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公司法
THE COMPANY LAW OF THE PEOPLE'S REPUBLIC OF CHINA
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目錄：
TABLE OF CONTENTS
第一章：總則Chapter One： General Provisions
第二章：有限責(zé)任公司的設(shè)立和組織機構(gòu)Chapter Two： Establishment and Organs of Limited Liability
Company
第一節(jié)：設(shè)立Section One Establishment
第二節(jié)：組織機構(gòu)Section Two Organs
第三節(jié)：國有獨資公司Section Three. Wholly State-owned Company
第三章：股份有限公司的設(shè)立和組織機構(gòu)Chapter Three： Establishment and Organs of Joint Stock
Limited Company
第一節(jié)：設(shè)立Section One. Establishment
第二節(jié)：股東大會Section Two. Shareholders' general committee
第三節(jié)：董事會、經(jīng)理Section Three. Board Of Directors And General Manager
第四節(jié)：監(jiān)事會Section Four. Board Of Supervisors
第四章：股份有限公司的股份發(fā)行和轉(zhuǎn)讓Chapter Four： Issue and Transfer of Shares of Joint Stock
Limited Company
第一節(jié)：股份發(fā)行Section One. Issue Of Shares
第二節(jié)：股份轉(zhuǎn)讓Section Two. Transfer Of Shares
第三節(jié)：上市公司Section Three. Listed Company
第五章：公司債券Chapter Five： Company Bonds
第六章：公司財務(wù)、會計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：公司破產(chǎn)、解散和清算Chapter Eight： Bankruptcy， Dissolution and Liquidation of
Company
第九章：外國公司的分支機構(gòu)Chapter Nine： Branch of Foreign Company
第十章：法律責(zé)任Chapter Ten： Legal Liabilities
第十一章：附則Chapter Eleven： Supplementary Provisions
第一章：總則Chapter One： General Provisions
第一條：為了適應(yīng)建立現(xiàn)代企業(yè)制度的需要，規(guī)范公司的組織和行為，保護公司、股東和債權(quán)人的合法權(quán)益，維護社會經(jīng)濟秩序，促進社會主義市場經(jīng)濟的發(fā)展，根據(jù)憲法，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.
第二條：本法所稱公司是指依照本法在中國境內(nèi)設(shè)立的有限責(zé)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.
第三條：有限責(zé)任公司和股份有限公司是企業(yè)法人。
Article 3 Limited liability companies and joint stock limited companies are
enterprise legal persons.
有限責(zé)任公司，股東以其出資額為限對公司承擔(dān)責(zé)任，公司以其全部資產(chǎn)對公司的債務(wù)承擔(dān)責(zé)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，其全部資本分為等額股份，股東以其所持股份為限對公司承擔(dān)責(zé)任，公司以其全部資產(chǎn)對公司的債務(wù)承擔(dān)責(zé)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.
第四條：公司股東作為出資者按投入公司的資本額享有所有者的資產(chǎn)受益、重大決策和選擇管理者等權(quán)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.
公司享有由股東投資形成的全部法人財產(chǎn)權(quán)，依法享有民事權(quán)利，承擔(dān)民事責(zé)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.
公司中的國有資產(chǎn)所有權(quán)屬于國家。
Title to the state-owned assets in the company shall vest in the State.
第五條：公司以其全部法人財產(chǎn)，依法自主經(jīng)營，自負盈虧。
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.
公司在國家宏觀調(diào)控下，按照市場需求自主組織生產(chǎn)經(jīng)營，以提高經(jīng)濟效益、勞動生產(chǎn)率和實現(xiàn)資產(chǎn)保值增值為目的。
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.
第六條：公司實行權(quán)責(zé)分明、管理科學(xué)、激勵和約束相結(jié)合的內(nèi)部管理體制。
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.
第七條：國有企業(yè)改建為公司，必須依照法律、行政法規(guī)規(guī)定的條件和要求，轉(zhuǎn)換經(jīng)營機制，有步驟地清產(chǎn)核資，界定產(chǎn)權(quán)，清理債權(quán)債務(wù)，評估資產(chǎn)，建立規(guī)范的內(nèi)部管理機構(gòu)。
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.
第八條：設(shè)立有限責(zé)任公司、股份有限公司，必須符合本法規(guī)定的條件。符合本法規(guī)定的條件的，登記為有限責(zé)任公司或者股份有限公司；不符合本法規(guī)定的條件的，不得登記為有限責(zé)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、行政法規(guī)對設(shè)立公司規(guī)定必須報經(jīng)審批的，在公司登記前依法辦理審批手續(xù)。
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.
第九條：依照本法設(shè)立的有限責(zé)任公司，必須在公司名稱中標明有限責(zé)任公司字樣。
Article 9 The name of a limited liability company established in accordance
herewith must contain the words “l(fā)imited liability company”。
依照本法設(shè)立的股份有限公司，必須在公司名稱中標明股份有限公司字樣。
The name of a joint stock limited company established in accordance herewith
must contain the words “joint stock limited company”。
第十條：公司以其主要辦事機構(gòu)所在地為住所。
Article 10 The Company shall be domiciled at the place where its principal
executive office is located.
第十一條：設(shè)立公司必須依照本法制定公司章程。公司章程對公司、股東、董事、監(jiān)事、經(jīng)理具有約束力。
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.
公司的經(jīng)營范圍由公司章程規(guī)定，并依法登記。公司的經(jīng)營范圍中屬于法律、行政法規(guī)限制的項目，應(yīng)當(dāng)依法經(jīng)過批準。
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.
公司應(yīng)當(dāng)在登記的經(jīng)營范圍內(nèi)從事經(jīng)營活動。公司依照法定程序修改公司章程并經(jīng)公司登記機關(guān)變更登記，可以變更其經(jīng)營范圍。
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.
第十二條：公司可以向其他有限責(zé)任公司、股份有限公司投資，并以該出資額為限對所投資公司承擔(dān)責(zé)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.
公司向其他有限責(zé)任公司、股份有限公司投資的，除國務(wù)院規(guī)定的投資公司和控股公司外，所累計投資額不得超過本公司凈資產(chǎn)的百分之五十，在投資后，接受被投資公司以利潤轉(zhuǎn)增的資本，其增加額不包括在內(nèi)。
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.
第十三條：公司可以設(shè)立分公司，分公司不具有企業(yè)法人資格，其民事責(zé)任由公司承擔(dān)。
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.
公司可以設(shè)立子公司，子公司具有企業(yè)法人資格，依法獨立承擔(dān)民事責(zé)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.
第十四條：公司從事經(jīng)營活動，必須遵守法律，遵守職業(yè)道德，加強社會主義精神文明建設(shè)，接受政府和社會公眾的監(jiān)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.
公司的合法權(quán)益受法律保護，不受侵犯。
The company's lawful rights and interests are protected by law and shall not
be infringed upon.
第十五條：公司必須保護職工的合法權(quán)益，加強勞動保護，實現(xiàn)安全生產(chǎn)。
Article 15 A company must protect the lawful rights and interests of its
workers， strengthen labor protection， and achieve workplace safety.
公司采用多種形式，加強公司職工的職業(yè)教育和崗位培訓(xùn)，提高職工素質(zhì)。
The company shall strengthen the professional education and on the job
training of its workers in various forms， so as to improve their quality.
第十六條：公司職工依法組織工會，開展工會活動，維護職工的合法權(quán)益。公司應(yīng)當(dāng)為本公司工會提供必要的活動條件。
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.
國有獨資公司和兩個以上的國有企業(yè)或者其他兩個以上的國有投資主體投資設(shè)立的有限責(zé)任公司，依照憲法和有關(guān)法律的規(guī)定，通過職工代表大會和其他形式，實行民主管理。
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.
第十七條：公司中中國*基層組織的活動，依照中國*章程辦理。
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.
