability company in which there is a relatively small number ofshareholders or which is relatively small in scale, it may have 1 or 2supervisors and does not have to establish a board of supervisors. The board ofsupervisors shall include shareholders' representatives and representatives ofthe employees' of the company at an appropriate ratio to be specificallyprescribed in the bylaw. The employees' representatives who are to serve asmembers of the board of supervisors shall be democratically elected by theemployees of the company through the assembly of the employees'representatives, or employees' assembly or by any other means. The board ofsupervisors shall have one chairman, who shall be elected by half or more ofall the supervisors. The chairman of the board of supervisors shall convene andpreside over the meetings of the board of supervisors. If the chairman ofsupervisors is unable or fails to perform his duties, the supervisorrecommended by half or more of the supervisors shall convene and preside overthe meetings of the board of supervisors.

Nodirector or senior manager may concurrently serve as a supervisor。

  第五十二条 【监事会和监事】有限责任公司设监事会,其成员不得少于三人。股东人数较少或者规模较小的有限责任公司,可以设一至二名监事,不设监事会。

  监事会应当包括股东代表和适当比例的公司职工代表,其中职工代表的比例不得低于三分之一,具体比例由公司章程规定。监事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

  监事会设主席一人,由全体监事过半数选举产生。监事会主席召集和主持监事会会议;监事会主席不能履行职务或者不履行职务的,由半数以上监事共同推举一名监事召集和主持监事会会议。

  董事、高级管理人员不得兼任监事。

Article 53 Each term of office of thesupervisors shall be 3 years. The supervisors may, after the expiry of theirterm of office, hold a consecutive term upon reelection. If no reelection istimely carried out after the expiry of the term of office of the supervisors,or if the number of the members of the board of directors is less than thequorum due to the resignation of some directors from the board of supervisorsprior to the expiry of their term of office, the original supervisors shall,before the newly elected supervisors assume their posts, exercise the powers ofthe supervisors according to laws, administrative regulations, as well as thebylaw.

  第五十三条 【监事的任职期限】监事的任期每届为三年。监事任期届满,连选可以连任。

  监事任期届满未及时改选,或者监事在任期内辞职导致监事会成员低于法定人数的,在改选出的监事就任前,原监事仍应当依照法律、行政法规和公司章程的规定,履行监事职务。

Article 54 The board of supervisors orsupervisor of a company with no board of supervisors may exercise the followingpowers:

(1)Tocheck the financial affairs of the company;

(2)Tosupervise the duty-related acts of the directors and senior managers, to putforward proposals on the removal of any director or senior manager who violatesany law, administrative regulation, the bylaw or any resolution of theshareholders' meeting;

(3)Todemand any director or senior manager to make corrections if his act hasinjured the interests of the company;

(4)Topropose to call interim shareholders' meetings, to call and preside overshareholders' meetings when the board of directors does not exercise thefunction of calling and presiding over shareholders' meetings as prescribed inthis Law;

(5)Toput forward proposals at shareholders' meetings;

(6)Toinitiate actions against directors or senior managers according to

Article 152 of this Law; and

(7)Otherduties as provided for by the bylaw.

  第五十四条 【监事会或监事的一般职权】监事会、不设监事会的公司的监事行使下列职权:

  (一)检查公司财务;

  (二)对董事、高级管理人员执行公司职务的行为进行监督,对违反法律、行政法规、公司章程或者股东会决议的董事、高级管理人员提出罢免的建议;

  (三)当董事、高级管理人员的行为损害公司的利益时,要求董事、高级管理人员予以纠正;

  (四)提议召开临时股东会会议,在董事会不履行本法规定的召集和主持股东会会议职责时召集和主持股东会会议;

  (五)向股东会会议提出提案;

  (六)依照本法第一百五十二条的规定,对董事、高级管理人员提起诉讼;

  (七)公司章程规定的其他职权。

Article 55 The supervisors may attend themeetings of the board of directors as non-voting attendees, and may raisequestions or suggestions about the meeting agenda discussed by the board ofdirectors.

If theboard of supervisors or the supervisors of the company that does not have aboard of supervisors find that the company is running abnormally, they mayconduct an investigation. Where necessary, they may hire an accounting firm tohelp them with the investigation and the related expenses shall be born by thecompany.

  第五十五条 【监事的质询建议权与调查权】监事可以列席董事会会议,并对董事会决议事项提出质询或者建议。

  监事会、不设监事会的公司的监事发现公司经营情况异常,可以进行调查;必要时,可以聘请会计师事务所等协助其工作,费用由公司承担。

Article 56 The board of supervisors shall holdmeetings at least once a year. Any supervisors may propose to hold interimmeetings of the board of supervisors.

Thediscussion methods and voting procedures of the board of supervisors shall bespecified in the bylaw unless it is otherwise provided by this Law。

Aresolution of the board of supervisors shall be approved by more than half ofthe supervisors.

Theboard of supervisors shall scribe the minutes for the resolutions about theagenda and have the minutes signed by the supervisors in presence.

  第五十六条 【监事会会议】监事会每年度至少召开一次会议,监事可以提议召开临时监事会会议。

  监事会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

  监事会决议应当经半数以上监事通过。

  监事会应当对所议事项的决定作成会议记录,出席会议的监事应当在会议记录上签名。

Article 57 The expenses necessary for theboard of supervisors or the supervisor of a company that does not have a boardof supervisors to perform their duties shall be borne by the company.

  第五十七条 【监事行使职权的费用承担】监事会、不设监事会的公司的监事行使职权所必需的费用,由公司承担。

Section3 Special Provisions on One-person Limited Liability Companies

第三节 一人有限责任公司的特别规定

Article 58 The provisions of this Sectionshall apply to the establishment and the organizational structure of aone-person limited liability. For any matter not touched by this Section, itshall be governed by Sections 1 and 2 of this Chapter.

Theterm "one-person limited liability company" as mentioned in this Lawrefers to a limited liability company with only one natural person shareholderor legal person shareholder。

  第五十八条 【一人有限责任公司的定义、设立、组织机构】一人有限责任公司的设立和组织机构,适用本节规定;本节没有规定的,适用本章第一节、第二节的规定。

  本法所称一人有限责任公司,是指只有一个自然人股东或者一个法人股东的有限责任公司。

Article 59 The minimum amount of registeredcapital of a one-person limited liability company shall be RMB 100, 000 yuan.The shareholder shall, in a lump sum, pay the capital contributions as specifiedin the bylaw.

Onenatural person is allowed to establish merely an one-person limited liabilitycompany, which shall not establish any more one-person limited liabilitycompany.

  第五十九条 【一人有限责任公司的投资限制与注册资本最低限额】一人有限责任公司的注册资本最低限额为人民币十万元。股东应当一次足额缴纳公司章程规定的出资额。

  一个自然人只能投资设立一个一人有限责任公司。该一人有限责任公司不能投资设立新的一人有限责任公司。

Article 60 An one-person limited liabilitycompany shall, in the company registration, give a clear indication that it issolely-funded by one natural person or legal person and the same shall bespecified in the business license of the company.

  第六十条 【公司登记与营业执照中的投资者身份注明】一人有限责任公司应当在公司登记中注明自然人独资或者法人独资,并在公司营业执照中载明。

Article 61 The bylaw of an one-person limitedliability company shall be formulated by the shareholder.

  第六十一条 【一人有限责任公司的章程】一人有限责任公司章程由股东制定。

Article 62 An one-person limited liabilitycompany has no board of directors. When the shareholders make a decision on anyof the matters as listed in

Article 38 of this Law, he shall make it inwriting, sign it, and keep it in the company.

  第六十二条 【股东决定重大事项的书面形式要求】一人有限责任公司不设股东会。股东作出本法第三十八条第一款所列决定时,应当采用书面形式,并由股东签名后置备于公司。

Article 63 An one-person limited liabilitycompany shall make a financial report by the end of every fiscal year and havethe report audited by an accounting firm.

  第六十三条 【年度审计】一人有限责任公司应当在每一会计年度终了时编制财务会计报告,并经会计师事务所审计。

Article 64 If the shareholder of a one-personlimited liability company is unable to prove that the property of theone-person limited liability company is independent from his own property, heshall bear joint liabilities for the debts of the company.

