中华人民共和国公司法
THE COMPANY LAW OF THE PEOPLE‘S REPUBLIC OF CHINA
目录：
TABLE OF CONTENTS
第一章：总则
Chapter One: General Provisions
第二章：有限责任公司的设立和组织机构
Chapter Two: Establishment and Organs of Limited Liability Company
第一节：设立
Section One Establishment
第二节：组织机构
Section Two Organs
第三节：国有独资公司
Section Three. Wholly State-owned Company
第三章：股份有限公司的设立和组织机构
Chapter Three: Establishment and Organs of Joint Stock Limited Company
第一节：设立
Section One. Establishment
第二节：股东大会
Section Two. Shareholders‘ general committee
第三节：董事会、经理
Section Three. Board Of Directors And General Manager
第四节：监事会
Section Four. Board Of Supervisors
第四章：股份有限公司的股份发行和转让
Chapter Four: Issue and Transfer of Shares of Joint Stock Limited Company
第一节：股份发行
Section One. Issue Of Shares
第二节：股份转让
Section Two. Transfer Of Shares
第三节：上市公司
Section Three. Listed Company
第五章：公司债券
Chapter Five: Company Bonds
第六章：公司财务、会计
Chapter Six: Financial and Accounting Affairs of Company
第七章：公司合并、分立
Chapter Seven: Merger and Division of Company
第八章：公司破产、解散和清算
Chapter Eight: Bankruptcy, Dissolution and Liquidation of Company
第九章：外国公司的分支机构
Chapter Nine: Branch of Foreign Company
第十章：法律责任
Chapter Ten: Legal Liabilities
第十一章：附则
Chapter Eleven: Supplementary Provisions
第一章：总则
Chapter One: General Provisions
第一条：为了适应建立现代企业制度的需要，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，根据宪法，制定本法。
Article 1 This Law is enacted in accordance with the Constitution, in order to meet the needs of establishing a modern enterprise system, to regulate the organization and conduct of companies, to protect the lawful rights and interests of companies as well as the shareholders and creditors thereof, to maintain social and economic order, and to promote the development of the socialist market economy.
第二条：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。
Article 2 A company referred to herein means a limited liability company or a joint stock limited company established within China in accordance herewith.
第三条：有限责任公司和股份有限公司是企业法人。
Article 3 Limited liability companies and joint stock limited companies are enterprise legal persons.
有限责任公司，股东以其出资额为限对公司承担责任，公司以其全部资产对公司的债务承担责任。
In the case of a limited liability company, the shareholders are liable thereto to the extent of their capital contribution, and the company is liable for its debts to the extent of all of its assets.
股份有限公司，其全部资本分为等额股份，股东以其所持股份为限对公司承担责任，公司以其全部资产对公司的债务承担责任。
In the case of a joint stock limited company, its total capital is divided into stocks of equal value, and the shareholders are liable thereto to the extent of their share holdings, and the Company is liable for its debts to the extent of all of its assets.
第四条：公司股东作为出资者按投入公司的资本额享有所有者的资产受益、重大决策和选择管理者等权利。
Article 4 As contributors of capital, the shareholders of a company enjoy the rights of proprietors in proportion to their respective share of capital contributions to the company, such as deriving benefits from its assets, making major decisions, and selecting its management.
公司享有由股东投资形成的全部法人财产权，依法享有民事权利，承担民事责任。
The company enjoys the full property rights of a legal person in respect of assets resulting from the investment by its shareholders, and enjoys civil rights and bears civil liabilities in accordance with the law.
公司中的国有资产所有权属于国家。
Title to the state-owned assets in the company shall vest in the State.
第五条：公司以其全部法人财产，依法自主经营，自负盈亏。
Article 5 A company, with all of its assets owned by it as a legal person, shall operate autonomously and be responsible for its own profit and loss in accordance with the law.
公司在国家宏观调控下，按照市场需求自主组织生产经营，以提高经济效益、劳动生产率和实现资产保值增值为目的。
The company shall, under the state‘s macro-regulation, organize its production and operation autonomously in light of market demand, with a view to improving economic return and productivity, and accomplishing the preservation and increase of the value of its assets.
第六条：公司实行权责分明、管理科学、激励和约束相结合的内部管理体制。
Article 6 A company shall adopt an internal management system which clearly sets out the rights and responsibilities of the relevant parties, is conducive to scientific management, and combines incentive with check and balance.
第七条：国有企业改建为公司，必须依照法律、行政法规规定的条件和要求，转换经营机制，有步骤地清产核资，界定产权，清理债权债务，评估资产，建立规范的内部管理机构。
Article 7 If a state-owned enterprise is to be reorganized into a company, it must, in accordance with the conditions and requirements prescribed by national statutes and administrative regulations, change its operating mechanism, and orderly identify and verify its assets, determine the respective owners of the property rights therein, settle its creditor‘s rights and liabilities, conduct assets appraisal, and set up standard internal management organs.
第八条：设立有限责任公司、股份有限公司，必须符合本法规定的条件。符合本法规定的条件的，登记为有限责任公司或者股份有限公司；不符合本法规定的条件的，不得登记为有限责任公司或者股份有限公司。
Article 8 The establishment of a limited liability company or a joint stock limited company is subject to the requirements prescribed herein. An entity meeting the requirements prescribed herein may be registered as a limited liability company, or a joint stock limited company, as the case may be; an entity failing to meet the requirements prescribed herein may not be registered as a limited liability company, or a joint stock limited company, as the case may be.