第十八條：外商投資的有限責(zé)任公司適用本法，有關(guān)中外合資經(jīng)營企業(yè)、中外合作經(jīng)營企業(yè)、外資企業(yè)的法律另有規(guī)定的，適用其規(guī)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：有限責(zé)任公司的設(shè)立和組織機構(gòu)Chapter Two： Establishment And Organs Of A Limited Liability
Company
第一節(jié)：設(shè)立Section One Establishment
第十九條：設(shè)立有限責(zé)任公司，應(yīng)當(dāng)具備下列條件：
Article 19 The establishment of a limited liability company is subject to the
following conditions：
?。ㄒ唬┕蓶|符合法定人數(shù)；
?。╥） The number of shareholders meets legal requirement；
?。ǘ┕蓶|出資達到法定資本最低限額；
（ii） The amount of shareholders' capital contribution reaches the minimum
level prescribed by law；
（三）股東共同制定公司章程；
?。╥ii） The shareholders jointly prepare the articles of association；
?。ㄋ模┯泄久Q，建立符合有限責(zé)任公司要求的組織機構(gòu)；
?。╥v） There is a company name， and the organs meeting the requirements for a
limited liability company are established；
?。ㄎ澹┯泄潭ǖ纳a(chǎn)經(jīng)營場所和必要的生產(chǎn)經(jīng)營條件。
?。╲） There is a permanent place of business and there are necessary conditions
for production and operation.
第二十條：有限責(zé)任公司由二個以上五十個以下股東共同出資設(shè)立。
Article 20 A limited liability company shall be established through joint
investment by not fewer than 2 but not more than 50 shareholders.
國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門可以單獨投資設(shè)立國有獨資的有限責(zé)任公司。
A state authorized investment entity or state authorized department may
establish wholly state-owned limited liability companies as the sole investor.
第二十一條：本法施行前已設(shè)立的國有企業(yè)，符合本法規(guī)定設(shè)立有限責(zé)任公司條件的，單一投資主體的，可以依照本法改建為國有獨資的有限責(zé)任公司；多個投資主體的，可以改建為前條第一款規(guī)定的有限責(zé)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.
國有企業(yè)改建為公司的實施步驟和具體辦法，由國務(wù)院另行規(guī)定。
The implementing procedures and detailed measures for reorganizing state-owned
enterprises into companies shall be separately prescribed by the State Council.
第二十二條：有限責(zé)任公司章程應(yīng)當(dāng)載明下列事項：
Article 22 The articles of association of a limited liability company shall
set forth the following：
（一）公司名稱和住所；
?。╥） its name and domicile；
?。ǘ┕窘?jīng)營范圍；
?。╥i） its business scope；
（三）公司注冊資本；
（iii） its registered capital；
?。ㄋ模┕蓶|的姓名或者名稱；
（iv） the names of its shareholders；
（五）股東的權(quán)利和義務(wù)；
?。╲） the rights and obligations of its shareholders；
?。┕蓶|的出資方式和出資額；
?。╲i） the forms and amounts of capital contribution made by shareholders；
?。ㄆ撸┕蓶|轉(zhuǎn)讓出資的條件；
?。╲ii） the conditions under which the shareholders' shares of capital
contribution may be assigned；
?。ò耍┕镜臋C構(gòu)及其產(chǎn)生辦法、職權(quán)、議事規(guī)則；
（viii） its organs， the manners in which they are established and their
respective powers， and the rules governing their conduct of business；
?。ň牛┕镜姆ǘù砣?；
（ix） its legal representative；
?。ㄊ┕镜慕馍⑹掠膳c清算辦法；
?。▁） the causes for its dissolution and the method for its liquidation；
?。ㄊ唬┕蓶|認為需要規(guī)定的其他事項。
?。▁i） other matters which shareholders deem necessary to provide for.
股東應(yīng)當(dāng)在公司章程上簽名、蓋章。
Shareholders shall sign or impress their chops on the articles of association.
第二十三條：有限責(zé)任公司的注冊資本為在公司登記機關(guān)登記的全體股東實繳的出資額。
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.
有限責(zé)任公司的注冊資本不得少于下列最低限額：
The registered capital of a limited liability company shall not be less than：
?。ㄒ唬┮陨a(chǎn)經(jīng)營為主的公司人民幣五十萬元；
（i） Renminbi 500，000 Yuan if it primarily engages in production；
?。ǘ┮陨唐放l(fā)為主的公司人民幣五十萬元；
?。╥i） Renminbi 500，000 Yuan if it primarily engages in commodity wholesale；
?。ㄈ┮陨虡I(yè)零售為主的公司人民幣三十萬元；
?。╥ii） Renminbi 300，000 Yuan if it primarily engages in commodity retail；
?。ㄋ模┛萍奸_發(fā)、咨詢、服務(wù)性公司人民幣十萬元。
?。╥v） Renminbi 100，000 Yuan if it engages in scientific and technical
development， consulting or service.
特定行業(yè)的有限責(zé)任公司注冊資本最低限額需高于前款所定限額的，由法律、行政法規(guī)另行規(guī)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.
第二十四條：股東可以用貨幣出資，也可以用實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)、土地使用權(quán)作價出資。對作為出資的實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)或者土地使用權(quán)，必須進行評估作價，核實財產(chǎn)，不得高估或者低估作價。土地使用權(quán)的評估作價，依照法律、行政法規(guī)的規(guī)定辦理。
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.
以工業(yè)產(chǎn)權(quán)、非專利技術(shù)作價出資的金額不得超過有限責(zé)任公司注冊資本的百分之二十，國家對采用高新技術(shù)成果有特別規(guī)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.
第二十五條：股東應(yīng)當(dāng)足額繳納公司章程中規(guī)定的各自所認繳的出資額。股東以貨幣出資的，應(yīng)當(dāng)將貨幣出資足額存入準備設(shè)立的有限責(zé)任公司在銀行開設(shè)的臨時帳戶；以實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)或者土地使用權(quán)出資的，應(yīng)當(dāng)依法辦理其財產(chǎn)權(quán)的轉(zhuǎn)移手續(xù)。
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.
股東不按照前款規(guī)定繳納所認繳的出資，應(yīng)當(dāng)向已足額繳納出資的股東承擔(dān)違約責(zé)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.
第二十六條：股東全部繳納出資后，必須經(jīng)法定的驗資機構(gòu)驗資并出具證明。
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.
第二十七條：股東的全部出資經(jīng)法定的驗資機構(gòu)驗資后，由全體股東指定的代表或者共同委托的代理人向公司登記機關(guān)申請設(shè)立登記，提交公司登記申請書、公司章程、驗資證明等文件。
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、行政法規(guī)規(guī)定需要經(jīng)有關(guān)部門審批的，應(yīng)當(dāng)在申請設(shè)立登記時提交批準文件。
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.
公司登記機關(guān)對符合本法規(guī)定條件的，予以登記，發(fā)給公司營業(yè)執(zhí)照；對不符合本法規(guī)定條件的，不予登記。
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.
公司營業(yè)執(zhí)照簽發(fā)日期，為有限責(zé)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.
第二十八條：有限責(zé)任公司成立后，發(fā)現(xiàn)作為出資的實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)、土地使用權(quán)的實際價額顯著低于公司章程所定價額的，應(yīng)當(dāng)由交付該出資的股東補交其差額，公司設(shè)立時的其他股東對其承擔(dān)連帶責(zé)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.
第二十九條：設(shè)立有限責(zé)任公司的同時設(shè)立分公司的，應(yīng)當(dāng)就所設(shè)分公司向公司登記機關(guān)申請登記，領(lǐng)取營業(yè)執(zhí)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.
有限責(zé)任公司成立后設(shè)立分公司，應(yīng)當(dāng)由公司法定代表人向公司登記機關(guān)申請登記，領(lǐng)取營業(yè)執(zhí)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.
第三十條：有限責(zé)任公司成立后，應(yīng)當(dāng)向股東簽發(fā)出資證明書。出資證明書應(yīng)當(dāng)載明下列事項：
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）公司名稱；
?。╥） the name of the company；
?。ǘ┕镜怯浫掌冢?
?。╥i） the date of registration of the company；
?。ㄈ┕咀再Y本；
?。╥ii） the company's registered capital；
?。ㄋ模┕蓶|的姓名或者名稱、繳納的出資額和出資日期；
?。╥v） the name of the shareholder， the amount of his capital contribution， and
the date of capital contribution；
（五）出資證明書的編號和核發(fā)日期。
?。╲） the serial number and date of issuance of the capital contribution
certificate.
出資證明書由公司蓋章。
The company's chop shall be impressed on each capital contribution
certificate.
第三十一條：有限責(zé)任公司應(yīng)當(dāng)置備股東名冊，記載下列事項：
Article 31 A limited liability company shall maintain a record of
shareholders， which shall set forth the following：
1股東的姓名或者名稱及住所；
?。╥） the name of each shareholder and the domicile thereof；
?。ǘ┕蓶|的出資額；
?。╥i） the amount of capital contribution invested by each shareholder；
?。ㄈ┏鲑Y證明書編號。
?。╥ii） the serial number of each capital contribution certificate.