  第六十四条 【股东对公司债务的连带责任】一人有限责任公司的股东不能证明公司财产独立于股东自己的财产的,应当对公司债务承担连带责任。

Section4 Special Provisions on Wholly State-owned Companies

第四节 国有独资公司的特别规定

Article 65 The provisions of this Chaptershall apply to the establishment and organizational structure of the wholly state-ownedcompanies。 Any matter not covered by this Chapter shall be governed by theprovisions of Sections 1 and 2 of this Chapter。

A"wholly state-owned company" as mentioned in this Law refers to alimited liability company invested wholly by the state, for which the StateCouncil or the local people's government authorizes the state-owned assetssupervision and administration institution of the people's government at thesame level to perform the functions of the capital contributor。

  第六十五条 【国有独资公司的定义】国有独资公司的设立和组织机构,适用本节规定;本节没有规定的,适用本章第一节、第二节的规定。

  本法所称国有独资公司,是指国家单独出资、由国务院或者地方人民政府授权本级人民政府国有资产监督管理机构履行出资人职责的有限责任公司。

Article 66 The bylaw of a wholly state-ownedcompany shall be formulated by the state-owned assets supervision andadministration institution, or shall be drafted by the board of directors andthen be submitted to the state-owned assets supervision and administrationinstitution for approval.

  第六十六条 【国有独资公司章程的制定或批准】国有独资公司章程由国有资产监督管理机构制定,或者由董事会制订报国有资产监督管理机构批准。

Article 67 Wholly state-owned companies do nothave shareholders' meetings。 The state-owned assets supervision andadministration institution shall exercise the functions of the shareholders'meeting。 The state-owned assets supervision and administration institution mayauthorize the company's board of directors to exercise some of the functions ofthe shareholders' meeting and decide on the important matters of the company,excluding those that must be decided by the state-owned assets supervision andadministration, such as merger, split-up, dissolution of the company, increaseor reduction of registered capital as well as the issuance of corporate bonds。For the merger, split-up, dissolution or application for bankruptcy of animportant wholly state-owned company, it shall, be subject to the examinationof the state-owned assets supervision and administration institution, and thenbe submitted to the people's government at the same level for approval。

Theterm "important wholly state-owned company" as mentioned in thepreceding paragraph shall be determined according to the provisions of theState Council。

  第六十七条 【国有独资公司重大事项的决定】国有独资公司不设股东会,由国有资产监督管理机构行使股东会职权。国有资产监督管理机构可以授权公司董事会行使股东会的部分职权,决定公司的重大事项,但公司的合并、分立、解散、增加或者减少注册资本和发行公司债券,必须由国有资产监督管理机构决定;其中,重要的国有独资公司合并、分立、解散、申请破产的,应当由国有资产监督管理机构审核后,报本级人民政府批准。

  前款所称重要的国有独资公司,按照国务院的规定确定。

Article 68 A wholly state-owned company shallestablish a board of directors, which shall exercise its functions according to

Articles 47 and 67 of this Law. Each term ofoffice of the directors shall not exceed 3 years. The board of directors shallinclude representatives of the employees. The members of the board of directorsshall be appointed by the state-owned assets supervision and administrationinstitution, but of whom the representatives of the employees shall be electedthrough the assembly of the representatives of the employees of the company.The board of directors shall have one chairman and may have deputy chairmen.The chairman and deputy chairmen shall be designated by the state-owned assetssupervision and administration institution from the members of the board ofdirectors.

  第六十八条 【国有独资公司的董事会】国有独资公司设董事会,依照本法第四十七条、第六十七条的规定行使职权。董事每届任期不得超过三年。董事会成员中应当有公司职工代表。

  董事会成员由国有资产监督管理机构委派;但是,董事会成员中的职工代表由公司职工代表大会选举产生。

  董事会设董事长一人,可以设副董事长。董事长、副董事长由国有资产监督管理机构从董事会成员中指定。

Article 69 A wholly state-owned company shallhave a manager, whom shall be hired or dismissed by the board of directors。 Themanager shall exercise his powers according to

Article 50 of this Law. Upon consent of thestate-owned assets supervision and administration institution, the members ofthe board of directors may concurrently hold the post of manager.

  第六十九条 【国有独资公司经理】国有独资公司设经理,由董事会聘任或者解聘。经理依照本法第五十条规定行使职权。

  经国有资产监督管理机构同意,董事会成员可以兼任经理。

Article 70 None of the chairman, deputychairmen, directors and senior managers of a wholly state-owned company mayconcurrently take up a post in any other limited liability company, joint stocklimited company or any other economic organization unless it is so consented bythe state-owned assets supervision and administration institution。

  第七十条 【高级职员的兼职禁止】国有独资公司的董事长、副董事长、董事、高级管理人员,未经国有资产监督管理机构同意,不得在其他有限责任公司、股份有限公司或者其他经济组织兼职。

Article 71 The board supervisors of a whollystate-owned company shall be composed of at least 5 members, of whom theemployees' representatives shall account for no less than 1/3, the specificpercentage shall be specified by the bylaw.

Themembers of the board of supervisors shall be appointed by the state-ownedassets supervision and administration institution, however, the employeerepresentative members of the board of supervisors shall be elected by theassembly of the employee representatives of the company. The chairman of the boardof supervisors shall be designated by the state-owned assets supervision andadministration institution from the members of the board of supervisors. Theboard of supervisions shall exercise the functions as mentioned in

Article 54 (1) through (3) of this Law andthose provided for by the State Council。

  第七十一条 【国有独资公司的监督管理】国有独资公司监事会成员不得少于五人,其中职工代表的比例不得低于三分之一,具体比例由公司章程规定。

  监事会成员由国有资产监督管理机构委派;但是,监事会成员中的职工代表由公司职工代表大会选举产生。监事会主席由国有资产监督管理机构从监事会成员中指定。

  监事会行使本法第五十四条第(一)项至第(三)项规定的职权和国务院规定的其他职权。

ChapterIII Transfer of Stock Right of A Limited Liability Company

第三章 有限责任公司的股权转让

Article 72 All or some of the stock rights ofthe shareholders of a limited liability company may be transferred among theshareholders。

Wherea shareholder intends to transfer his/its stock rights to any one other thanthe shareholders, he shall obtain the consent from more than half of the othershareholders。 The shareholder shall give the other shareholders a writtennotice about the matters related to the transfer of stock rights for theirconsent。 If any of the other shareholders fails to give it a reply within 30days after it receives a written notice, it shall be deemed to have consentedto the transfer。 If half or more of the other shareholders disagree to thetransfer, the shareholders who disagree to the transfer shall purchase thestock rights to be transferred。 If they refuse to purchase these stock rights,they shall be deemed to have consented to the transfer。 Under the same conditions,the other shareholders have a preemptive right to purchase the stock rights tobe transferred upon their consent。 If two or more shareholders claim thepreemptive right, they shall determine their respective purchase percentagethrough negotiation。 If they fail to reach an agreement during the negotiation,they shall exercise the preemptive right on the basis of their respectivepercentage of capital contributions。

Unlessit is otherwise provided for the transfer of stock rights in the bylaw, thebylaw shall be followed。

  第七十二条 【股权转让的一般规定】有限责任公司的股东之间可以相互转让其全部或者部分股权。

  股东向股东以外的人转让股权,应当经其他股东过半数同意。股东应就其股权转让事项书面通知其他股东征求同意,其他股东自接到书面通知之日起满三十日未答复的,视为同意转让。其他股东半数以上不同意转让的,不同意的股东应当购买该转让的股权;不购买的,视为同意转让。

  经股东同意转让的股权,在同等条件下,其他股东有优先购买权。两个以上股东主张行使优先购买权的,协商确定各自的购买比例;协商不成的,按照转让时各自的出资比例行使优先购买权。

  公司章程对股权转让另有规定的,从其规定。

Article 73 When the people's court transfersthe stock rights of a shareholder pursuant to the mandatory enforcementprocedure as provided in laws, the court shall notify the company and all theshareholders that the other shareholders have a preemptive right under the sameconditions. If any of the other shareholders fails to exercise the preemptiveright within 20 days after he/it receives the notice of the court, it shall bedeemed to have waived his preemptive right.

  第七十三条 【强制执行程序下的股权转让】人民法院依照法律规定的强制执行程序转让股东的股权时,应当通知公司及全体股东,其他股东在同等条件下有优先购买权。其他股东自人民法院通知之日起满二十日不行使优先购买权的,视为放弃优先购买权。

Article 74 After a company transfers its stockrights according to

Articles 72 and 73 of this Law, it shall cancelthe capital contribution certificate of the former shareholder, issue a capitalcontribution certificate to the new shareholder and modify the shareholders andtheir capital contributions in the bylaw and the registry of shareholders. Novoting of the shareholders' meeting is needed for the modification of the bylawregarding the transfer of stock rights.