法律、行政法规对设立公司规定必须报经审批的，在公司登记前依法办理审批手续。
Where the establishment of a company is subject to examination and approval as required by the relevant national statutes or administrative regulations, examination and approval procedure must be carried out in accordance with the law prior to its registration.
第九条：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字样。
Article 9 The name of a limited liability company established in accordance herewith must contain the words "limited liability company".
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字样。
The name of a joint stock limited company established in accordance herewith must contain the words "joint stock limited company".
第十条：公司以其主要办事机构所在地为住所。
Article 10 The Company shall be domiciled at the place where its principal executive office is located.
第十一条：设立公司必须依照本法制定公司章程。公司章程对公司、股东、董事、监事、经理具有约束力。
Article 11 In order to establish a company, its articles of association must be prepared in accordance herewith. The articles of association of the company are binding upon the company and its shareholders, directors, supervisors and general manager.
公司的经营范围由公司章程规定，并依法登记。公司的经营范围中属于法律、行政法规限制的项目，应当依法经过批准。
The company‘s business scope shall be prescribed by its articles of association and be registered in accordance with the law. If an item in the Company‘s business scope is subject to any restriction prescribed by any national statute or administrative regulation, approval for such item shall be obtained in accordance with the law.
公司应当在登记的经营范围内从事经营活动。公司依照法定程序修改公司章程并经公司登记机关变更登记，可以变更其经营范围。
The company shall conduct its business within its registered business scope. The Company may change its business scope by amending its articles of association in accordance with legally prescribed procedure and registering such amendment with the company registration authority.
第十二条：公司可以向其他有限责任公司、股份有限公司投资，并以该出资额为限对所投资公司承担责任。
Article 12 A Company may invest in another limited liability company or joint stock limited company, and is liable to such company to the extent of its capital contribution.
公司向其他有限责任公司、股份有限公司投资的，除国务院规定的投资公司和控股公司外，所累计投资额不得超过本公司净资产的百分之五十，在投资后，接受被投资公司以利润转增的资本，其增加额不包括在内。
Except for an investment company or a holding company stipulated by the State Council, where a company is to invest in other limited liability companies or joint stock limited companies, its cumulative investment may not exceed 50 percent of its net assets, provided that if after the investment, the capital is increased using profit distribution received from the company in which it invested, the increased amount shall not be included.
第十三条：公司可以设立分公司，分公司不具有企业法人资格，其民事责任由公司承担。
Article 13 A company may establish branch companies, which do not have the status of enterprise legal persons, and the civil liabilities thereof shall be borne by the company.
公司可以设立子公司，子公司具有企业法人资格，依法独立承担民事责任。
The company may establish subsidiary companies, which have the status of enterprise legal persons and bear civil liabilities independently in accordance with the law.
第十四条：公司从事经营活动，必须遵守法律，遵守职业道德，加强社会主义精神文明建设，接受政府和社会公众的监督。
Article 14 In conducting its business, a company must abide by the law, observe industry ethics, strengthen the development of socialist spiritual civilization, and subject itself to supervision by the government and the public.
公司的合法权益受法律保护，不受侵犯。
The company‘s lawful rights and interests are protected by law and shall not be infringed upon.
第十五条：公司必须保护职工的合法权益，加强劳动保护，实现安全生产。
Article 15 A company must protect the lawful rights and interests of its workers, strengthen labor protection, and achieve workplace safety.
公司采用多种形式，加强公司职工的职业教育和岗位培训，提高职工素质。
The company shall strengthen the professional education and on the job training of its workers in various forms, so as to improve their quality.
第十六条：公司职工依法组织工会，开展工会活动，维护职工的合法权益。公司应当为本公司工会提供必要的活动条件。
Article 16 The workers of a company shall organize a labor union, which shall conduct union activities and safeguard the lawful rights and interests of the workers in accordance with the law. The Company shall provide the necessary conditions for its labor union to conduct its activities.
国有独资公司和两个以上的国有企业或者其他两个以上的国有投资主体投资设立的有限责任公司，依照宪法和有关法律的规定，通过职工代表大会和其他形式，实行民主管理。
In accordance with the Constitution and other relevant national statutes, democratic management in the form of workers‘ assembly and other forms shall be adopted in a wholly state-owned company or a limited liability company established through investment by two or more state-owned enterprises or by two or more state-owned investment entities of other kinds.
第十七条：公司中中国*基层组织的活动，依照中国*章程办理。
Article 17 Activities of the elementary-level cell of the Chinese Communist Party in a company shall be conducted in accordance with the Charter of the Chinese Communist Party.
第十八条：外商投资的有限责任公司适用本法，有关中外合资经营企业、中外合作经营企业、外资企业的法律另有规定的，适用其规定。
Article 18 Limited liability companies with foreign investment are subject to this Law, provided that where the provisions of national statutes governing Sino-foreign equity joint venture enterprises, Sino-foreign cooperative joint venture enterprises, and wholly foreign owned enterprises stipulate otherwise, the stipulations therein shall prevail.
第二章：有限责任公司的设立和组织机构
Chapter Two: Establishment And Organs Of A Limited Liability Company
第一节：设立
Section One Establishment
第十九条：设立有限责任公司，应当具备下列条件：
Article 19 The establishment of a limited liability company is subject to the following conditions:
（一）股东符合法定人数；
(i) The number of shareholders meets legal requirement;
（二）股东出资达到法定资本最低限额；
(ii) The amount of shareholders‘ capital contribution reaches the minimum level prescribed by law;
（三）股东共同制定公司章程；
(iii) The shareholders jointly prepare the articles of association;
（四）有公司名称，建立符合有限责任公司要求的组织机构；
(iv) There is a company name, and the organs meeting the requirements for a limited liability company are established;
（五）有固定的生产经营场所和必要的生产经营条件。
(v) There is a permanent place of business and there are necessary conditions for production and operation.