第三十二條：股東有權(quán)查閱股東會會議記錄和公司財務(wù)會計報告。
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.
第三十三條：股東按照出資比例分取紅利。公司新增資本時，股東可以優(yōu)先認繳出資。
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.
第三十四條：股東在公司登記后，不得抽回出資。
Article 34 A shareholder may not withdraw its capital contribution after
registration of the company.
第三十五條：股東之間可以相互轉(zhuǎn)讓其全部出資或者部分出資。
Article 35 Shareholders may assign in whole or part their respective shares of
capital contribution amongst themselves.
股東向股東以外的人轉(zhuǎn)讓其出資時，必須經(jīng)全體股東過半數(shù)同意；不同意轉(zhuǎn)讓的股東應(yīng)當(dāng)購買該轉(zhuǎn)讓的出資，如果不購買該轉(zhuǎn)讓的出資，視為同意轉(zhuǎn)讓。
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.
經(jīng)股東同意轉(zhuǎn)讓的出資，在同等條件下，其他股東對該出資有優(yōu)先購買權(quán)。
Where the shareholders consent to the assignment of share of capital
contribution， other shareholders have the preemptive right of purchase under the
same conditions.
第三十六條：股東依法轉(zhuǎn)讓其出資后，由公司將受讓人的姓名或者名稱、住所以及受讓的出資額記載于股東名冊。
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.
第二節(jié)：組織機構(gòu)Section Two Organs
第三十七條：有限責(zé)任公司股東會由全體股東組成，股東會是公司的權(quán)力機構(gòu)，依照本法行使職權(quán)。
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.
第三十八條：股東會行使下列職權(quán)：
Article 38 The shareholders' committee shall exercise the following powers：
?。ㄒ唬Q定公司的經(jīng)營方針和投資計劃；
?。╥） determining the company's operational guidelines and investment plans；
?。?）選舉和更換董事，決定有關(guān)董事的報酬事項；
?。╥i） electing and replacing directors， and deciding upon matters relating to
their remuneration；
（三）選舉和更換由股東代表出任的監(jiān)事，決定有關(guān)監(jiān)事的報酬事項；
?。╥ii） electing and replacing supervisors who represent the shareholders， and
deciding upon matters relating to the remuneration of supervisors；
?。ㄋ模徸h批準董事會的報告；
（iv） considering and approving reports by the board of directors；
?。ㄎ澹徸h批準監(jiān)事會或者監(jiān)事的報告；
（v） considering and approving reports by the board of supervisors or the
supervisor， as the case may be；
?。徸h批準公司的年度財務(wù)預(yù)算方案、決算方案；
（vi） considering and approving annual financial budget plans and final
accounting plans of the company；
（7）審議批準公司的利潤分配方案和彌補虧損方案；
?。╲ii） considering and approving company profit distribution plans and plans to
cover company losses；
?。?）對公司增加或者減少注冊資本作出決議；
?。╲iii） adopting resolutions relating to increase or reduction of the company's
registered capital；
?。?）對發(fā)行公司債券作出決議；
?。╥x） adopting resolutions relating to issuance of company bonds；
?。ㄊ蓶|向股東以外的人轉(zhuǎn)讓出資作出決議；
?。▁） adopting resolutions relating to assignment of share of capital
contribution by a shareholder to anyone other than a shareholder of the company；
?。ㄊ唬竞喜?、分立、變更公司形式、解散和清算等事項作出決議；
?。▁i） adopting resolutions relating to merger， division， change of corporate
form， dissolution and liquidation of the company；
（十二）修改公司章程。
?。▁ii） amending the articles of association.
第三十九條：股東會的議事方式和表決程序，除本法有規(guī)定的以外，由公司章程規(guī)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.
股東會對公司增加或者減少注冊資本、分立、合并、解散或者變更公司形式作出決議，必須經(jīng)代表三分之二以上表決權(quán)的股東通過。
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.
第四十條：公司可以修改章程。修改公司章程的決議，必須經(jīng)代表三分之二以上表決權(quán)的股東通過。
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.
第四十一條：股東會會議由股東按照出資比例行使表決權(quán)。
Article 41 Shareholders shall exercise their voting rights at the meeting of
shareholders' committee in proportion to their respective shares of capital
contribution.
第四十二條：股東會的首次會議由出資最多的股東召集和主持，依照本法規(guī)定行使職權(quán)。
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.
第四十三條：股東會會議分為定期會議和臨時會議。
Article 43 Meetings of shareholders committee are classified as either regular
meetings or interim meetings.
定期會議應(yīng)當(dāng)按照公司章程的規(guī)定按時召開。代表四分之一以上表決權(quán)的股東，三分之一以上董事，或者監(jiān)事，可以提議召開臨時會議。
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.
有限責(zé)任公司設(shè)立董事會的，股東會會議由董事會召集，董事長主持，董事長因特殊原因不能履行職務(wù)時，由董事長指定的副董事長或者其他董事主持。
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.
第四十四條：召開股東會會議，應(yīng)當(dāng)于會議召開十五日以前通知全體股東。
Article 44 In order to hold a meeting of shareholders committee， notice shall
be given to all shareholders 15 days in advance.
股東會應(yīng)當(dāng)對所議事項的決定作成會議記錄，出席會議的股東應(yīng)當(dāng)在會議記錄上簽名。
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.
第四十五條：有限責(zé)任公司設(shè)董事會，其成員為三人至十三人。
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.
兩個以上的國有企業(yè)或者其他兩個以上的國有投資主體投資設(shè)立的有限責(zé)任公司，其董事會成員中應(yīng)當(dāng)有公司職工代表。董事會中的職工代表由公司職工民主選舉產(chǎn)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.
董事會設(shè)董事長一人，可以設(shè)副董事長一至二人。董事長、副董事長的產(chǎn)生辦法由公司章程規(guī)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.
董事長為公司的法定代表人。
The chairman is the legal representative of the company.
第四十六條：董事會對股東會負責(zé)，行使下列職權(quán)：
Article 46 The board of directors is accountable to the shareholders'
committee， and shall exercise the following powers：
（一）負責(zé)召集股東會，并向股東會報告工作；
?。╥） being responsible for calling meetings of shareholders committee and
presenting reports thereto；
?。ǘ﹫?zhí)行股東會的決議；
?。╥i） implementing resolutions adopted by the shareholders' committee；
?。?）決定公司的經(jīng)營計劃和投資方案；
（iii） determining the company's operational plans and investment programs；
?。ㄋ模┲朴喒镜哪甓蓉攧?wù)預(yù)算方案、決算方案；
?。╥v） preparing annual financial budget plans and final accounting plans of the
company；
?。?）制訂公司的利潤分配方案和彌補虧損方案；
?。╲） preparing profit distribution plans and plans to cover company losses；
?。┲朴喒驹黾踊蛘邷p少注冊資本的方案；
?。╲i） preparing plans for increasing or reducing registered capital of the
company；
?。ㄆ撸M訂公司合并、分立、變更公司形式、解散的方案；
?。╲ii） drafting plans for merger， division， change of corporate form or
dissolution of the company；
?。ò耍Q定公司內(nèi)部管理機構(gòu)的設(shè)置；
?。╲iii） determining the structure of the company's internal management；
?。ň牛┢溉位蛘呓馄腹窘?jīng)理（總經(jīng)理）（以下簡稱經(jīng)理），根據(jù)經(jīng)理的提名，聘任或者解聘公司副經(jīng)理、財務(wù)負責(zé)人，決定其報酬事項；
（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；
?。?0）制定公司的基本管理制度。
?。▁） formulating the basic management scheme of the company.
第四十七條：董事任期由公司章程規(guī)定，但每屆任期不得超過三年。董事任期屆滿，連選可以連任。
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.
董事在任期屆滿前，股東會不得無故解除其職務(wù)。
Prior to expiration of a director's term， the shareholders' committee may not
remove him without cause.
第四十八條：董事會會議由董事長召集和主持；董事長因特殊原因不能履行職務(wù)時，由董事長指定副董事長或者其他董事召集和主持。三分之一以上董事可以提議召開董事會會議。
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.
第四十九條：董事會的議事方式和表決程序，除本法有規(guī)定的以外，由公司章程規(guī)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.
召開董事會會議，應(yīng)當(dāng)于會議召開十日以前通知全體董事。
In order to hold a board meeting， notice shall be given to all directors 10
days in advance.