  第七十四条 【股权转让对出资证明书、公司章程和股东名册的影响】依照本法第七十二条、第七十三条转让股权后,公司应当注销原股东的出资证明书,向新股东签发出资证明书,并相应修改公司章程和股东名册中有关股东及其出资额的记载。对公司章程的该项修改不需再由股东会表决。

Article 75 Under any of the followingcircumstances, a shareholder, who votes against the resolution of theshareholders' meeting, may request the company to purchase its stock rights ata reasonable price:

(1)Thecompany that has made profits for five consecutive years has failed todistribute any dividends to the shareholders for 5 consecutive years andconforms to the profit distribution conditions as prescribed in this Law;

(2)Thecompany is going to merge with others, to be split up, or transfer the majorproperties of the company to others;

(3)Whenthe business term as specified in the bylaw expires or other reasons fordissolution as prescribed in the bylaw occur, the shareholders' meeting makesthe company exist continuously by adopting a resolution to modify the bylaw。

Within60 days after the resolution is adopted at the shareholders' meeting, if theshareholder and the company fails to reach an agreement on the purchase ofstock rights, the shareholder may initiate a lawsuit in the people's courtwithin 90 days after the resolution is adopted at the shareholders' meeting.

  第七十五条 【异议股东请求公司收购股权的情形】有下列情形之一的,对股东会该项决议投反对票的股东可以请求公司按照合理的价格收购其股权:

  (一)公司连续五年不向股东分配利润,而公司该五年连续盈利,并且符合本法规定的分配利润条件的;

  (二)公司合并、分立、转让主要财产的;

  (三)公司章程规定的营业期限届满或者章程规定的其他解散事由出现,股东会会议通过决议修改章程使公司存续的。

  自股东会会议决议通过之日起六十日内,股东与公司不能达成股权收购协议的,股东可以自股东会会议决议通过之日起九十日内向人民法院提起诉讼。

Article 76 After the death of a natural-personshareholder, his lawful inheritor may inherit the shareholder's qualificationsunless it is otherwise provided for by the bylaw。

  第七十六条 【股东资格的继承】自然人股东死亡后,其合法继承人可以继承股东资格;但是,公司章程另有规定的除外。

ChapterIV Establishment and Organizational structure of A Joint Stock Limited Company

第四章 股份有限公司的设立和组织机构

Section1 Establishment

第一节 设立

Article 77 The establishment of a joint stocklimited company shall satisfy the following conditions:

(1)Thenumber of promoters meets the quorum requirement;

(2)Thecapital stock subscribed to by the promoters and raised by stock floatationreaches the minimum amount of the statutory capital;

(3)Theissuance of shares and the preparatory work conform to the provisions of laws;

(4)Thebylaw is formulated by the promoters, and is adopted at the establishmentmeeting if the company is to be launched by stock floatation;

(5)Thecompany has a name and its organizational structure complies with that of ajoint stock limited company

(6)Thecompany has a domicile。

  第七十七条 【设立条件】设立股份有限公司,应当具备下列条件:

  (一)发起人符合法定人数;

  (二)发起人认购和募集的股本达到法定资本最低限额;

  (三)股份发行、筹办事项符合法律规定;

  (四)发起人制订公司章程,采用募集方式设立的经创立大会通过;

  (五)有公司名称,建立符合股份有限公司要求的组织机构;

  (六)有公司住所。

Article 78 A joint stock limited company maybe established by the way of promotion or stock floatation.

Theestablishment of a company by promotion means that the promoters establish acompany by subscribing to all of the shares that should be issued by thecompany.

Theestablishment of a company by stock floatation means that the promotersestablish a company by subscribing to some of the shares that should be issuedby the company and offering the remaining shares to the general public or to agroup of specified people for subscription.

  第七十八条 【设立方式】股份有限公司的设立,可以采取发起设立或者募集设立的方式。

  发起设立,是指由发起人认购公司应发行的全部股份而设立公司。

  募集设立,是指由发起人认购公司应发行股份的一部分,其余股份向社会公开募集或者向特定对象募集而设立公司。

Article 79 To establish a joint stock limitedcompany, there shall not be less than 2 but not more than 200 promoters, ofwhom half or more shall have a domicile within the territory of China.

  第七十九条 【设立发起人的限制】设立股份有限公司,应当有二人以上二百人以下为发起人,其中须有半数以上的发起人在中国境内有住所。

Article 80 The promoters of a joint stocklimited company shall undertake the preparatory work of the company.

Theyshall conclude a promoter's agreement to clarify their respective rights andobligations during the course of establishing the company。

  第八十条 【发起人筹办公司的义务】股份有限公司发起人承担公司筹办事务。

  发起人应当签订发起人协议,明确各自在公司设立过程中的权利和义务。

Article 81 Where a joint stock limited companyis established by promotion, its registered capital shall be the total capitalstocks subscribed by all the promoters with the company registration authority.The minimum amount of initial capital contributions to be made by all promotersshall be not less than 20% of the total registered capital, the remainingamount shall be paid by the promoters within 2 years from the day when thecompany is established, while for an investment company, the remaining amountmay be paid within 5 years. Before the registered capital is paid, no stock maybe offered to others for subscription.

Wherea joint stock limited company is established by stock floatation, itsregistered capital shall be the total actually paid capital stocks registeredwith the company registration authority. The minimum amount of the registeredcapital of a joint stock limited company shall be RMB 5 million yuan. If anylaw or administrative regulation provides a relatively higher minimum amount ofregistered capital, such provision shall be followed.

  第八十一条 【注册资本与发起人的出资限额】股份有限公司采取发起设立方式设立的,注册资本为在公司登记机关登记的全体发起人认购的股本总额。公司全体发起人的首次出资额不得低于注册资本的百分之二十,其余部分由发起人自公司成立之日起两年内缴足;其中,投资公司可以在五年内缴足。在缴足前,不得向他人募集股份。

  股份有限公司采取募集方式设立的,注册资本为在公司登记机关登记的实收股本总额。

  股份有限公司注册资本的最低限额为人民币五百万元。法律、行政法规对股份有限公司注册资本的最低限额有较高规定的,从其规定。

Article 82 The bylaw of a joint stock limitedcompany shall specify the following matters:

(1)Thename and address of the company;

(2)Thebusiness scope of the company;

(3)Theform of company establishment;

(4)Totalshares, par value of each share, and the amount of registered capital of thecompany;

(5)Thename of each promoter, the shares it has subscribed to, as well as the form anddate of capital contributions;

(6)Thecomposition, powers, term of office, and rules of procedure of the board ofdirectors;

(7)Thelegal representative of the company;

(8)Thecomposition, powers, term of office, and rules of procedure of the supervisoryboard;

(9)Themethod for profit distribution of the company;

(10)Thereasons for dissolution of the company and liquidation methods;

(11)Themethods for issuing notices or public announcements of the company; and

(12)Othermatters deemed necessary by the meetings of shareholders' assembly.

  第八十二条 【股份有限公司章程的法定事项】股份有限公司章程应当载明下列事项:

  (一)公司名称和住所;

  (二)公司经营范围;

  (三)公司设立方式;

  (四)公司股份总数、每股金额和注册资本;

  (五)发起人的姓名或者名称、认购的股份数、出资方式和出资时间;

  (六)董事会的组成、职权和议事规则;

  (七)公司法定代表人;

  (八)监事会的组成、职权和议事规则;

  (九)公司利润分配办法;

  (十)公司的解散事由与清算办法;

  (十一)公司的通知和公告办法;

  (十二)股东大会会议认为需要规定的其他事项。

Article 83 The form of capital contributionsof promoters shall be governed by the provisions of

Article 27 of this Law。

  第八十三条 【发起人的出资方式要求】发起人的出资方式,适用本法第二十七条的规定。

Article 84 When establishing a joint stockcompany limited by promotion, the promoters shall subscribe, in writing, to thefull amount of shares provided in the bylaw. In the case of paying the capitalcontributions at one time, the promoters shall make the payment in a lump sum;in the case of paying the capital contributions by installments, the promotersshall make the down payment immediately. In the case of making capitalcontributions in non-monetary properties, the promoters shall go through theprocedures for the transfer of property rights according to laws.