第二十条：有限责任公司由二个以上五十个以下股东共同出资设立。
Article 20 A limited liability company shall be established through joint investment by not fewer than 2 but not more than 50 shareholders.
国家授权投资的机构或者国家授权的部门可以单独投资设立国有独资的有限责任公司。
A state authorized investment entity or state authorized department may establish wholly state-owned limited liability companies as the sole investor.
第二十一条：本法施行前已设立的国有企业，符合本法规定设立有限责任公司条件的，单一投资主体的，可以依照本法改建为国有独资的有限责任公司；多个投资主体的，可以改建为前条第一款规定的有限责任公司。
Article 21 In the case of a state-owned enterprise established before this Law becomes operative, if it meets the conditions prescribed herein for the establishment of a limited liability company, it may be reorganized into a wholly state-owned limited liability company in accordance herewith if it was established by a single investment entity, or it may be reorganized into a limited liability company pursuant to Paragraph 1 of the previous Article if it was established by more than one investment entities.
国有企业改建为公司的实施步骤和具体办法，由国务院另行规定。
The implementing procedures and detailed measures for reorganizing state-owned enterprises into companies shall be separately prescribed by the State Council.
第二十二条：有限责任公司章程应当载明下列事项：
Article 22 The articles of association of a limited liability company shall set forth the following:
（一）公司名称和住所；
(i) its name and domicile;
（二）公司经营范围；
(ii) its business scope;
（三）公司注册资本；
(iii) its registered capital;
（四）股东的姓名或者名称；
(iv) the names of its shareholders;
（五）股东的权利和义务；
(v) the rights and obligations of its shareholders;
（六）股东的出资方式和出资额；
(vi) the forms and amounts of capital contribution made by shareholders;
（七）股东转让出资的条件；
(vii) the conditions under which the shareholders‘ shares of capital contribution may be assigned;
（八）公司的机构及其产生办法、职权、议事规则；
(viii) its organs, the manners in which they are established and their respective powers, and the rules governing their conduct of business;
（九）公司的法定代表人；
(ix) its legal representative;
（十）公司的解散事由与清算办法；
(x) the causes for its dissolution and the method for its liquidation;
（十一）股东认为需要规定的其他事项。
(xi) other matters which shareholders deem necessary to provide for.
股东应当在公司章程上签名、盖章。
Shareholders shall sign or impress their chops on the articles of association.
第二十三条：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实缴的出资额。
Article 23 The registered capital of a limited liability company is the amount of capital contribution actually paid up by all shareholders and registered with the company registration authority.
有限责任公司的注册资本不得少于下列最低限额：
The registered capital of a limited liability company shall not be less than:
（一）以生产经营为主的公司人民币五十万元；
(i) Renminbi 500,000 Yuan if it primarily engages in production;
（二）以商品批发为主的公司人民币五十万元；
(ii) Renminbi 500,000 Yuan if it primarily engages in commodity wholesale;
（三）以商业零售为主的公司人民币三十万元；
(iii) Renminbi 300,000 Yuan if it primarily engages in commodity retail;
（四）科技开发、咨询、服务性公司人民币十万元。
(iv) Renminbi 100,000 Yuan if it engages in scientific and technical development, consulting or service.
特定行业的有限责任公司注册资本最低限额需高于前款所定限额的，由法律、行政法规另行规定。
If for a specific industry, the required minimum registered capital exceeds any of the minimum levels prescribed above, such minimum requirement shall be separately prescribed by the relevant national statute or administrative regulations.
第二十四条：股东可以用货币出资，也可以用实物、工业产权、非专利技术、土地使用权作价出资。对作为出资的实物、工业产权、非专利技术或者土地使用权，必须进行评估作价，核实财产，不得高估或者低估作价。土地使用权的评估作价，依照法律、行政法规的规定办理。
Article 24 Shareholders may contribute their capital in the form of cash, as well as in the forms of tangible goods, industrial property, non-patented technology and land use rights at certain value. If any tangible goods, industrial property, non-patented technology or land use rights are contributed as capital, they must be appraised and the property rights therein must be verified, and the contributed items may not be over-valued or under-valued. Appraisal on land use rights shall be carried out in accordance with the provisions of the relevant national statute and administrative regulations.
以工业产权、非专利技术作价出资的金额不得超过有限责任公司注册资本的百分之二十，国家对采用高新技术成果有特别规定的除外。
Where industrial property or non-patented technology is contributed as capital at certain value, its valuation shall not exceed 20 percent of the total registered capital, except where the state makes special provisions for companies utilizing high and new technologies.
第二十五条：股东应当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准备设立的有限责任公司在银行开设的临时帐户；以实物、工业产权、非专利技术或者土地使用权出资的，应当依法办理其财产权的转移手续。
Article 25 Each shareholder shall invest in full the capital contribution which he has subscribed for in accordance with the articles of association. If a shareholder makes his capital contribution in cash, he shall deposit in full the amount of such cash capital contribution into a temporary bank account opened for the contemplated limited liability company; If capital contribution is made in the form of tangible goods, industrial property, non-patented technology or land use rights, the appropriate transfer procedure for the property rights therein shall be carried out in accordance with the law.