董事會應(yīng)當(dāng)對所議事項的決定作成會議記錄，出席會議的董事應(yīng)當(dāng)在會議記錄上簽名。
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.
第五十條：有限責(zé)任公司設(shè)經(jīng)理，由董事會聘任或者解聘。經(jīng)理對董事會負責(zé)，行使下列職權(quán)：
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）主持公司的生產(chǎn)經(jīng)營管理工作，組織實施董事會決議；
（i） being in charge of the management of the company's production and
operation， and organizing the implementation of board resolutions；
?。ǘ┙M織實施公司年度經(jīng)營計劃和投資方案；
?。╥i） organizing the implementation of annual operating plans and investment
programs of the company；
?。ㄈM訂公司內(nèi)部管理機構(gòu)設(shè)置方案；
?。?） preparing the plan for the structure of the company's internal management；
?。?）擬訂公司的基本管理制度；
（iv） preparing the basic management scheme of the company；
?。?）制定公司的具體規(guī)章；
?。╲） formulating detailed company rules；
（6）提請聘任或者解聘公司副經(jīng)理、財務(wù)負責(zé)人；
?。╲i） recommending the appointment or removal of a deputy general manager and
the officer in charge of finance；
?。ㄆ撸┢溉位蛘呓馄赋龖?yīng)由董事會聘任或者解聘以外的負責(zé)管理人員；
?。╲ii） appointing and removing officers of the company other than those to be
appointed or removed by the board；
8 公司章程和董事會授予的其他職權(quán)。
?。╲iii） other powers prescribed by the articles of association or delegated by
the board.
經(jīng)理列席董事會會議。
The general manager shall be present at board meetings.
第五十一條：有限責(zé)任公司，股東人數(shù)較少和規(guī)模較小的，可以設(shè)一名執(zhí)行董事，不設(shè)立董事會。執(zhí)行董事可以兼任公司經(jīng)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.
執(zhí)行董事的職權(quán)，應(yīng)當(dāng)參照本法第四十六條規(guī)定，由公司章程規(guī)定。
The powers of the executive director shall be prescribed in the articles of
association by reference to the provisions of Article 46 hereof.
有限責(zé)任公司不設(shè)董事會的，執(zhí)行董事為公司的法定代表人。
Absent a board of directors， the executive director of a limited liability
company shall be the legal representative thereof.
第五十二條：有限責(zé)任公司，經(jīng)營規(guī)模較大的，設(shè)立監(jiān)事會，其成員不得少于三人。監(jiān)事會應(yīng)在其組成人員中推選一名召集人。
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.
監(jiān)事會由股東代表和適當(dāng)比例的公司職工代表 組成，具體比例由公司章程規(guī)定，監(jiān)事會中的職工代表由公司職工民主選舉產(chǎn)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.
有限責(zé)任公司，股東人數(shù)較少和規(guī)模較小的，可以設(shè)一至二名監(jiān)事。
A small-scaled limited liability company with only a few shareholders may have
one or two supervisors.
董事、經(jīng)理及財務(wù)負責(zé)人不得兼任監(jiān)事。
A director， the general manager and the officer in charge of finance may not
serve concurrently as a supervisor.
第五十三條：監(jiān)事的任期每屆為三年。監(jiān)事任期屆滿，連選可以連任。
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.
第五十四條：監(jiān)事會或者監(jiān)事行使下列職權(quán)：
Article 54 The board of supervisors or the supervisor， as the case may be，
shall exercise the following authorities：
?。ㄒ唬z查公司財務(wù)；
?。╥） reviewing the financial affairs of the company；
?。ǘΧ?、經(jīng)理執(zhí)行公司職務(wù)時違反法律、法規(guī)或者公司章程的行為進行監(jiān)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；
?。?）當(dāng)董事和經(jīng)理的行為損害公司的利益時，要求董事和經(jīng)理予以糾正。
?。╥ii） requiring the directors or the general manager to make rectification
when any act thereof causes harm to company interests；
?。ㄋ模┨嶙h召開臨時股東會；
?。╥v） proposing for interim meetings of shareholders' committee；
?。ㄎ澹┕菊鲁桃?guī)定的其他職權(quán)。
?。╲） other authorities prescribed by the articles of association.
監(jiān)事列席董事會會議。
The supervisors shall be present at board meetings.
第五十五條：公司研究決定有關(guān)職工工資、福利、安全生產(chǎn)以及勞動保護、勞動保險等涉及職工切身利益的問題，應(yīng)當(dāng)事先聽取公司工會和職工的意見，并邀請工會或者職工代表列席有關(guān)會議。
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.
第五十六條：公司研究決定生產(chǎn)經(jīng)營的重大問題、制定重要的規(guī)章制度時，應(yīng)當(dāng)聽取公司工會和職工的意見和建議。
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.
第五十七條：有下列情形之一的，不得擔(dān)任公司的董事、監(jiān)事、經(jīng)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：
?。ㄒ唬o民事行為能力或者限制民事行為能力；
?。╥） without civil capacity or with limited civil capacity；
?。ǘ┮蚍赣胸澪?、賄賂、侵占財產(chǎn)、挪用財產(chǎn)罪或者破壞社會經(jīng)濟秩序罪，被判處刑罰，執(zhí)行期滿未逾五年，或者因犯罪被剝奪政治權(quán)利，執(zhí)行期滿未逾五年；
?。╥i） 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；
?。ㄈ?dān)任因經(jīng)營不善破產(chǎn)清算的公司、企業(yè)的董事或者廠長、經(jīng)理，并對該公司、企業(yè)的破產(chǎn)負有個人責(zé)任的，自該公司、企業(yè)破產(chǎn)清算完結(jié)之日起未逾三年；
?。?） 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；
?。ㄋ模?dān)任因違法被吊銷營業(yè)執(zhí)照的公司、企業(yè)的法定代表人，并負有個人責(zé)任的，自該公司、企業(yè)被吊銷營業(yè)執(zhí)照之日起未逾三年；
?。?） 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；
?。ㄎ澹﹤€人所負數(shù)額較大的債務(wù)到期未清償。
?。?） in default of personal debt of a significant amount.
公司違反前款規(guī)定選舉、委派董事、監(jiān)事或者聘任經(jīng)理的，該選舉、委派或者聘任無效。
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.
第五十八條：國家公務(wù)員不得兼任公司的董事、監(jiān)事、經(jīng)理。
Article 58 No public servant may concurrently serve as a director， supervisor
or the general manager of a company.
第五十九條：董事、監(jiān)事、經(jīng)理應(yīng)當(dāng)遵守公司章程，忠實履行職務(wù)，維護公司利益，不得利用在公司的地位和職權(quán)為自己謀取私利。
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、監(jiān)事、經(jīng)理不得利用職權(quán)收受賄賂或者其他非法收入，不得侵占公司的財產(chǎn)。
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.
第六十條：董事、經(jīng)理不得挪用公司資金或者將公司資金借貸給他人。
Article 60 A director or the general manager may not misappropriate company
funds or loan company funds to other people.
董事、經(jīng)理不得將公司資產(chǎn)以其個人名義或者以其他個人名義開立帳戶存儲。
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、經(jīng)理不得以公司資產(chǎn)為本公司的股東或者其他個人債務(wù)提供擔(dān)保。
A director or the general manager may not give company assets as security for
the debt of a shareholder or any other individual.
第六十一條：董事、經(jīng)理不得自營或者為他人經(jīng)營與其所任職公司同類的營業(yè)或者從事?lián)p害本公司利益的活動。從事上述營業(yè)或者活動的，所得收入應(yīng)當(dāng)歸公司所有。
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、經(jīng)理除公司章程規(guī)定或者股東會同意外，不得同本公司訂立合同或者進行交易。
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.
第六十二條：董事、監(jiān)事、經(jīng)理除依照法律規(guī)定或者經(jīng)股東會同意外，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.
第六十三條：董事、監(jiān)事、經(jīng)理執(zhí)行公司職務(wù)時違反法律、行政法規(guī)或者公司章程的規(guī)定，給公司造成損害的，應(yīng)當(dāng)承擔(dān)賠償責(zé)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.
第三節(jié)：國有獨資公司Section Three Wholly State-owned Companies
第六十四條：本法所稱國有獨資公司是指國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門單獨投資設(shè)立的有限責(zé)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.