If anyof the promoters fails to make capital contributions by following theprovisions of the preceding paragraph, it shall bear the liabilities for breachof contract under the stipulations in the promoter's agreement。

Afterthe promoters have made their down payment, they should elect the board ofdirectors and board of supervisors. The board of directors shall file a registrationapplication with the company registration authority and submit thereto thebylaw, the capital verification certification as issued by a lawfullyestablished capital verification institution, as well as other documents asprovided for by the laws and administrative regulations.

  第八十四条 【发起人出资义务的履行、出资违约及设立登记申请】以发起设立方式设立股份有限公司的,发起人应当书面认足公司章程规定其认购的股份;一次缴纳的,应即缴纳全部出资;分期缴纳的,应即缴纳首期出资。以非货币财产出资的,应当依法办理其财产权的转移手续。

  发起人不依照前款规定缴纳出资的,应当按照发起人协议承担违约责任。

  发起人首次缴纳出资后,应当选举董事会和监事会,由董事会向公司登记机关报送公司章程、由依法设定的验资机构出具的验资证明以及法律、行政法规规定的其他文件,申请设立登记。

Article 85 For a joint stock limited companyestablished by stock flotation, the shares subscribed by the promoters shallnot be less than 35 % of the total shares. However, if it is otherwise providedfor by any law or administrative regulation, such law or administrativeregulation shall prevail.

  第八十五条 【对募集设立发起人认购股份的要求】以募集设立方式设立股份有限公司的,发起人认购的股份不得少于公司股份总数的百分之三十五;但是,法律、行政法规另有规定的,从其规定。

Article 86 For the public offer shares, thepromoters shall publish a prospectus and prepare share subscription forms。 Theshare subscription form shall contain the items listed in

Article 87, and a subscriber shall fill in thenumber and amount of shares he subscribes to and his domicile, and shall affixhis signature or seal thereto. A subscriber shall pay the shares according tothe number of shares he has subscribed to.

  第八十六条 【募集股份公告和认股书内容】发起人向社会公开募集股份,必须公告招股说明书,并制作认股书。认股书应当载明本法第八十七条所列事项,由认股人填写认购股数、金额、住所,并签名、盖章。认股人按照所认购股数缴纳股款。

Article 87 The prospectus shall be accompaniedby the bylaw formulated by the promoters and shall state the following:

(1)Thenumber of shares subscribed to by the promoters;

(2)Thepar value and issuing price of each share;

(3)Thetotal number of unregistered stocks issued;

(4)Thepurposes for the fund raising;

(5)Therights and obligations of the subscribers; and

(6)Thebeginning and ending dates for the public offering and a statement to indicatethat the subscribers may revoke their subscriptions if the offered stocks cannotbe fully subscribed at the closing time of the public offering。

  第八十七条 【招股说明书的主要内容】招股说明书应当附有发起人制订的公司章程,并载明下列事项:

  (一)发起人认购的股份数;

  (二)每股的票面金额和发行价格;

  (三)无记名股票的发行总数;

  (四)募集资金的用途;

  (五)认股人的权利、义务;

  (六)本次募股的起止期限及逾期未募足时认股人可以撤回所认股份的说明。

Article 88 The public offer shares shall beunderwritten by a lawfully established securities company and an underwritingagreement shall be concluded.

  第八十八条 【发起人向社会募集股份的方式】发起人向社会公开募集股份,应当由依法设立的证券公司承销,签订承销协议。

Article 89 For the public offer shares, thepromoters shall sign an agreement with the bank receiving the funds to purchasethe shares。

Thereceiving bank shall receive and hold as agent the payments for sharesaccording to the agreement, produce receipts to subscribers who have made thepayments, and shall be obliged to produce evidence of receipt of payments tothe relevant departments.

  第八十九条 【缴纳股款方式】发起人向社会公开募集股份,应当同银行签订代收股款协议。

  代收股款的银行应当按照协议代收和保存股款,向缴纳股款的认股人出具收款单据,并负有向有关部门出具收款证明的义务。

Article 90 After full payments have been madefor the public offer shares, they shall be verified by a lawfully establishedcapital verification institution and a certification shall be issued thereby。The promoters shall hold a company establishment meeting within 30 days, whichshall be composed of the subscribers。 If the public offer shares are not fullysubscribed to at the expiration of the time limit prescribed in the prospectus,or if the promoters fail to hold an establishment meeting within 30 days afterfull payment for the public offer shares is made, the subscribers may demandthe promoters to make repayments for the public offer shares plus an interestcalculated at the bank deposit interest rate for the same period。

  第九十条 【发起人召开公司创立大会的义务】发行股份的股款缴足后,必须经依法设立的验资机构验资并出具证明。发起人应当自股款缴足之日起三十日内主持召开公司创立大会。创立大会由发起人、认股人组成。

  发行的股份超过招股说明书规定的截止期限尚未募足的,或者发行股份的股款缴足后,发起人在三十日内未召开创立大会的,认股人可以按照所缴股款并加算银行同期存款利息,要求发起人返还。

Article 91 The promoters shall notify eachsubscriber of the date of the establishment meeting or make a publicannouncement about the meeting 15 days in advance. The establishment meetingmay not be held unless subscribers representing at least half of the sharesappear. The establishment meeting shall exercise the following powers:

(1)Deliberating the report on the pre-establishment activities prepared by the sponsors;

(2)Adopting the bylaw;

(3)Electingmembers of the board of directors;

(4)Electingmembers of the board of supervisors;

(5)Verifyingexpenses incurred for the establishment of the company;

(6)Verifying the value of the assets contributed by the promoters in lieu ofpecuniary payment for the shares;

(7)Wherethe force majeure or a material change of the operational conditions makes theestablishment of a company impossible, the promoters may decide not toestablish the company.

Aresolution adopted at the establishment meeting on any of the matters asmentioned in the previous paragraph requires affirmative votes by subscribersrepresenting more than half of the votes of those attending the meeting.

  第九十一条 【创立大会的召集职权和表决程序】发起人应当在创立大会召开十五日前将会议日期通知各认股人或者予以公告。创立大会应有代表股份总数过半数的发起人、认股人出席,方可举行。

  创立大会行使下列职权:

  (一)审议发起人关于公司筹办情况的报告;

  (二)通过公司章程;

  (三)选举董事会成员;

  (四)选举监事会成员;

  (五)对公司的设立费用进行审核;

  (六)对发起人用于抵作股款的财产的作价进行审核;

  (七)发生不可抗力或者经营条件发生重大变化直接影响公司设立的,可以作出不设立公司的决议。

  创立大会对前款所列事项作出决议,必须经出席会议的认股人所持表决权过半数通过。

Article 92 The promoters and subscribers shallnot withdraw their share capital after making payments for the shares they havesubscribed to or after making capital contributions by using non-monetaryproperties, unless the public offer shares have not been fully subscribedwithin the time limit, the promoters fail to convene the establishment meetingwithin the time limit, or the establishment meeting has decided not to set upthe company.

  第九十二条 【股本抽回的限制】发起人、认股人缴纳股款或者交付抵作股款的出资后,除未按期募足股份、发起人未按期召开创立大会或者创立大会决议不设立公司的情形外,不得抽回其股本。

Article 93 The board of directors shall,within 30 days after the establishment meeting ends, file a registrationapplication with the company registration authority and submit thereto the followingdocuments:

(1)Acompany registration application;

(2)Theminutes of the establishment meeting;

(3)Thebylaw;

(4)Acapital verification certification;

(5)Theappointment documents and identity certificates of the legal representative,directors, supervisors;

(6)Thepromoters' certifications of the legal person or the identifications of naturalpersons, and

(7)Thecertification for the domicile of the company.

For ajoint stock limited company established by stock floatation that makes publicstock offerings, besides the aforementioned documents, it shall submit to thecompany registration authority the approval documents issued by the securitiesregulatory institution of the State Council.

  第九十三条 【申请设立登记文件】董事会应于创立大会结束后三十日内,向公司登记机关报送下列文件,申请设立登记:

  (一)公司登记申请书;

  (二)创立大会的会议记录;

  (三)公司章程;

  (四)验资证明;

  (五)法定代表人、董事、监事的任职文件及其身份证明;

  (六)发起人的法人资格证明或者自然人身份证明;

  (七)公司住所证明。

  以募集方式设立股份有限公司公开发行股票的,还应当向公司登记机关报送国务院证券监督管理机构的核准文件。

Article 94 After the establishment of a jointstock limited company, if any of the promoters fail to make full payments forthe capital contributions as stipulated in the bylaw, they shall make up thearrears and the other promoters shall bear several and joint liabilities.