股东不按照前款规定缴纳所认缴的出资，应当向已足额缴纳出资的股东承担违约责任。
A shareholder who fails to invest the capital contribution which he has subscribed for in accordance with the previous Paragraph is liable for breach of contract to those shareholders who have invested in full the capital contribution they have subscribed for.
第二十六条：股东全部缴纳出资后，必须经法定的验资机构验资并出具证明。
Article 26 Upon investment in full of their respective capital contribution by the shareholders, a legally-prescribed capital verification institution must carry out capital verification procedure and issue a certificate.
第二十七条：股东的全部出资经法定的验资机构验资后，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申请设立登记，提交公司登记申请书、公司章程、验资证明等文件。
Article 27 After a legally-prescribed capital verification institution has verified the shareholders‘ full capital contribution, a representative designated by all shareholders or the agent appointed jointly thereby shall apply to the company registration authority for establishment registration and submit thereto documents such as the company registration application form, the articles of association, and the capital verification certificate, etc.
法律、行政法规规定需要经有关部门审批的，应当在申请设立登记时提交批准文件。
Where approval by the relevant authority is required by the relevant national statute or administrative regulations, the approval document shall be submitted at the time of applying for establishment registration.
公司登记机关对符合本法规定条件的，予以登记，发给公司营业执照；对不符合本法规定条件的，不予登记。
The company registration authority shall grant registration to an applicant who meets the requirements prescribed herein and shall issue a company business license, and shall not grant registration to an applicant who fails to meet the requirements prescribed herein.
公司营业执照签发日期，为有限责任公司成立日期。
The date of issuance of a company business license shall be the establishment date for a limited liability company.
第二十八条：有限责任公司成立后，发现作为出资的实物、工业产权、非专利技术、土地使用权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交其差额，公司设立时的其他股东对其承担连带责任。
Article 28 If after the establishment of a limited liability company, it is discovered that the actual value of the tangible goods, industrial property, non-patented technology, or land use rights contributed as capital is significantly below their value fixed in the articles of association, the shareholder who contributed such item as capital shall contribute the difference in value, and the other shareholders of the company at the time it was established shall be jointly and severally liable.
第二十九条：设立有限责任公司的同时设立分公司的，应当就所设分公司向公司登记机关申请登记，领取营业执照。
Article 29 Where a branch company is to be established contemporaneous with the establishment of a limited liability company, an application for registration of such branch company shall be submitted to the company registration authority, and it shall be issued a business license.
有限责任公司成立后设立分公司，应当由公司法定代表人向公司登记机关申请登记，领取营业执照。
Where a branch company is to be established after the establishment of the limited liability company, the company‘s legal representative shall apply to the company registration authority for registration of such branch company, and it shall be issued a business license.
第三十条：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：
Article 30 Upon the establishment of a limited liability company, each shareholder shall be issued a capital contribution certificate, which shall set forth the following:
（一）公司名称；
(i) the name of the company;
（二）公司登记日期；
(ii) the date of registration of the company;
（三）公司注册资本；
(iii) the company‘s registered capital;
（四）股东的姓名或者名称、缴纳的出资额和出资日期；
(iv) the name of the shareholder, the amount of his capital contribution, and the date of capital contribution;
（五）出资证明书的编号和核发日期。
(v) the serial number and date of issuance of the capital contribution certificate.
出资证明书由公司盖章。
The company‘s chop shall be impressed on each capital contribution certificate.
第三十一条：有限责任公司应当置备股东名册，记载下列事项：
Article 31 A limited liability company shall maintain a record of shareholders, which shall set forth the following:
1股东的姓名或者名称及住所；
(i) the name of each shareholder and the domicile thereof;
（二）股东的出资额；
(ii) the amount of capital contribution invested by each shareholder;
（三）出资证明书编号。
(iii) the serial number of each capital contribution certificate.
第三十二条：股东有权查阅股东会会议记录和公司财务会计报告。
Article 32 Shareholders are entitled to inspect the minutes of meetings of shareholder committee as well as the financial and accounting reports of the company.
第三十三条：股东按照出资比例分取红利。公司新增资本时，股东可以优先认缴出资。
Article 33 Shareholders shall share in the distribution of profits in proportion to their respective shares of capital contribution. Where the company is to increase its capital, its shareholders have the preemptive right to subscribe for the increased amount.
第三十四条：股东在公司登记后，不得抽回出资。
Article 34 A shareholder may not withdraw its capital contribution after registration of the company.
第三十五条：股东之间可以相互转让其全部出资或者部分出资。
Article 35 Shareholders may assign in whole or part their respective shares of capital contribution amongst themselves.
股东向股东以外的人转让其出资时，必须经全体股东过半数同意；不同意转让的股东应当购买该转让的出资，如果不购买该转让的出资，视为同意转让。
Transfer of his share of capital contribution by a shareholder to anyone other than another shareholder is subject to consent by a majority of all the shareholders; shareholders who do not consent to the transfer shall purchase the share of capital contribution to be assigned, and failure by those shareholders to make such purchase is deemed to be their consent to the assignment.
经股东同意转让的出资，在同等条件下，其他股东对该出资有优先购买权。
Where the shareholders consent to the assignment of share of capital contribution, other shareholders have the preemptive right of purchase under the same conditions.
第三十六条：股东依法转让其出资后，由公司将受让人的姓名或者名称、住所以及受让的出资额记载于股东名册。
Article 36 Upon a shareholder‘s lawful assignment of his share of capital contribution, the company shall record on the record of shareholders the name of the assignee, the domicile thereof and the amount of capital assigned thereto.