國務(wù)院確定的生產(chǎn)特殊產(chǎn)品的公司或者屬于特定行業(yè)的公司，應(yīng)當(dāng)采取國有獨資公司形式。
Companies designated by the State Council to produce special products or in
special industries shall adopt the form of a wholly state-owned company.
第六十五條：國有獨資公司的公司章程由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門依照本法制定，或者由董事會制訂，報國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門批準。
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.
第六十六條：國有獨資公司不設(shè)股東會，由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門，授權(quán)公司董事會行使股東會的部分職權(quán)，決定公司的重大事項，但公司的合并、分立、解散、增減資本和發(fā)行公司債券，必須由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門決定。
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.
第六十七條：國有獨資公司監(jiān)事會主要由國務(wù)院或者國務(wù)院授權(quán)的機構(gòu)、部門委派的人員組成，并有公司職工代表參加。監(jiān)事會的成員不得少于三人。監(jiān)事會行使本法第五十四條第一款第（一）、（二）項規(guī)定的職權(quán)和國務(wù)院規(guī)定的其他職權(quán)。
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.
監(jiān)事列席董事會會議。
The supervisors shall be present at the meetings of board of directors.
董事、經(jīng)理 及 財務(wù)負責(zé)人不得兼任監(jiān)事。
A director， the manager and the person in charge of finance shall not serve as
a supervisor concurrently.
第六十八條：國有獨資公司設(shè)立董事會，依照本法第四十六條、第六十六條規(guī)定行使職權(quán)。董事會每屆任期為三年。
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.
公司董事會成員為三人至九人，由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門按照董事會的任期委派或者更換。董事會成員中應(yīng)當(dāng)有公司職工代表。董事會中的職工代表由公司職工民主選舉產(chǎn)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.
董事會設(shè)董事長一人，可以視需要設(shè)副董事長。董事長、副董事長，由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門從董事會成員中指定。
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.
董事長為公司的法定代表人。
The chairman of the board is the legal representative of the company.
第六十九條：國有獨資公司設(shè)經(jīng)理，由董事會聘任或者解聘。經(jīng)理依照本法第五十條規(guī)定行使職權(quán)。
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.
經(jīng)國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門同意，董事會成員可以兼任經(jīng)理。
If approved by the state authorized investment entity or state authorized
department， a board member may serve concurrently as the general manager.
第七十條：國有獨資公司的董事長、副董事長、董事、經(jīng)理，未經(jīng)國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門同意，不得兼任其他有限責(zé)任公司、股份有限公司或者其他經(jīng)營組織的負責(zé)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.
第七十一條：國有獨資公司的資產(chǎn)轉(zhuǎn)讓，依照法律、行政法規(guī)的規(guī)定，由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門辦理審批和財產(chǎn)權(quán)轉(zhuǎn)移手續(xù)。
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.
第七十二條：經(jīng)營管理制度健全、經(jīng)營狀況較好的大型的國有獨資公司，可以由國務(wù)院授權(quán)行使資產(chǎn)所有者的權(quán)利。
Article 72 A large-scaled wholly state-owned company with sound operating and
management system and good operating condition may be authorized by the State
Council to exercise the proprietor's rights in respect of its assets.
第三章：股份有限公司的設(shè)立和組織機構(gòu)Chapter Three： Establishment And Organs Of A Joint Stock
Limited Company
第一節(jié)：設(shè)立Section One Establishment
第七十三條：設(shè)立股份有限公司，應(yīng)當(dāng)具備下列條件：
Article 73 The establishment of a joint stock limited company is subject to
the following conditions：
?。ㄒ唬┌l(fā)起人符合法定人數(shù)；
?。╥） The number of sponsors meets legal requirement；
?。ǘ┌l(fā)起人認繳和社會公開募集的股本達到法定資本最低限額；
?。╥i） The amount of capital stocks subscribed for by the sponsors and publicly
placed reaches the legally-prescribed minimum capital level；
（三）股份發(fā)行、籌辦事項符合法律規(guī)定；
?。╥ii） The issue of its shares and the preparation for its establishment comply
with the law；
?。ㄋ模┌l(fā)起人制訂公司章程，并經(jīng)創(chuàng)立大會通過；
?。╥v） The sponsors prepare the articles of association， and such articles of
association are adopted by the establishment meeting；
（五）有公司名稱，建立符合股份有限公司要求的組織機構(gòu)；
?。╲） There is a company name， and the organs complying with the requirements
for a joint stock limited company are established；
?。┯泄潭ǖ纳a(chǎn)經(jīng)營場所和必要的生產(chǎn)經(jīng)營條件。
（vi） There is a permanent place of business and there are necessary conditions
for production and operation.
第七十四條：股份有限公司的設(shè)立，可以采取發(fā)起設(shè)立或者募集設(shè)立的方式。
Article 74 A joint stock limited company may be established either by
sponsorship or public share offer.
發(fā)起設(shè)立，是指由發(fā)起人認購公司應(yīng)發(fā)行的全部股份而設(shè)立公司。
Establishment by sponsorship means establishment of the company through
subscription by the sponsors for all the shares to be issued by the company.
募集設(shè)立，是指由發(fā)起人認購公司應(yīng)發(fā)行股份的一部分，其余部分向社會公開募集而設(shè)立公司。
Establishment by public share offer means establishment of the company through
subscription by sponsors for part of the shares to be issued by the company， and
public placement of the remaining shares.
第七十五條：設(shè)立股份有限公司，應(yīng)當(dāng)有五人以上為發(fā)起人，其中須有過半數(shù)的發(fā)起人在中國境內(nèi)有住所。
Article 75 In order to establish a joint stock limited company， there shall be
not fewer than 5 sponsors， half of whom shall be domiciled in China.
國有企業(yè)改建為股份有限公司的，發(fā)起人可以少于五人，但應(yīng)當(dāng)采取募集設(shè)立方式。
In the case of reorganization of a state-owned enterprise into a joint stock
limited company， there may be fewer than 5 sponsors， provided that such joint
stock limited company shall be established by public share offer.
第七十六條：股份有限公司發(fā)起人，必須按照本法規(guī)定認購其應(yīng)認購的股份，并承擔(dān)公司籌辦事務(wù)。
Article 76 Sponsors of a joint stock limited company must subscribe for the
shares as required and conduct preparations for the establishment of the company
in accordance herewith.
第七十七條：股份有限公司的設(shè)立，必須經(jīng)過國務(wù)院授權(quán)的部門或者省級人民政府批準。
Article 77 Establishment of a joint stock limited company is subject to
approval by the department authorized by the State Council， or the People's
Government at the provincial level.
第七十八條：股份有限公司的注冊資本為在公司登記機關(guān)登記的實收股本總額。
Article 78 The registered capital of a joint stock limited company shall be
the total amount of share capital which is paid in and registered with the
company registration authority.
股份有限公司注冊資本的最低限額為人民幣一千萬元。股份有限公司注冊資本最低限額需高于上述所定限額的，由法律、行政法規(guī)另行規(guī)定。
The minimum registered capital of a joint stock limited company may not be
less than Renminbi 10，000，000 Yuan. Where the minimum level of registered
capital required for a joint stock limited company exceeds the minimum level
prescribed above， such minimum level shall be separately prescribed by the
relevant national statutes and administrative regulations.
第七十九條：股份有限公司章程應(yīng)當(dāng)載明下列事項：
Article 79 The articles of association of a joint stock limited company shall
set forth the following：
?。ㄒ唬┕久Q和住所；
?。╥） its name and domicile；
?。ǘ┕窘?jīng)營范圍；
（ii） its business scope；
（三）公司設(shè)立方式；
?。╥ii） the method for its establishment；
?。ㄋ模┕竟煞菘倲?shù)、每股金額和注冊資本；
?。╥v） the total number of shares of the company， the value of each share， and
the registered capital of the company；
?。ㄎ澹┌l(fā)起人的姓名或者名稱、認購的股份數(shù)；
?。╲） the names of the sponsors and the number of shares they have subscribed
for；
（六）股東的權(quán)利和義務(wù)；
?。╲i） the rights and obligations of shareholders；
?。ㄆ撸┒聲慕M成、職權(quán)、任期和議事規(guī)則；
?。╲ii） the composition of the board of directors， its authorities， term， and
rules of conducting business；
（八）公司法定代表人；
?。╲iii） its legal representative；
?。ň牛┍O(jiān)事會的組成、職權(quán)、任期和議事規(guī)則；
?。╥x） the composition of the board of supervisors， its authorities， term， and
rules of conducting business；
?。ㄊ┕纠麧櫡峙滢k法；
?。▁） the method for company profit distribution；
?。ㄊ唬┕镜慕馍⑹掠膳c清算辦法；
?。▁i） the causes for its dissolution and the method for its liquidation；
?。ㄊ┕镜耐ㄖ凸孓k法；
?。▁ii） the method for giving notice and making public announcement；
?。ㄊ┕蓶|大會認為需要規(guī)定的其他事項。
?。▁iii） other matters which the shareholders' general committee deems necessary
to provide for.