Afterthe establishment of a joint stock limited company, if it is found that theactual value of the non-monetary properties used as capital contributions forthe establishment of the company is obviously lower than as the value stipulatedin the bylaw, the promoter who made such a capital contribution shall make upthe difference and the other promoters shall bear several and jointliabilities.

  第九十四条 【发起人的出资补缴责任】股份有限公司成立后,发起人未按照公司章程的规定缴足出资的,应当补缴;其他发起人承担连带责任。

  股份有限公司成立后,发现作为设立公司出资的非货币财产的实际价额显著低于公司章程所定价额的,应当由交付该出资的发起人补足其差额;其他发起人承担连带责任。

Article 95 The promoters of a joint stocklimited company shall bear the following liabilities:

(1) Inthe event of failure to establish the company, being jointly and severallyliable for the debts and expenses incurred from the activities related to thecompany establishment;

(2) Inthe event of failure to establish the company, being jointly and severallyliable for refunding the subscribers with their paid capital plus the interestscalculated according to the bank interest rate for the same period of time; and

(3) Ifthe company's interest is injured in the course of its establishment due to thenegligence of the promoters, being liable for making compensations to thecompany.

  第九十五条 【公司设立过程中的发起人责任】股份有限公司的发起人应当承担下列责任:

  (一)公司不能成立时,对设立行为所产生的债务和费用负连带责任;

  (二)公司不能成立时,对认股人已缴纳的股款,负返还股款并加算银行同期存款利息的连带责任;

  (三)在公司设立过程中,由于发起人的过失致使公司利益受到损害的,应当对公司承担赔偿责任。

Article 96 Where a limited liability companyis changed into a joint stock limited company, the total amount of the paidcapital shall not be less than the total amount of the net assets。 Where alimited liability company is changed into a joint stock limited company, thepublic offer stocks issued for the purpose of increasing the capital shallcomply with the law。

  第九十六条 【有限责任公司变更为股份有限公司的资产额要求及募股要求】有限责任公司变更为股份有限公司时,折合的实收股本总额不得高于公司净资产额。有限责任公司变更为股份有限公司,为增加资本公开发行股份时,应当依法办理。

Article 97 A joint stock limited company shallmake and keep the bylaw, the register of the shareholders, the stubs ofcorporate bonds, the minutes of the shareholders' assembly meetings, theminutes of the meetings of the board of directors, the minutes of the meetingsof the board of supervisors, and the financial reports in the company.

  第九十七条 【重要资料的置备】股份有限公司应当将公司章程、股东名册、公司债券存根、股东大会会议记录、董事会会议记录、监事会会议记录、财务会计报告置备于本公司。

Article 98 The shareholders shall be entitledto review the bylaw, the register of the shareholders, the stubs of corporatebonds, the minutes of the shareholders' assembly meetings, the minutes of themeetings of the board of directors, the minutes of the meetings of the board ofsupervisors, and the financial reports, and may put forward proposals or raisequestions about the business operations of the company.

  第九十八条 【股东的查阅权与建议质询权】股东有权查阅公司章程、股东名册、公司债券存根、股东大会会议记录、董事会会议决议、监事会会议决议、财务会计报告,对公司的经营提出建议或者质询。

Section2 Shareholders' Assembly

第二节 股东大会

Article 99 The shareholders' assembly of ajoint stock limited company shall be composed of all the shareholders。 It isthe company's organ of power, which shall exercise its powers according to thislaw。

  第九十九条 【股东大会的地位与组成】股份有限公司股东大会由全体股东组成。股东大会是公司的权力机构,依照本法行使职权。

Article 100 The provisions regarding thepowers of the shareholders' assembly of a limited liability company asprescribed in the first paragraph of

Article 38 of this Law shall apply to theshareholders' assembly of a joint stock limited company.

  第一百条 【股东大会的职权】本法第三十八条第一款关于有限责任公司股东会职权的规定,适用于股份有限公司股东大会。

Article 101 An annual session of theshareholders' assembly shall be held each year。 Under any of the followingcircumstances, an interim shareholders' assembly session shall be held within 2months:

(1)The number of directors is less than two-thirds of the number of directors asrequired by this Law or the number of directors as specified in the bylaw;

(2)The un-recovered losses of the company reach one-third of the total pain-incapital;

(3) Atthe request of the shareholders separately or aggregately holding 10% or moreof the company's shares;

(4)The board of directors deems it necessary;

(5) Atthe request of the board of supervisors; and

(6)Other circumstances as specified in the bylaw.

  第一百零一条 【股东大会及临时股东大会的召开】股东大会应当每年召开一次年会。有下列情形之一的,应当在两个月内召开临时股东大会:

  (一)董事人数不足本法规定人数或者公司章程所定人数的三分之二时;

  (二)公司未弥补的亏损达实收股本总额三分之一时;

  (三)单独或者合计持有公司百分之十以上股份的股东请求时;

  (四)董事会认为必要时;

  (五)监事会提议召开时;

  (六)公司章程规定的其他情形。

Article 102 A session of the shareholders'assembly shall be convened by the board of directors and shall be presided overby the chairman of the board of directors. If the chairman is unable or failsto perform his duties, the meetings thereof shall be presided over by thedeputy chairman of the board of directors. If the deputy chairman of the boardof directors is unable or fails to perform his duties, the meetings shall bepresided over by a director jointly recommended by half or more of the directors.

If theboard of directors or the acting director is unable or fails to fulfill theobligation of convening the meetings of the shareholders' assembly, the boardof supervisors shall convene and preside over such meetings。 If the board ofsupervisors does not convene or preside over such meetings, the shareholdersseparately or aggregately holding 1/10 or more of the shares may convene andpreside over such meetings on their own initiative。

  第一百零二条 【股东大会的召集】股东大会会议由董事会召集,董事长主持;董事长不能履行职务或者不履行职务的,由副董事长主持;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事主持。

  董事会不能履行或者不履行召集股东大会会议职责的,监事会应当及时召集和主持;监事会不召集和主持的,连续九十日以上单独或者合计持有公司百分之十以上股份的股东可以自行召集和主持。

Article 103 For a shareholders' assemblymeeting to be held, a notice shall be given to each shareholder 20 days inadvance, which shall state the time and place of the meeting, and the mattersto be deliberated at the meeting. For an interim meeting of the shareholders'assembly, a notice shall be given to each shareholder 15 days in advance. Forthe issue of unregistered stocks, the time and place of the meeting and thematters to be deliberated at the meeting shall be announced 30 days in advance.

Theshareholders separately or aggregately holding 3% or more of the shares of thecompany may put forward a written interim proposal to the board of directors 10days before a shareholders' assembly is held。 The board of directors may notifyother shareholders within 2 days and submit the interim proposal to the meetingof the shareholders' assembly for deliberation。 The contents of an interimproposal shall fall within the scope to be decided by the shareholders'assembly, and the interim proposal shall have a clear topic for discussion andmatters to be decided。

Theshareholders' assembly shall not make any decision on any matter not listed inthe notice as mentioned in the preceding two paragraphs. If the holders ofunregistered stocks attend the shareholders' assembly, they shall have theirstocks preserved in the company during the period from 5 days before themeeting is held to the day when the shareholders' assembly is closed.

  第一百零三条 【股东大会的通知期限、临时议案和股票交存制度】召开股东大会会议,应当将会议召开的时间、地点和审议的事项于会议召开二十日前通知各股东;临时股东大会应当于会议召开十五日前通知各股东;发行无记名股票的,应当于会议召开三十日前公告会议召开的时间、地点和审议事项。

  单独或者合计持有公司百分之三以上股份的股东,可以在股东大会召开十日前提出临时提案并书面提交董事会;董事会应当在收到提案后二日内通知其他股东,并将该临时提案提交股东大会审议。临时提案的内容应当属于股东大会职权范围,并有明确议题和具体决议事项。

  股东大会不得对前两款通知中未列明的事项作出决议。

  无记名股票持有人出席股东大会会议的,应当于会议召开五日前至股东大会闭会时将股票交存于公司。

Article 104 When a shareholder attends ameeting of the shareholders' assembly, he shall have one voting right for eachshare he holds. However, the company has no voting right for its own shares itholds. When any resolution is to be made by the shareholders' assembly, itshall be adopted by shareholders representing more than half of the votingrights of the shareholders in presence. However, when the shareholders'assembly makes a decision to modify the bylaw, or to increase or reduce theregistered capital, or a resolution about the merger, split-up, dissolution orchange of the company form, such a decision shall be adopted by shareholdersrepresenting 2/3 or more of the voting rights of the shareholders in presence.