第二节：组织机构
Section Two Organs
第三十七条：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 37 The shareholders‘ committee of a limited liability company consists of all the shareholders, and the shareholders‘ committee is the company‘s organ of authority, and shall exercise its powers in accordance herewith.
第三十八条：股东会行使下列职权：
Article 38 The shareholders‘ committee shall exercise the following powers:
（一）决定公司的经营方针和投资计划；
(i) determining the company‘s operational guidelines and investment plans;
（2）选举和更换董事，决定有关董事的报酬事项；
(ii) electing and replacing directors, and deciding upon matters relating to their remuneration;
（三）选举和更换由股东代表出任的监事，决定有关监事的报酬事项；
(iii) electing and replacing supervisors who represent the shareholders, and deciding upon matters relating to the remuneration of supervisors;
（四）审议批准董事会的报告；
(iv) considering and approving reports by the board of directors;
（五）审议批准监事会或者监事的报告；
(v) considering and approving reports by the board of supervisors or the supervisor, as the case may be;
（六）审议批准公司的年度财务预算方案、决算方案；
(vi) considering and approving annual financial budget plans and final accounting plans of the company;
（7）审议批准公司的利润分配方案和弥补亏损方案；
(vii) considering and approving company profit distribution plans and plans to cover company losses;
（8）对公司增加或者减少注册资本作出决议；
(viii) adopting resolutions relating to increase or reduction of the company‘s registered capital;
（9）对发行公司债券作出决议；
(ix) adopting resolutions relating to issuance of company bonds;
（十）对股东向股东以外的人转让出资作出决议；
(x) adopting resolutions relating to assignment of share of capital contribution by a shareholder to anyone other than a shareholder of the company;
（十一）对公司合并、分立、变更公司形式、解散和清算等事项作出决议；
(xi) adopting resolutions relating to merger, division, change of corporate form, dissolution and liquidation of the company;
（十二）修改公司章程。
(xii) amending the articles of association.
第三十九条：股东会的议事方式和表决程序，除本法有规定的以外，由公司章程规定。
Article 39 Unless otherwise provided herein, the method for conducting business and voting procedure at a meeting of shareholders‘ committee shall be prescribed by the articles of association.
股东会对公司增加或者减少注册资本、分立、合并、解散或者变更公司形式作出决议，必须经代表三分之二以上表决权的股东通过。
Any resolution adopted by the shareholders‘ committee relating to the company‘s increase or reduction of registered capital, division, merger, dissolution or change of corporate form requires affirmative votes by shareholders representing two-thirds of the votes.
第四十条：公司可以修改章程。修改公司章程的决议，必须经代表三分之二以上表决权的股东通过。
Article 40 A company may amend its articles of association. Adoption of a resolution to amend the articles of association requires affirmative votes by shareholders representing two-thirds of the votes.
第四十一条：股东会会议由股东按照出资比例行使表决权。
Article 41 Shareholders shall exercise their voting rights at the meeting of shareholders‘ committee in proportion to their respective shares of capital contribution.
第四十二条：股东会的首次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 42 The first meeting of shareholders committee shall be called and presided over by the shareholder with the largest share of capital contribution, and shall exercise its powers in accordance herewith.
第四十三条：股东会会议分为定期会议和临时会议。
Article 43 Meetings of shareholders committee are classified as either regular meetings or interim meetings.
定期会议应当按照公司章程的规定按时召开。代表四分之一以上表决权的股东，三分之一以上董事，或者监事，可以提议召开临时会议。
Regular meetings shall be timely held as prescribed in the articles of association. Shareholders representing one-fourth or more of the votes, or one-third of the directors or supervisors, may propose for an interim meeting.
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，董事长因特殊原因不能履行职务时，由董事长指定的副董事长或者其他董事主持。
Where a limited liability company has a board of directors, a meeting of shareholders committee shall be called by the board, and presided over by the chairman of the board; where the chairman is unable to perform his duties due to any special reason, the meeting shall be presided over by the vice-chairman or another director appointed by the chairman.
第四十四条：召开股东会会议，应当于会议召开十五日以前通知全体股东。
Article 44 In order to hold a meeting of shareholders committee, notice shall be given to all shareholders 15 days in advance.
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。
The shareholders‘ committee shall prepare minutes regarding the decisions on matters considered at the meeting of shareholders committee, which shall be signed by the shareholders attending the meeting.
第四十五条：有限责任公司设董事会，其成员为三人至十三人。
Article 45 A limited liability company shall have a board of directors, which shall be composed of not fewer than 3 but not more than 13 directors.
两个以上的国有企业或者其他两个以上的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。董事会中的职工代表由公司职工民主选举产生。
Where a limited liability company has been established through investment by two or more state-owned enterprises, or by two or more state-owned investment entities of other kinds, there shall be representative(s) of the workers of the company on the board of directors. The representative(s) of the workers on the board shall be democratically elected by the workers of the company.
董事会设董事长一人，可以设副董事长一至二人。董事长、副董事长的产生办法由公司章程规定。
The board shall have one chairman, and may have one to two vice-chairmen. The manner in which the chairman and vice-chairman are selected shall be prescribed by the articles of association.
董事长为公司的法定代表人。
The chairman is the legal representative of the company.