第八十條：發(fā)起人可以用貨幣出資，也可以用實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)、土地使用權(quán)作價出資。對作為出資的實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)或者土地使用權(quán)，必須進行評估作價，核實財產(chǎn)，并折合為股份。不得高估或者低估作價。土地使用權(quán)的評估作價，依照法律、行政法規(guī)的規(guī)定辦理。
Article 80 A sponsor may contribute his share capital in the form of cash， or
in the form of tangible goods， industrial property， non-patented technology or
land use rights at certain value. If share capital is contributed in the form of
tangible goods， industrial property， non-patented technology or land use rights，
they must be appraised and the property rights therein must be verified，
whereupon the value thereof shall be converted into shares. The contributed
items may not be overvalued or undervalued. The appraisal of land use rights
shall be carried out in accordance with the provisions of the relevant national
statutes and administrative regulations.
發(fā)起人以工業(yè)產(chǎn)權(quán)、非專利技術(shù)作價出資的金額不得超過股份有限公司注冊資本的百分之二十。
The value of the industrial property and non-patented technology contributed
as share capital by the sponsors shall not exceed 20 percent of the total
registered capital.
第八十一條：國有企業(yè)改建為股份有限公司時，嚴禁將國有資產(chǎn)低價折股、低價出售或者無償分給個人。
Article 81 In the case of reorganizing a state-owned enterprise into a joint
stock limited company， conversion of state assets into shares through
under-valuation， sale of state assets at low price， or distribution of state
assets to individuals without compensation are strictly prohibited.
第八十二條：以發(fā)起設(shè)立方式設(shè)立股份有限公司的，發(fā)起人以書面認足公司章程規(guī)定發(fā)行的股份后，應(yīng)即繳納全部股款；以實物、工業(yè)產(chǎn)權(quán)、非專利技術(shù)或者土地使用權(quán)抵作股款的，應(yīng)當(dāng)依法辦理其財產(chǎn)權(quán)的轉(zhuǎn)移手續(xù)。
Article 82 In the case of establishing a joint stock limited company by
sponsorship， upon the sponsors' full subscription in writing for the shares to
be issued as prescribed in the articles of association， the sponsors shall
promptly pay the share proceeds in full； where tangible goods， industrial
property， non-patented technology or land use rights are contributed in lieu of
money， the property rights therein shall be transferred in accordance with
legally prescribed procedures.
發(fā)起人交付全部出資后，應(yīng)當(dāng)選舉董事會和監(jiān)事會，由董事會向公司登記機關(guān)報送設(shè)立公司的批準文件、公司章程、驗資證明等文件，申請設(shè)立登記。
Upon full contribution of the share capital which the sponsors have subscribed
for， they shall elect members to the board of directors and the board of
supervisors， and the board of directors shall apply for establishment
registration by submitting the document approving the establishment of the
company， the articles of association， and the capital verification certificate，
etc. to the company registration authority.
第八十三條：以募集設(shè)立方式設(shè)立股份有限公司的，發(fā)起人認購的股份不得少于公司股份總數(shù)的百分之三十五，其余股份應(yīng)當(dāng)向社會公開募集。
Article 83 In the case of establishing a joint stock limited company by public
share offer， the shares subscribed for by the sponsors shall be not less than 35
percent of the total number of shares of the company， and the remaining shares
shall be openly offered to the public.
第八十四條：發(fā)起人向社會公開募集股份時，必須向國務(wù)院證券管理部門遞交募股申請，并報送下列主要文件：
Article 84 In offering shares to the public， the sponsors shall deliver an
application for public share offer to the securities regulatory authority under
the State Council， and submit thereto the following main documents：
?。ㄒ唬┡鷾试O(shè)立公司的文件；
（i） the document approving the establishment of the company；
（二）公司章程；
（ii） the articles of association；
（三）經(jīng)營估算書；
?。╥ii） the operating forecast report；
?。ㄋ模┌l(fā)起人姓名或者名稱，發(fā)起人認購的股份數(shù)、出資種類及驗資證明；
?。╥v） the names of the sponsors， the number of shares they have subscribed for，
the nature of their share capital contribution， and the capital verification
certificate；
（五）招股說明書；
?。╲） the prospectus；
?。┐展煽钽y行的名稱及地址；
?。╲i） the name and address of the depository bank for the share proceeds；
?。ㄆ撸┏袖N機構(gòu)名稱及有關(guān)的協(xié)議。
?。╲ii） the name of the underwriter and related agreements.
未經(jīng)國務(wù)院證券管理部門批準，發(fā)起人不得向社會公開募集股份。
Without approval by the securities regulatory authority under the State
Council， the sponsors my not offer shares to the public.
第八十五條：經(jīng)國務(wù)院證券管理部門批準，股份有限公司可以向境外公開募集股份，具體辦法由國務(wù)院作出特別規(guī)定。
Article 85 Upon approval by the securities regulatory authority under the
State Council， a joint stock limited company may offer shares to the public
overseas， and the detailed procedure shall be specially prescribed by the State
Council.
第八十六條：國務(wù)院證券管理部門對符合本法規(guī)定條件的募股申請，予以批準；對不符合本法規(guī)定的募股申請，不予批準。
Article 86 The securities regulatory authority under the State Council shall
approve an application for public share offer which meets the requirements
prescribed herein； and shall not approve any application for public share offer
which fails to meet the requirements prescribed herein.
對已作出的批準如發(fā)現(xiàn)不符合本法規(guī)定的，應(yīng)予撤銷。尚未募集股份的，停止募集；已經(jīng)募集的，認股人可以按照所繳股款并加算銀行同期存款利息，要求發(fā)起人返還。
If it is discovered that an approval given is not in compliance with the
requirements prescribed herein， it shall be revoked. Where no share has been
placed， such share offer shall be terminated； where shares have been placed， the
subscribers may demand that the sponsors return the share proceeds paid，
together with the interest thereon as if they have been deposited in a bank for
a like period.
第八十七條：招股說明書應(yīng)當(dāng)附有發(fā)起人制訂的公司章程，并載明下列事項：
Article 87 The prospectus shall be accompanied with the articles of
association prepared by the sponsors， and shall set forth the following：
?。ㄒ唬┌l(fā)起人認購的股份數(shù)；
?。╥） the number of shares subscribed for by the sponsors；
?。ǘ┟抗傻钠泵娼痤~和發(fā)行價格；
?。╥i） the par value and issuing price of each share；
?。ㄈo記名股票的發(fā)行總數(shù)；
?。╥ii） the total number of bearer share certificates issued；
?。ㄋ模┱J股人的權(quán)利、義務(wù)；
?。╥v） the rights and obligations of the subscribers；
?。ㄎ澹┍敬文脊傻钠鹬蛊谙藜坝馄谖茨甲銜r認股人可撤回所認股份的說明。
?。╲） the commencing time and expiration time of the share offer， and a
statement that in the event the shares have not be placed in full upon the
expiration time， the subscribers may revoke their share subscriptions.
第八十八條：發(fā)起人向社會公開募集股份，必須公告招股說明書，并制作認股書。認股書應(yīng)當(dāng)載明前條所列事項，由認股人填寫所認股數(shù)、金額、住所，并簽名、蓋章。認股人按照所認股數(shù)繳納股款。
Article 88 In a public share offer， the sponsors shall make the prospectus
available to the public and prepare the share subscription form. The share
subscription form shall contain the items listed in the previous Article， and a
subscriber shall fill in the following： the number of shares subscribed for， the
amount of share proceeds， and his or her domicile， and shall sign or impress his
chop on the form. A subscriber shall pay the share proceeds according to the
number of shares he has subscribed for.
第八十九條：發(fā)起人向社會公開募集股份，應(yīng)當(dāng)由依法設(shè)立的證券經(jīng)營機構(gòu)承銷，簽訂承銷協(xié)議。
Article 89 The sponsors' share offer to the public shall be underwritten by a
securities underwriter established in accordance with the law， and an
underwriting agreement shall be executed.