  第一百零四条 【表决权与股东大会议事规则】股东出席股东大会会议,所持每一股份有一表决权。但是,公司持有的本公司股份没有表决权。

  股东大会作出决议,必须经出席会议的股东所持表决权过半数通过。但是,股东大会作出修改公司章程、增加或者减少注册资本的决议,以及公司合并、分立、解散或者变更公司形式的决议,必须经出席会议的股东所持表决权的三分之二以上通过。

Article 105 The important matters, such as thecompany to transfer or accept any significant asset or to provide a guarantyfor any other person shall be decided by the shareholders' assembly accordingto this Law and the bylaw, the board of directors shall timely call ashareholders' assembly to vote on these matters.

  第一百零五条 【股东大会的法定召集及表决事项】本法和公司章程规定公司转让、受让重大资产或者对外提供担保等事项必须经股东大会作出决议的,董事会应当及时召集股东大会会议,由股东大会就上述事项进行表决。

Article 106 A shareholders' assembly may adopta cumulative voting system to elect the directors or supervisors according tothe bylaw or its resolutions.

Theterm "cumulative voting system" as mentioned in this Law refers to asystem of voting by shareholders for the election of directors or supervisorsat a meeting of the shareholders' assembly in which the shareholder canmultiply his voting rights by the number of candidates and vote them all forone candidate for director or supervisor.

  第一百零六条 【累积投票制】股东大会选举董事、监事,可以依照公司章程的规定或者股东大会的决议,实行累积投票制。

  本法所称累积投票制,是指股东大会选举董事或者监事时,每一股份拥有与应选董事或者监事人数相同的表决权,股东拥有的表决权可以集中使用。

Article 107 A shareholder may entrust an agentto attend a shareholders' assembly。 The agent shall present a proxy issued bythe shareholder to the company and shall exercise his voting rights within theauthorization scope。

  第一百零七条 【表决权的代理行使】股东可以委托代理人出席股东大会会议,代理人应当向公司提交股东授权委托书,并在授权范围内行使表决权。

Article 108 The shareholders' assembly shallscribe the minutes for the decisions about the matters discussed at theassembly。 The chair of the meeting and the directors in presence shall affixtheir signatures to the minutes, which shall be preserved together with thebook of signatures of the shareholders in presence as well as the power ofattorney thereof。

  第一百零八条 【股东大会的会议记录】股东大会应当对所议事项的决定作成会议记录,主持人、出席会议的董事应当在会议记录上签名。会议记录应当与出席股东的签名册及代理出席的委托书一并保存。

Section3 The Board of Directors and Manager

第三节 董事会、经理

Article 109 A joint stock limited companyshall set up a board of directors, which shall be composed of 5-19 persons.

Theboard of directors may include representatives of the company's employees. Therepresentatives of the employees who serve as board directors shall bedemocratically elected through the assembly of the representatives of theemployees, the assembly of employees, or other methods.

Theprovisions in

Article 46 of this Law on the term of officeof the directors of a limited liability company shall apply to the director ofa joint stock limited company.

Theprovisions in

Article 47 of this Law on the functions of theboard of directors of a limited liability company shall apply to the board ofdirectors of a joint stock limited company.

  第一百零九条 【董事会设立及其职权】股份有限公司设董事会,其成员为五人至十九人。

  董事会成员中可以有公司职工代表。董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

  本法第四十六条关于有限责任公司董事任期的规定,适用于股份有限公司董事。

  本法第四十七条关于有限责任公司董事会职权的规定,适用于股份有限公司董事会。

Article 110 The board of directors shall haveone chairman and may have a deputy chairman。 The chairman and deputy chairmenshall be elected by more than half of all the directors。

Thechairman of the board of directors shall call and preside over the meetings ofthe board of directors and check the implementation of the resolutions of theboard of directors。 The deputy chairman shall assist the chairman to work。 Ifthe chairman is unable or fails to perform his duties, the deputy chairmanshall perform such duties。 If the deputy chairman of the board of directors isunable or fails to perform his duties, a director who is jointly recommended byhalf or more of the directors shall perform such duties。

  第一百一十条 【董事会的组成】董事会设董事长一人,可以设副董事长。董事长和副董事长由董事会以全体董事的过半数选举产生。

  董事长召集和主持董事会会议,检查董事会决议的实施情况。副董事长协助董事长工作,董事长不能履行职务或者不履行职务的,由副董事长履行职务;副董事长不能履行职务或者不履行职务的,由半数以上董事共同推举一名董事履行职务。

Article 111 The board of directors shallconvene at least two meetings every year and shall give a notice to alldirectors and supervisors 10 days before it holds a meeting.

Theshareholders representing 1/10 or more of the voting rights, or 1/3 of the directors,or the board of supervisors may put forward a proposal to hold an interimmeeting of the board of directors. The chairman of the board of directorsshall, within 10 days after he receives such a proposal, call and preside overa meeting of the board of directors. If the board of directors holds an interimmeeting, it may separately decide the method and time limit for thenotification about convening meetings of the board of directors.

  第一百一十一条 【董事会的召开】董事会每年度至少召开两次会议,每次会议应当于会议召开十日前通知全体董事和监事。

  代表十分之一以上表决权的股东、三分之一以上董事或者监事会,可以提议召开董事会临时会议。董事长应当自接到提议后十日内,召集和主持董事会会议。

  董事会召开临时会议,可以另定召集董事会的通知方式和通知时限。

Article 112 No meeting of the board ofdirectors may be held unless more than half of the directors are present. Whenthe board of directors makes a resolution, it shall be adopted by more thanhalf of all the directors.

Forthe voting on a resolution of the board of directors, each director shall haveone vote only.

  第一百一十二条 【董事会的议事规则】董事会会议应有过半数的董事出席方可举行。董事会作出决议,必须经全体董事的过半数通过。

  董事会决议的表决,实行一人一票。

Article 113 The meetings of the board ofdirectors shall be attended by the directors in person. Where any director isunable to attend the meeting for a certain reason, he may, by issuing a writtenproxy, entrust another director to attend the meeting on his behalf, and theproxy shall state the scope of authorization.

Theboard of directors shall prepare minutes regarding the resolutions on thematters discussed at the meeting, which shall be signed by the directors inpresence. The directors shall be responsible for the resolutions of the boardof directors. Where a resolution of the board of directors is in violation ofany law, administrative regulation, bylaw, or resolution of the shareholders'assembly and causes any serious loss to the company, the directors whoparticipate in adopting the resolution shall make compensation. However, if adirector is proven to have expressed his objection to the vote on suchresolution and his objection was recorded in the minutes, then the director maybe exempted from liability.

  第一百一十三条 【董事会的出席与代理出席、会议记录与责任承担】董事会会议,应由董事本人出席;董事因故不能出席,可以书面委托其他董事代为出席,委托书中应载明授权范围。

  董事会应当对会议所议事项的决定作成会议记录,出席会议的董事应当在会议记录上签名。

  董事应当对董事会的决议承担责任。董事会的决议违反法律、行政法规或者公司章程、股东大会决议,致使公司遭受严重损失的,参与决议的董事对公司负赔偿责任。但经证明在表决时曾表明异议并记载于会议记录的,该董事可以免除责任。

Article 114 A joint stock limited company mayhave a manager whom may be hired or dismissed by the board of directors.

Theprovisions of

Article 50 of this Law on the powers of themanager of a limited liability company shall apply to the manager of a jointstock limited company。

  第一百一十四条 【经理及其职权】股份有限公司设经理,由董事会决定聘任或者解聘。

  本法第五十条关于有限责任公司经理职权的规定,适用于股份有限公司经理。

Article 115 The board of directors of acompany may decide to appoint a member of the board of directors toconcurrently take up the post of the manager。

  第一百一十五条 【董事会成员兼任经理】公司董事会可以决定由董事会成员兼任经理。

Article 116 No company may, directly or viaits subsidiary, lend money to any of its directors, supervisors, or seniormanagers。

  第一百一十六条 【禁止向高级职员提供借款】公司不得直接或者通过子公司向董事、监事、高级管理人员提供借款。

Article 117 A Company shall regularly discloseto its shareholders with the information about remunerations received by thedirectors, supervisors and senior managers from the company.

  第一百一十七条 【定期披露高级职员报酬】公司应当定期向股东披露董事、监事、高级管理人员从公司获得报酬的情况。

Section4 Board of Supervisors

第四节 监事会

Article 118 A joint stock limited companyshall set up a board of supervisors, which shall be composed of at least 3persons.