第四十六条：董事会对股东会负责，行使下列职权：
Article 46 The board of directors is accountable to the shareholders‘ committee, and shall exercise the following powers:
（一）负责召集股东会，并向股东会报告工作；
(i) being responsible for calling meetings of shareholders committee and presenting reports thereto;
（二）执行股东会的决议；
(ii) implementing resolutions adopted by the shareholders‘ committee;
（3）决定公司的经营计划和投资方案；
(iii) determining the company‘s operational plans and investment programs;
（四）制订公司的年度财务预算方案、决算方案；
(iv) preparing annual financial budget plans and final accounting plans of the company;
（5）制订公司的利润分配方案和弥补亏损方案；
(v) preparing profit distribution plans and plans to cover company losses;
（六）制订公司增加或者减少注册资本的方案；
(vi) preparing plans for increasing or reducing registered capital of the company;
（七）拟订公司合并、分立、变更公司形式、解散的方案；
(vii) drafting plans for merger, division, change of corporate form or dissolution of the company;
（八）决定公司内部管理机构的设置；
(viii) determining the structure of the company‘s internal management;
（九）聘任或者解聘公司经理（总经理）（以下简称经理），根据经理的提名，聘任或者解聘公司副经理、财务负责人，决定其报酬事项；
(ix) appointing or removing the manager (general manager) (Hereinafter referred to as the "general manager") of the company, appointing or removing, upon the general manager‘s recommendation, deputy managers of the company and the officer in charge of finance, and determining the remuneration for those officers;
（10）制定公司的基本管理制度。
(x) formulating the basic management scheme of the company.
第四十七条：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。
Article 47 The term of the directors shall be prescribed by the articles of association, provided that each term may not exceed 3 years. A director may continue to serve his post if he is re-elected upon the expiration of his term.
董事在任期届满前，股东会不得无故解除其职务。
Prior to expiration of a director‘s term, the shareholders‘ committee may not remove him without cause.
第四十八条：董事会会议由董事长召集和主持；董事长因特殊原因不能履行职务时，由董事长指定副董事长或者其他董事召集和主持。三分之一以上董事可以提议召开董事会会议。
Article 48 A meeting of the board of directors shall be called and presided over by the chairman; in the event that the chairman is unable to perform his duties due to any special reason, the chairman shall appoint the vice-chairman or another director to call and preside over the meeting. One-third or more of the directors may propose for a meeting of the board.
第四十九条：董事会的议事方式和表决程序，除本法有规定的以外，由公司章程规定。
Article 49 Unless otherwise provided herein, the method for conducting business and voting procedure at the meeting of board of directors shall be prescribed by the articles of association.
召开董事会会议，应当于会议召开十日以前通知全体董事。
In order to hold a board meeting, notice shall be given to all directors 10 days in advance.
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。
The board shall prepare minutes relating to the decisions on matters considered at the meeting, which shall be signed by the directors attending the meeting.
第五十条：有限责任公司设经理，由董事会聘任或者解聘。经理对董事会负责，行使下列职权：
Article 50 A limited liability company shall have a general manager, to be appointed or removed by the board of directors. The general manager is accountable to the board and shall exercise the following powers:
（1）主持公司的生产经营管理工作，组织实施董事会决议；
(i) being in charge of the management of the company‘s production and operation, and organizing the implementation of board resolutions;
（二）组织实施公司年度经营计划和投资方案；
(ii) organizing the implementation of annual operating plans and investment programs of the company;
（三）拟订公司内部管理机构设置方案；
(3) preparing the plan for the structure of the company‘s internal management;
（4）拟订公司的基本管理制度；
(iv) preparing the basic management scheme of the company;
（5）制定公司的具体规章；
(v) formulating detailed company rules;
（6）提请聘任或者解聘公司副经理、财务负责人；
(vi) recommending the appointment or removal of a deputy general manager and the officer in charge of finance;
（七）聘任或者解聘除应由董事会聘任或者解聘以外的负责管理人员；
(vii) appointing and removing officers of the company other than those to be appointed or removed by the board;
8 公司章程和董事会授予的其他职权。
(viii) other powers prescribed by the articles of association or delegated by the board.
经理列席董事会会议。
The general manager shall be present at board meetings.
第五十一条：有限责任公司，股东人数较少和规模较小的，可以设一名执行董事，不设立董事会。执行董事可以兼任公司经理。
Article 51 A small-scaled limited liability company with only a few shareholders may have an executive director without establishing a board of directors. The executive director may serve concurrently as the general manager of the company.
执行董事的职权，应当参照本法第四十六条规定，由公司章程规定。
The powers of the executive director shall be prescribed in the articles of association by reference to the provisions of Article 46 hereof.
有限责任公司不设董事会的，执行董事为公司的法定代表人。
Absent a board of directors, the executive director of a limited liability company shall be the legal representative thereof.
第五十二条：有限责任公司，经营规模较大的，设立监事会，其成员不得少于三人。监事会应在其组成人员中推选一名召集人。
Article 52 A large-scaled limited liability company shall have a board of supervisors, which shall be composed of not fewer than 3 members. The board of supervisors shall elect one of its members as the person responsible for calling meetings.
监事会由股东代表和适当比例的公司职工代表 组成，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民主选举产生。
The board of supervisors shall be composed of shareholders‘ representative(s) and representative(s) of the workers‘ of the company at an appropriate ratio to be specifically prescribed in the articles of association. The workers‘ representative(s) on the board of supervisors shall be democratically elected by the workers of the company.
有限责任公司，股东人数较少和规模较小的，可以设一至二名监事。
A small-scaled limited liability company with only a few shareholders may have one or two supervisors.
董事、经理及财务负责人不得兼任监事。
A director, the general manager and the officer in charge of finance may not serve concurrently as a supervisor.