第九十條：發(fā)起人向社會公開募集股份，應(yīng)當(dāng)同銀行簽訂代收股款協(xié)議。
Article 90 When conducting public share offer， the sponsors shall execute an
agreement with a bank for deposit of share proceeds.
代收股款的銀行應(yīng)當(dāng)按照協(xié)議代收和保存股款，向繳納股款的認股人出具收款單據(jù)，并負有向有關(guān)部門出具收款證明的義務(wù)。
The depository bank shall collect and hold the share proceeds in accordance
with the agreement， and issue receipts to subscribers who have paid their share
proceeds， and is obligated to provide to the relevant authority a certificate
for receipt of share proceeds.
第九十一條：發(fā)行股份的股款繳足后，必須經(jīng)法定的驗資機構(gòu)驗資并出具證明。發(fā)起人應(yīng)當(dāng)在三十日內(nèi)主持召開公司創(chuàng)立大會。創(chuàng)立大會由認股人組成。
Article 91 After the proceeds from issue of the shares are paid in full， the
share capital must be verified by a legally-prescribed capital verification
institution and a certificate shall be issued thereby. Within 30 days， the
sponsors shall hold and preside over the establishment meeting， which is
composed of the subscribers.
發(fā)行的股份超過招股說明書規(guī)定的截止期限尚未募足的，或者發(fā)行股份的股款繳足后，發(fā)起人在三十日內(nèi)未召開創(chuàng)立大會的，認股人可以按照所繳股款并加算銀行同期存款利息，要求發(fā)起人返還。
If the issued shares are not fully placed upon expiration of the time limit
prescribed in the prospectus， or the sponsors fail to hold the establishment
meeting within 30 days of full payment of the proceeds from issue of the shares，
the subscribers may demand that the sponsors return the share proceeds paid，
together with the interest thereon as if they have been deposited in a bank for
a like period.
第九十二條：發(fā)起人應(yīng)當(dāng)在創(chuàng)立大會召開十五日前將會議日期通知各認股人或者予以公告。創(chuàng)立大會應(yīng)有代表股份總數(shù)二分之一以上的認股人出席，方可舉行。
Article 92 The sponsors shall notify each subscriber of the date of the
establishment meeting or make a public announcement for such meeting 15 days in
advance. The establishment meeting may not be held unless attended by
subscribers representing at least half of the shares.
創(chuàng)立大會行使下列職權(quán)：
The establishment meeting shall exercise the following authorities：
（一）審議發(fā)起人關(guān)于公司籌辦情況的報告；
（1） considering the report on pre-establishment activities prepared by the
sponsors；
?。ǘ┩ㄟ^公司章程；
?。?） adopting the articles of association；
?。ㄈ┻x舉董事會成員；
?。?） electing members of the board of directors；
（四）選舉監(jiān)事會成員；
（4） electing members of the board of supervisors；
（五）對公司的設(shè)立費用進行審核；
（5） verifying expenses incurred for the establishment of the company；
?。Πl(fā)起人用于抵作股款的財產(chǎn)的作價進行審核；
?。?） verifying the value of the assets contributed by the sponsors in lieu of
share proceeds；
?。ㄆ撸┌l(fā)生不可抗力或者經(jīng)營條件發(fā)生重大變化直接影響公司設(shè)立的，可以作出不設(shè)立公司的決議。
?。?） where an event of force majeure or any material change in operating
condition affecting the company's establishment has occurred， a resolution not
to establish the company may be adopted.
創(chuàng)立大會對前款所列事項作出決議，必須經(jīng)出席會議的認股人所持表決權(quán)的半數(shù)以上通過。
A resolution adopted at the establishment meeting on any of the matters
mentioned in the previous Paragraph requires affirmative votes by subscribers
representing at least half of the votes attending the meeting.
第九十三條：發(fā)起人、認股人繳納股款或者交付抵作股款的出資后，除未按期募足股份、發(fā)起人未按期召開創(chuàng)立大會或者創(chuàng)立大會決議不設(shè)立公司的情形外，不得抽回其股本。
Article 93 Upon payment of the share proceeds or delivery of the items as
contribution of share capital in lieu of share proceeds， the sponsors and
subscribers may not withdraw their share capital， except where the shares issued
are not fully placed in time， the sponsors fail to hold the establishment
meeting in time， or the establishment meeting adopts a resolution not to
establish the company.
第九十四條：董事會應(yīng)于創(chuàng)立大會結(jié)束后三十日內(nèi)，向公司登記機關(guān)報送下列文件，申請設(shè)立登記：
Article 94 Within 30 days of the completion of the establishment meeting， the
board of directors shall apply for establishment registration by submitting to
the company registration authority the following：
?。ㄒ唬┯嘘P(guān)主管部門的批準文件；
?。╥） the approval document issued by the relevant authority；
?。ǘ﹦?chuàng)立大會的會議記錄；
?。╥i） the minutes of the establishment meeting；
?。ㄈ┕菊鲁?；
（iii） the articles of association；
?。ㄋ模┗I辦公司的財務(wù)審計報告；
?。╥v） the financial auditing report on pre-establishment activities；
?。ㄎ澹炠Y證明；
（v） the capital verification certificate；
（六）董事會、監(jiān)事會成員姓名及住所；
?。╲i） the names and domiciles of members of the board of directors and the
board of supervisors；
（七）法定代表人的姓名、住所。
（vii） the name and domicile of the legal representative.
第九十五條：公司登記機關(guān)自接到股份有限公司設(shè)立登記申請之日起三十日內(nèi)作出是否予以登記的決定。對符合本法規(guī)定條件的，予以登記，發(fā)給公司營業(yè)執(zhí)照；對不符合本法規(guī)定條件的，不予登記。
Article 95 The company registration authority shall decide whether to grant
registration to the joint stock limited company within 30 days of receipt of the
application for establishment registration. Where the application meets the
requirements prescribed herein， registration shall be granted and the company
shall be issued a business license； where the application fails to meet the
requirements prescribed herein， registration shall not be granted.
公司營業(yè)執(zhí)照簽發(fā)日期，為公司成立日期。公司成立后，應(yīng)當(dāng)進行公告。
The date on which the business license is issued shall be the date of the
company's establishment. Upon establishment， the company shall make a public
announcement.
股份有限公司經(jīng)登記成立后，采取募集設(shè)立方式的，應(yīng)當(dāng)將募集股份情況報國務(wù)院證券管理部門備案。
If established through public share offer， upon establishment and
registration， the joint stock limited company shall submit to the securities
regulatory authority under the State Council a report on the share offer
activities for filing.
第九十六條：設(shè)立股份有限公司的同時設(shè)立分公司的，應(yīng)當(dāng)就所設(shè)分公司向公司登記機關(guān)申請登記，領(lǐng)取營業(yè)執(zhí)照。
Article 96 Where a branch company is to be established contemporaneous with
the establishment of a joint stock limited 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.
股份有限公司成立后設(shè)立分公司，應(yīng)當(dāng)由公司法定代表人向公司登記機關(guān)申請登記，領(lǐng)取營業(yè)執(zhí)照。
Where a branch company is to be established after the joint stock limited
company's establishment， 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.
第九十七條：股份有限公司的發(fā)起人應(yīng)當(dāng)承擔(dān)下列責(zé)任：
Article 97 The sponsors of a joint stock limited company shall bear
liabilities as follows：
?。ㄒ唬┕静荒艹闪r，對設(shè)立行為所產(chǎn)生的債務(wù)和費用負連帶責(zé)任；
?。╥） in the event of failure to establish the company， being jointly and
severally liable for the debts and expenses incurred as a result of the
pre-establishment activities；
?。ǘ┕静荒艹闪r，對認股人已繳納的股款，負返還股款并加算銀行同期存款利息的連帶責(zé)任；
?。╥i） in the event of failure to establish the company， being jointly and
severally liable for the return of share proceeds paid by the subscribers，
together with the interest thereon as if they have been deposited in a bank for
a like period.
（三）在公司設(shè)立過程中，由于發(fā)起人的過失致使公司利益受到損害的，應(yīng)當(dāng)對公司承擔(dān)賠償責(zé)任。
?。╥ii） if the company's interest is harmed in the course of its establishment
due to the negligence of the sponsors， being liable to the company for damages.