Theboard of supervisors shall include representatives of shareholders and anappropriate percentage of representatives of the company's employees. Thepercentage of the representatives of employees shall account for no less than1/3 of all the supervisors, but the concrete percentage shall be specified inthe bylaw. The representatives of employees who serve as members of the boardof supervisors shall be democratically elected through the assembly ofrepresentatives of the company's employees, the shareholders' assembly or byother means. The board of supervisors shall have one chairman and may have a deputychairman. The chairman and deputy chairman shall elected by more than half ofall the supervisors. The chairman of the board of supervisors shall call andpreside over the meetings of the board of supervisors. If the chairman of theboard of supervisors is unable or fails to perform his duties, the deputychairman of the board of supervisors shall call and preside over the meeting ofthe board of supervisors. If the deputy chairmen of the board of supervisorsare unable or fail to perform their duties, a supervisor jointly recommended byhalf or more of the supervisors shall call and preside over the meetings of theboard of supervisors.

Nodirector or senior manager may concurrently act as a supervisor.

Theprovisions of

Article 53 of this Law on the term of officeof the supervisors of a limited liability company shall apply to thesupervisors of a joint stock limited company.

  第一百一十八条 【监事会的设立与组成】股份有限公司设监事会,其成员不得少于三人。

  监事会应当包括股东代表和适当比例的公司职工代表,其中职工代表的比例不得低于三分之一,具体比例由公司章程规定。监事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他形式民主选举产生。

  监事会设主席一人,可以设副主席。监事会主席和副主席由全体监事过半数选举产生。监事会主席召集和主持监事会会议;监事会主席不能履行职务或者不履行职务的,由监事会副主席召集和主持监事会会议;监事会副主席不能履行职务或者不履行职务的,由半数以上监事共同推举一名监事召集和主持监事会会议。

  董事、高级管理人员不得兼任监事。

  本法第五十三条关于有限责任公司监事任期的规定,适用于股份有限公司监事。

Article 119 The provisions of

Articles 54 and 55 of this Law on thefunctions of a limited liability company shall apply to the board ofsupervisors of a joint stock limited company/

Theexpenses necessary for the board of supervisors to exercise its functions shallbe borne by the company.

  第一百一十九条 【监事会的职权】本法第五十四条、第五十五条关于有限责任公司监事会职权的规定,适用于股份有限公司监事会。

  监事会行使职权所必需的费用,由公司承担。

Article 120 The board of supervisors shallhold at least one meeting every 6 months. The supervisors may propose to callinterim meetings of the board of supervisors.

Thediscussion methods and voting procedures of the board of supervisors shall bespecified in the bylaw unless it is otherwise provided for by this Law.

Theboard of supervisors shall prepare minutes for the decisions about the mattersdiscussed at the meeting, which shall be signed by the supervisors in presence.

  第一百二十条 【监事会的会议制度】监事会每六个月至少召开一次会议。监事可以提议召开临时监事会会议。

  监事会的议事方式和表决程序,除本法有规定的外,由公司章程规定。

  监事会决议应当经半数以上监事通过。

  监事会应当对所议事项的决定作成会议记录,出席会议的监事应当在会议记录上签名。

Section5 Special Provisions on the Organizational structure of A Listed Company

第五节 上市公司组织机构的特别规定

Article 121 The term "listed company"as mentioned in this Law refers to the joint stock limited companies whosestocks are listed and traded in a stock exchange。

  第一百二十一条 【上市公司的定义】本法所称上市公司,是指其股票在证券交易所上市交易的股份有限公司。

Article 122 Where a listed company purchasesor sells any important asset, or provides guaranties that exceed 30% of thecompany's total assets within a year, such actions shall be authorized theresolutions made by the shareholders' assembly and adopted by the shareholdersrepresenting 2/3 of the voting rights of the shareholders who attend theassemblies。

  第一百二十二条 【重大资产买卖与重要担保的议事规则】上市公司在一年内购买、出售重大资产或者担保金额超过公司资产总额百分之三十的,应当由股东大会作出决议,并经出席会议的股东所持表决权的三分之二以上通过。

Article 123 A listed company shall haveindependent directors. The concrete measures shall be formulated by the StateCouncil.

  第一百二十三条 【独立董事的设立】上市公司设立独立董事,具体办法由国务院规定。

Article 124 A listed company may have asecretary of the board of directors, who shall be responsible for thepreparation of the sessions of shareholders' assembly and meetings of the boardof directors, the preservation of documents, the management of the company'sstock rights, and the information of disclosure, etc.

  第一百二十四条 【董事会秘书的设立及其职权】上市公司设董事会秘书,负责公司股东大会和董事会会议的筹备、文件保管以及公司股东资料的管理,办理信息披露事务等事宜。

Article 125 Where any of the directors has anyrelationship with the enterprise involved in the matter to be decided at themeeting of the board of directors, he shall not vote on this resolution, normay he vote on behalf of any other person. The meeting of the board ofdirectors shall not be held unless more than half of the unrelated directorsare present at the meeting. A resolution of the board of directors shall beadopted by more than half of the unrelated directors. If the number ofunrelated directors in presence is less than 3 persons, the matter shall besubmitted to the shareholders' assembly of the listed company for deliberation.

  第一百二十五条 【关联关系董事回避与相关事项议事规则】上市公司董事与董事会会议决议事项所涉及的企业有关联关系的,不得对该项决议行使表决权,也不得代理其他董事行使表决权。该董事会会议由过半数的无关联关系董事出席即可举行,董事会会议所作决议须经无关联关系董事过半数通过。出席董事会的无关联关系董事人数不足三人的,应将该事项提交上市公司股东大会审议。

ChapterV Issuance and Transfer of Shares of A Joint Stock Limited Company

第五章 股份有限公司的股份发行和转让

Section1 Issuance of Shares

第一节 股份发行

Article 126 The capital of a joint stocklimited company shall be divided into shares and all the shares shall be ofequal value.

Theshares of a company are represented by stocks. A stock is a certificate issuedby the company to certify the share held by a shareholder.

  第一百二十六条 【股份有限公司的股份及其形式】股份有限公司的资本划分为股份,每一股的金额相等。

  公司的股份采取股票的形式。股票是公司签发的证明股东所持股份的凭证。

Article 127 The issuance of shares shallcomply with the principle of fairness and impartiality。 The shares of the sameclass shall have the same rights and benefits。 The stocks issued at the sametime shall be equal in price and shall be subject to the same conditions。 Theprice of each share purchased by any organization or individual shall be thesame。

  第一百二十七条 【股份有限公司股份发行的原则】股份的发行,实行公平、公正的原则,同种类的每一股份应当具有同等权利。

  同次发行的同种类股票,每股的发行条件和价格应当相同;任何单位或者个人所认购的股份,每股应当支付相同价额。

Article 128 The stocks may be issued at aprice equal to or in excess of par value, but not below par value。

  第一百二十八条 【股票发行的价格】股票发行价格可以按票面金额,也可以超过票面金额,但不得低于票面金额。

Article 129 The stocks shall be in paper formor in other forms prescribed by the securities regulatory institution of theState Council.

Astock shall state the following major items:

(1)The company name;

(2)The company's date of establishment;

(3)The class and par value of the stock, as well as the number of shares itrepresents; and

(4)The serial number of the stock。

Thestock shall bear the signature of the legal representative and the seal of thecompany。

Thestocks held by the promoters shall be marked with the words "promoters'stocks"。

  第一百二十九条 【股票形式与应载明的事项】股票采用纸面形式或者国务院证券监督管理机构规定的其他形式。

  股票应当载明下列主要事项:

  (一)公司名称;

  (二)公司成立日期;

  (三)股票种类、票面金额及代表的股份数;

  (四)股票的编号。

  股票由法定代表人签名,公司盖章。

  发起人的股票,应当标明发起人股票字样。

Article 130 The stocks issued by a company maybe registered stocks or unregistered stocks。

Thestocks issued to promoters or legal persons shall be registered stocks, whichshall state the names of such promoters or legal persons, and shall not be registeredin any other person's name or the names of any representative。

  第一百三十条 【股票种类】公司发行的股票,可以为记名股票,也可以为无记名股票。

  公司向发起人、法人发行的股票,应当为记名股票,并应当记载该发起人、法人的名称或者姓名,不得另立户名或者以代表人姓名记名。

Article 131 A company that issues registeredstocks shall prepare a register of shareholders, which shall state thefollowing:

(1)The name and domicile of each shareholder;

(2)The number of shares held by each shareholder;

(3)The serial numbers of the stocks held by each shareholder; and

(4)The date on which each shareholder acquired his shares.