第五十三条：监事的任期每届为三年。监事任期届满，连选可以连任。
Article 53 Each term of a supervisor shall be 3 years, and a supervisor may continue to serve his post upon expiration of his term if he is re-elected.
第五十四条：监事会或者监事行使下列职权：
Article 54 The board of supervisors or the supervisor, as the case may be, shall exercise the following authorities:
（一）检查公司财务；
(i) reviewing the financial affairs of the company;
（二）对董事、经理执行公司职务时违反法律、法规或者公司章程的行为进行监督；
(ii) monitoring the acts of the directors or the general manager to guard against violation of national statutes, administrative regulations or the articles of association in the course of performance of their duties;
（3）当董事和经理的行为损害公司的利益时，要求董事和经理予以纠正。
(iii) requiring the directors or the general manager to make rectification when any act thereof causes harm to company interests;
（四）提议召开临时股东会；
(iv) proposing for interim meetings of shareholders‘ committee;
（五）公司章程规定的其他职权。
(v) other authorities prescribed by the articles of association.
监事列席董事会会议。
The supervisors shall be present at board meetings.
第五十五条：公司研究决定有关职工工资、福利、安全生产以及劳动保护、劳动保险等涉及职工切身利益的问题，应当事先听取公司工会和职工的意见，并邀请工会或者职工代表列席有关会议。
Article 55 When a company considers and decides upon matters which affect the personal interests of its workers, such as their wages, benefits, production safety and labor protection, or labor insurance, it shall first hear the opinions of the labor union and the workers of the company, and invite representatives of the labor union or the workers to be present at related meetings.
第五十六条：公司研究决定生产经营的重大问题、制定重要的规章制度时，应当听取公司工会和职工的意见和建议。
Article 56 When a company considers and decides upon major matters relating to its production and operation, or formulates important rules and standards, it shall hear the opinions and suggestions of the labor union and the workers.
第五十七条：有下列情形之一的，不得担任公司的董事、监事、经理：
Article 57 A person in any of the following categories may not serve as a director, supervisor, or the general manager of a company:
（一）无民事行为能力或者限制民事行为能力；
(i) without civil capacity or with limited civil capacity;
（二）因犯有贪污、贿赂、侵占财产、挪用财产罪或者破坏社会经济秩序罪，被判处刑罚，执行期满未逾五年，或者因犯罪被剥夺政治权利，执行期满未逾五年；
(ii) having been sentenced to prison for the following crimes, and completion of the sentence being less than 5 years ago: embezzlement, bribery, conversion of property, misappropriation of property, sabotage of social economic order; or having been deprived of political rights as a result of a criminal conviction, and completion of such sanction being less than 5 years ago;
（三）担任因经营不善破产清算的公司、企业的董事或者厂长、经理，并对该公司、企业的破产负有个人责任的，自该公司、企业破产清算完结之日起未逾三年；
(3) having served as a director, the factory chief, or the general manager of a company or enterprise which underwent bankruptcy liquidation as a result of mismanagement, and being personally responsible for such bankruptcy, and completion of the bankruptcy liquidation being less than 3 years ago;
（四）担任因违法被吊销营业执照的公司、企业的法定代表人，并负有个人责任的，自该公司、企业被吊销营业执照之日起未逾三年；
(4) having served as the legal representative of a company or enterprise whose business license was revoked due to its violation of law, and being personally responsible for such revocation, and such revocation occurring less than 3 years ago;
（五）个人所负数额较大的债务到期未清偿。
(5) in default of personal debt of a significant amount.
公司违反前款规定选举、委派董事、监事或者聘任经理的，该选举、委派或者聘任无效。
If the company elects or appoints a director or supervisor or employs the general manager in violation of the above Paragraph, such election, appointment or employment is invalid.
第五十八条：国家公务员不得兼任公司的董事、监事、经理。
Article 58 No public servant may concurrently serve as a director, supervisor or the general manager of a company.
第五十九条：董事、监事、经理应当遵守公司章程，忠实履行职务，维护公司利益，不得利用在公司的地位和职权为自己谋取私利。
Article 59 A directors, supervisor, or the general manager shall abide by the articles of association, faithfully perform their duties, and safeguard the interests of the company, and may not abuse their positions and authorities at the company for private gain.
董事、监事、经理不得利用职权收受贿赂或者其他非法收入，不得侵占公司的财产。
A directors, supervisor, or the general manager may not abuse their authorities by accepting bribes or generating other illegal income, and may not convert company property.
第六十条：董事、经理不得挪用公司资金或者将公司资金借贷给他人。
Article 60 A director or the general manager may not misappropriate company funds or loan company funds to other people.
董事、经理不得将公司资产以其个人名义或者以其他个人名义开立帐户存储。
A director or the general manager may not deposit company assets into an account in his own name or in any other individual‘s name.
董事、经理不得以公司资产为本公司的股东或者其他个人债务提供担保。
A director or the general manager may not give company assets as security for the debt of a shareholder or any other individual.
第六十一条：董事、经理不得自营或者为他人经营与其所任职公司同类的营业或者从事损害本公司利益的活动。从事上述营业或者活动的，所得收入应当归公司所有。
Article 61 A director or the general manager may not engage in the same business as the company in which he serves as a director or the general manager either for his own account or for any other person‘s account, or engage in any activity detrimental to company interests. If a director or the general manager engages in any of the above mentioned business or activity, any income so derived shall be turned over to the company.
