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According to <Reform Proposal for Register Capital Registration System> by the State Council,the new subscribe capital system will be put into effect since March First.
One,Shareholders' subscribed capital contribution (register capital) should be registered at the Administrative Authority of Industrial and Commercial.Shareholders of a limited company should take responsibility of their company in accordance with their capital contributions,and the company should publish all shareholders' amount of capital contribution,forms of contribution,time limit of contribution and contribution status to the public through the Public System of Market Entity Credit Information. Shareholders must be responsible for the authenticity and legitimacy of the contributed capital status. Paid-up capital will no longer be a registration item and capital verification will be no longer needed through company's registration.
Two,Broaden company registration requirements. Except special industries which was listed by relevant laws and regulations by the State Council,there will be no minimum register capital limit. That including 30,000RMB minimum register capital for limited company,100,000RMB minimum register capital for one-person limited company and 5 million RMB for joint-stock limited company. All three minimum register capital limits are no longer exist. Also,there will be no limitations of shareholders' (investors') minimum initial capital contribution,amount of currency contribution and contribution proportion. Shareholders (investors) must pay-up all subscribed capital will no longer stand.
Remark: 27 industries which is not listed in the subscribe capital contribution system:
1. Joint-stock Limited Company which was established by raising capital;
2. Commercial Bank;
3. Foreign Capital Bank;
4. Financial Asset Management Enterprise;
5. Trust Company;
6. Financial Company;
7. Financial Leasing Company;
8. Auto Financing Company;
9. Consumer Finance Company;
10. Currency Brokerage Company;
11. Rural Bank;
12. Loan Company;
13. Rural Credit Cooperative;
14. Rural Capital Supporting Cooperative;
15. Securities Company;
16. Futures Company;
17. Fund Management Company;
18. Insurance Company;
19. Insurance Professional Agency,Insurance Broker;
20. Foreign Capital Insurance Company;
21. Direct Selling Company;
22. Foreign Labor Cooperation Enterprise;
23. Financing Guarantee Company.
24 Labor Dispatching Company
25 Pawn Shop
26 Insurance Asset Management Company
27 Small Loan Company