Acompany issuing unregistered stocks shall record the amount, serial numbers andissuance date of the stocks。

  第一百三十一条 【股东名册的置备及内容】公司发行记名股票的,应当置备股东名册,记载下列事项:

  (一)股东的姓名或者名称及住所;

  (二)各股东所持股份数;

  (三)各股东所持股票的编号;

  (四)各股东取得股份的日期。

  发行无记名股票的,公司应当记载其股票数量、编号及发行日期。

Article 132 For the company's issuance ofother shares not provided for in this Law, the State Council may formulateseparate provisions.

  第一百三十二条 【其他种类股票】国务院可以对公司发行本法规定以外的其他种类的股份,另行作出规定。

Article 133 After a joint stock limitedcompany is established, it shall formally deliver the stocks to theshareholders. No company may deliver any stock to the shareholders prior to itsestablishment.

  第一百三十三条 【向股东交付股票的时间】股份有限公司成立后,即向股东正式交付股票。公司成立前不得向股东交付股票。

Article 134 Where a company intends to issuenew stocks, it shall, under its bylaw, make a resolution about the followingmatters through the shareholders' assembly or board of directors:

(1)The class and amount of new stocks;

(2)The issuing price of the new stocks;

(3) Thebeginning and ending dates for the issuance of new stocks; and

(4)The class and amount of the new stocks to be issued to the originalshareholders.

  第一百三十四条 【发行新股的决议事项】公司发行新股,股东大会应当对下列事项作出决议:

  (一)新股种类及数额;

  (二)新股发行价格;

  (三)新股发行的起止日期;

  (四)向原有股东发行新股的种类及数额。

Article 135 When a company publicly issues newstocks upon approval of the securities regulatory institution, it shall publisha new stock prospectus and its financial reports, and shall make a stocksubscription form.

Theprovisions of

Articles 88 and 89 of this Law shall apply tothe public offering of new stocks of a company.

  第一百三十五条 【新股发行公告、募股方式及缴纳股款方式】公司经国务院证券监督管理机构核准公开发行新股时,必须公告新股招股说明书和财务会计报告,并制作认股书。

  本法第八十八条、第八十九条的规定适用于公司公开发行新股。

Article 136 When a company issues new stocks,it may make a pricing plan according to its business operations and financialstatus。

  第一百三十六条 【新股作价方案的确定】公司发行新股,可以根据公司经营情况和财务状况,确定其作价方案。

Article 137 After a company raises enoughcapital, it shall go through modification registration in the companyregistration authority and make an public announcement.

  第一百三十七条 【新股募足后的变更登记及公告】公司发行新股募足股款后,必须向公司登记机关办理变更登记,并公告。

Section2 Transfer of Shares

第二节 股份转让

Article 138 The shares held by thestockholders may be transferred according to laws.

  第一百三十八条 【股份可依法转让】股东持有的股份可以依法转让。

Article 139 Where a stockholder intends totransfer its shares, it shall transfer its shares in a lawfully establishedstock exchange or by any other means as prescribed by the State Council。

  第一百三十九条 【转让股份的场所】股东转让其股份,应当在依法设立的证券交易场所进行或者按照国务院规定的其他方式进行。

Article 140 Registered stocks may be assignedby their stockholders' endorsement or by any other means prescribed by therelevant laws or administrative regulations. After the assignment, the companyshall record the name and domicile of the transferee in the register ofshareholders. Within 20 days before an assembly of shareholders is held, orwithin 5 days prior to the benchmark date decided by the company for thedistribution of dividends, no modification registration may be made to theregister of shareholders as mentioned in the preceding paragraph. However, ifany law provides otherwise for the modification registration of the register ofshareholders of listed companies, the latter shall prevail.

  第一百四十条 【记名股票的转让】记名股票,由股东以背书方式或者法律、行政法规规定的其他方式转让;转让后由公司将受让人的姓名或者名称及住所记载于股东名册。

  股东大会召开前二十日内或者公司决定分配股利的基准日前五日内,不得进行前款规定的股东名册的变更登记。但是,法律对上市公司股东名册变更登记另有规定的,从其规定。

Article 141 The transfer of an unregisteredstock takes effect as soon as the stockholder delivers the stock to thetransferee.

  第一百四十一条 【无记名股票的转让】无记名股票的转让,由股东将该股票交付给受让人后即发生转让的效力。

Article 142 The shares of a company held bythe promoters of this company shall not be transferred within 1 year after thedate of the establishment of the company. The shares issued before the companypublicly issues shares shall not be transferred within 1 year from the day whenthe stocks of the company get listed and are traded in a stock exchange.

Thedirectors, supervisors and senior managers of the company shall declare to thecompany the shares held by them and the changes thereof. During the term ofoffice, the shares transferred by any of them each year shall not exceed 25% ofthe total shares of the company he holds. The shares of the company held by theaforesaid persons shall not be transferred within 1 year from the day when thestocks of the company get listed and are traded in a stock exchange. After anyof the aforesaid persons is removed from his post, he shall not transfer theshares of the company he holds. The bylaw may have other restrictions on thetransfer of shares held by the directors, supervisors and senior managers.

  第一百四十二条 【转让本公司股份的限制】发起人持有的本公司股份,自公司成立之日起一年内不得转让。公司公开发行股份前已发行的股份,自公司股票在证券交易所上市交易之日起一年内不得转让。

  公司董事、监事、高级管理人员应当向公司申报所持有的本公司的股份及其变动情况,在任职期间每年转让的股份不得超过其所持有本公司股份总数的百分之二十五;所持本公司股份自公司股票上市交易之日起一年内不得转让。上述人员离职后半年内,不得转让其所持有的本公司股份。公司章程可以对公司董事、监事、高级管理人员转让其所持有的本公司股份作出其他限制性规定。

Article 143 A company shall not purchase itsown shares except under any of the following circumstances:

(1) Todecrease the registered capital of the company;

(2) Tomerge another company holding shares of this company;

(3) Toaward the employees of this company with shares; or

(4) Itis requested by any shareholder to purchase his shares because this shareholderobjects to the company's resolution on merger or split-up made by the assemblyof shareholders。

Wherea company needs to purchase its own shares for any of the reasons as mentionedin Items (1) through (3) of the preceding paragraph, it shall be subject to aresolution of the shareholders' assembly。 After the company purchases its ownshares pursuant to the provisions of the preceding paragraph, it shall, underthe circumstance as mentioned in Item (1), write them off within 10 days afterthe purchase; while under either circumstance as mentioned in Item (2) or (4),transfer them or write them off within 6 months。

Theshares purchased by the company according to Item (3) of the preceding paragraphshall not exceed 5% of the total shares already issued by this company。 Thefund used for the share acquisition shall be paid from the after-tax profits ofthe company。 The shares purchased by the company shall be transferred to theemployees within 1 year。

Nocompany may accept any subject matter taking the stocks of this company as apledge。

  第一百四十三条 【禁止收购本公司股份及其例外】公司不得收购本公司股份。但是,有下列情形之一的除外:

  (一)减少公司注册资本;

  (二)与持有本公司股份的其他公司合并;

  (三)将股份奖励给本公司职工;

  (四)股东因对股东大会作出的公司合并、分立决议持异议,要求公司收购其股份的。

  公司因前款第(一)项至第(三)项的原因收购本公司股份的,应当经股东大会决议。公司依照前款规定收购本公司股份后,属于第(一)项情形的,应当自收购之日起十日内注销;属于第(二)项、第(四)项情形的,应当在六个月内转让或者注销。

  公司依照第一款第(三)项规定收购的本公司股份,不得超过本公司已发行股份总额的百分之五;用于收购的资金应当从公司的税后利润中支出;所收购的股份应当在一年内转让给职工。

  公司不得接受本公司的股票作为质押权的标的。

Article 144 Where any registered stocks arestolen, lost or destroyed, the shareholder may request the people's court todeclare these stocks invalid according to the public notice procedureprescribed in the Civil Procedural Law of the People's Republic of China. Afterthe people's court has invalidated these stocks, the shareholder may file anapplication to the company for the issuance of new stocks.

  第一百四十四条 【公示催告程序】记名股票被盗、遗失或者灭失,股东可以依照《中华人民共和国民事诉讼法》规定的公示催告程序,请求人民法院宣告该股票失效。人民法院宣告该股票失效后,股东可以向公司申请补发股票。

。。。。。。略



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