董事、经理除公司章程规定或者股东会同意外，不得同本公司订立合同或者进行交易。
Unless otherwise provided in the articles of association or otherwise agreed by the shareholders‘ committee, a director or the general manager may not execute any contract or engage in any transaction with the company.
第六十二条：董事、监事、经理除依照法律规定或者经股东会同意外，不得泄露公司秘密。
Article 62 Unless required by law or consented to by the shareholders‘ committee, a director, supervisor, or the general manager may not disclose the company‘s confidential information.
第六十三条：董事、监事、经理执行公司职务时违反法律、行政法规或者公司章程的规定，给公司造成损害的，应当承担赔偿责任。
Article 63 If a director, supervisor or the general manager causes detriment to the company while performing his duties in violation of any national statute, administrative regulation or the articles of association, he shall be liable for the loss so caused.
第三节：国有独资公司
Section Three Wholly State-owned Companies
第六十四条：本法所称国有独资公司是指国家授权投资的机构或者国家授权的部门单独投资设立的有限责任公司。
Article 64 A wholly state-owned company referred to herein means a limited liability company established through sole investment by a state authorized investment entity or state authorized department.
国务院确定的生产特殊产品的公司或者属于特定行业的公司，应当采取国有独资公司形式。
Companies designated by the State Council to produce special products or in special industries shall adopt the form of a wholly state-owned company.
第六十五条：国有独资公司的公司章程由国家授权投资的机构或者国家授权的部门依照本法制定，或者由董事会制订，报国家授权投资的机构或者国家授权的部门批准。
Article 65 The articles of association of a wholly state-owned company may be formulated by the state authorized investment entity or state authorized department in accordance with the provisions hereof, or may be prepared by its board of directors and submitted to the state authorized investment entity or state authorized department for approval.
第六十六条：国有独资公司不设股东会，由国家授权投资的机构或者国家授权的部门，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、增减资本和发行公司债券，必须由国家授权投资的机构或者国家授权的部门决定。
Article 66 A wholly state-owned company shall not have a shareholders‘ committee, and the state authorized investment entity or state authorized department shall authorize the board of directors to exercise part of the authorities of the shareholders‘ committee, and to decide on major matters of the company, provided that matters such as merger, division or dissolution of the company, capital increase or reduction by the company, and issue of company bonds must be decided by the state authorized investment entity or state authorized department.
第六十七条：国有独资公司监事会主要由国务院或者国务院授权的机构、部门委派的人员组成，并有公司职工代表参加。监事会的成员不得少于三人。监事会行使本法第五十四条第一款第（一）、（二）项规定的职权和国务院规定的其他职权。
Article 67 (Amended) The Supervisory Committee of a wholly State-owed Company shall comprise personnel appointed by the State Council or agencies or departments, and staff representative(s). There shall be no fewer than three supervisors. The Supervisory Committee shall exercise the authorities enumerated in Items (i) and (ii) of Paragraph 1 of Article 54 hereof, as well as other authorities granted by the State Council.
监事列席董事会会议。
The supervisors shall be present at the meetings of board of directors.
董事、经理 及 财务负责人不得兼任监事。
A director, the manager and the person in charge of finance shall not serve as a supervisor concurrently.
第六十八条：国有独资公司设立董事会，依照本法第四十六条、第六十六条规定行使职权。董事会每届任期为三年。
Article 68 A wholly state-owned company shall have a board of directors, which shall perform its duties in accordance with the provisions of Article 46 and Article 66 hereof. Each term of the board of directors shall be 3 years.
公司董事会成员为三人至九人，由国家授权投资的机构或者国家授权的部门按照董事会的任期委派或者更换。董事会成员中应当有公司职工代表。董事会中的职工代表由公司职工民主选举产生。
There shall be not fewer than 3 but not more than 9 members on the board, to be appointed or replaced by the state authorized investment entity or state authorized department according to the terms of the board. There shall be representative(s) of the workers on the board. The workers‘ representative(s) on the board shall be democratically elected by the workers.
董事会设董事长一人，可以视需要设副董事长。董事长、副董事长，由国家授权投资的机构或者国家授权的部门从董事会成员中指定。
The board of directors shall have a chairman, and if needed, a vice-chairman. The chairman and vice-chairman shall be appointed by the state authorized investment entity or state authorized department from the board members.
董事长为公司的法定代表人。
The chairman of the board is the legal representative of the company.
第六十九条：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。
Article 69 A wholly state-owned company shall have a general manager, to be appointed or removed by the board of directors. The general manager shall perform his duties in accordance with the provisions of Article 50 hereof.
经国家授权投资的机构或者国家授权的部门同意，董事会成员可以兼任经理。
If approved by the state authorized investment entity or state authorized department, a board member may serve concurrently as the general manager.
第七十条：国有独资公司的董事长、副董事长、董事、经理，未经国家授权投资的机构或者国家授权的部门同意，不得兼任其他有限责任公司、股份有限公司或者其他经营组织的负责人。
Article 70 Absent approval by the state authorized investment entity or state authorized department, the chairman, vice-chairman, a director, or the general manager may not serve concurrently as the person in charge of any other limited liability company, joint stock limited company or any other business organization.
第七十一条：国有独资公司的资产转让，依照法律、行政法规的规定，由国家授权投资的机构或者国家授权的部门办理审批和财产权转移手续。
Article 71 In the case of assignment of the assets of a wholly state-owned company, the state authorized investment entity or state authorized department shall carry out examination and approval, and the formalities for transfer of property rights shall be carried out in accordance with the relevant national statutes and administrative regulations.