第九十八條：有限責(zé)任公司變更為股份有限公司，應(yīng)當(dāng)符合本法規(guī)定的股份有限公司的條件，并依照本法有關(guān)設(shè)立股份有限公司的程序辦理。
Article 98 Where a limited liability company is to be converted into a joint
stock limited company， the requirements for establishing a joint stock limited
company prescribed herein shall be met， and the conversion shall be carried out
in accordance with the procedure for the establishment of a joint stock limited
company prescribed herein.
第九十九條：有限責(zé)任公司依法經(jīng)批準變更為股份有限公司時，折合的股份總額應(yīng)當(dāng)相等于公司凈資產(chǎn)額。有限責(zé)任公司依法經(jīng)批準變更為股份有限公司，為增加資本向社會公開募集股份時，應(yīng)當(dāng)依照本法有關(guān)向社會公開募集股份的規(guī)定辦理。
Article 99 Where conversion of a limited liability company to a joint stock
limited company is approved in accordance with the law， the total value of the
converted shares shall be equivalent to the company's net assets value. Where
conversion of a limited liability company to a joint stock limited company is
approved in accordance with the law， and its shares are offered to the public
for the purpose of increasing capital， such share offer shall be carried out in
accordance with the provisions herein governing public share offer.
第一百條：有限責(zé)任公司依法變更為股份有限公司的，原有限責(zé)任公司的債權(quán)、債務(wù)由變更后的股份有限公司承繼。
Article 100 Where conversion of a limited liability company to a joint stock
limited company is approved in accordance with the law， the creditor's rights
and liabilities of the original company shall be assumed by the joint stock
limited company resulting from the conversion.
第一百零一條：股份有限公司應(yīng)當(dāng)將公司章程、股東名冊、股東大會會議記錄、財務(wù)會計報告置備于本公司。
Article 101 A joint stock limited company shall maintain its articles of
association， the record of shareholders， the minutes of meetings of
shareholders' general committee， and its financial and accounting reports on the
company's premises.
第二節(jié)：股東大會Section Two： Shareholders' General Committee
第一百零二條：股份有限公司由股東組成股東大會。股東大會是公司的權(quán)力機構(gòu)，依照本法行使職權(quán)。
Article 102 The shareholders' General Committee of a joint stock limited
company is composed of all shareholders. The shareholders' general committee is
the company's organ of authority， and shall exercise its authorities in
accordance herewith.
第一百零三條：股東大會行使下列職權(quán)：
Article 103 The shareholder's general committee shall exercise the following
authorities：
（一）決定公司的經(jīng)營方針和投資計劃；
?。╥） determining the company's operational guidelines and investment plans；
?。?）選舉和更換董事，決定有關(guān)董事的報酬事項；
?。╥i） electing and replacing members of the board of directors， and deciding
upon matters relating to their remuneration；
?。ㄈ┻x舉和更換由股東代表出任的監(jiān)事，決定有關(guān)監(jiān)事的報酬事項；
（3） electing and replacing members of the board of supervisors who are the
shareholders' representatives， and deciding upon matters relating to the
remuneration of the supervisors；
?。ㄋ模徸h批準董事會的報告；
?。╥v） considering and approving reports by the board of directors；
?。ㄎ澹徸h批準監(jiān)事會的報告；
?。╲） considering and approving reports by the board of supervisors；
?。徸h批準公司的年度財務(wù)預(yù)算方案、決算方案；
（vi） considering and approving annual financial budget plans and final
accounting plans of the company；
?。?）審議批準公司的利潤分配方案和彌補虧損方案；
?。╲ii） considering and approving profit distribution plans and plans to cover
company losses；
?。ò耍驹黾踊蛘邷p少注冊資本作出決議；
?。╲iii） adopting resolutions regarding increase or reduction of registered
capital by the company；
?。?）對發(fā)行公司債券作出決議；
（ix） adopting resolutions on the issue of bonds by the company；
（十）對公司合并、分立、解散和清算等事項作出決議；
?。▁） adopting resolutions on merger， division， change of corporate form，
dissolution and liquidation of the company；
?。ㄊ唬┬薷墓菊鲁?。
?。▁i） amending the articles of association.
第一百零四條：股東大會應(yīng)當(dāng)每年召開一次年會。有下列情形之一的，應(yīng)當(dāng)在二個月內(nèi)召開臨時股東大會：
Article 104 The shareholders' general committee shall hold an annual meeting
each year. An interim meeting of the shareholders' general committee shall be
held within 2 months upon the occurrence of any of the following circumstances：
【法律教育網(wǎng)】
?。ㄒ唬┒氯藬?shù)不足本法規(guī)定的人數(shù)或者公司章程所定人數(shù)的三分之二時；
?。╥） The number of directors falls below the number prescribed herein or below
two-thirds of the number prescribed in the articles of association；
?。ǘ┕疚磸浹a的虧損達股本總額三分之一時；
?。╥i） The company's losses which are not covered have reached one-third of the
total amount of the share capital；
（三）持有公司股份百分之十以上的股東請求時；
（iii） Shareholders holding at least 10 percent of the company's stocks make a
request；
?。ㄋ模┒聲J為必要時；
（iv） The board of directors deems necessary；
?。ㄎ澹┍O(jiān)事會提議召開時。
?。╲） The board of supervisors proposes for such a meeting.
第一百零五條：股東大會會議由董事會依照本法規(guī)定負責(zé)召集，由董事長主持。董事長因特殊原因不能履行職務(wù)時，由董事長指定的副董事長或者其他董事主持。召開股東大會，應(yīng)當(dāng)將會議審議的事項于會議召開三十日以前通知各股東。臨時股東大會不得對通知中未列明的事項作出決議。
Article 105 A meeting of shareholders general committee shall be called by the
board of directors in accordance with herewith， and shall be 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 appointed by the chairman or another director appointed by the
chairman. In order to hold a meeting of shareholders' general committee， notice
concerning the matters to be considered at the meeting shall be given to each
shareholder 30 days in advance. An interim meeting of shareholders' general
committee may not adopt any resolution on matters not stated in the notice.
發(fā)行無記名股票的，應(yīng)當(dāng)于會議召開四十五日以前就前款事項作出公告。
Where the company has issued bearer share certificates， a public notice
concerning matters set forth in the previous Paragraph shall be made 45 days
prior to the meeting.
無記名股票持有人出席股東大會的，應(yīng)當(dāng)于會議召開五日以前至股東大會閉會時止將股票交存于公司。
When attending a meeting of shareholders' general committee， holders of bearer
share certificates shall deposit such certificates at the company from the 5th
day prior to the meeting until the closing of the meeting.
第一百零六條：股東出席股東大會，所持每一股份有一表決權(quán)。
Article 106 When a shareholder attends the meeting of shareholders' general
committee， each share he holds is entitled to one vote.
股東大會作出決議，必須經(jīng)出席會議的股東所持表決權(quán)的半數(shù)以上通過。股東大會對公司合并、分立或者解散公司作出決議，必須經(jīng)出席會議的股東所持表決權(quán)的三分之二以上通過。
A resolution adopted by the shareholders' general committee requires
affirmative votes by a majority of the votes held by shareholders attending the
meeting. The shareholders' general committee's adoption of a resolution for
merger， division or dissolution of the company requires affirmative votes by at
least two-thirds of the votes held by shareholders attending the meeting.
第一百零七條：修改公司章程必須經(jīng)出席股東大會的股東所持表決權(quán)的三分之二以上通過。
Article 107 An amendment to the articles of association requires affirmative
votes by at least two-thirds of the votes held by shareholders attending the
meeting of shareholders' general committee.
第一百零八條：股東可以委托代理人出席股東大會，代理人應(yīng)當(dāng)向公司提交股東授權(quán)委托書，并在授權(quán)范圍內(nèi)行使表決權(quán)。
Article 108 A shareholder may attend a meeting of shareholders' general
committee by proxy， the proxy holder shall present the proxy statement issued by
the shareholder to the company， and shall exercise his voting rights to the
extent authorized by the proxy.
第一百零九條：股東大會應(yīng)當(dāng)對所議事項的決定作成會議記錄，由出席會議的董事簽名。會議記錄應(yīng)當(dāng)與出席股東的簽名冊及代理出席的委托書一并保存。 【法律教育網(wǎng)】
Article 109 The shareholders' general committee shall prepare minutes
regarding the decisions on matters considered at the meeting， which shall be
signed by the directors attending the meeting. The minutes shall be maintained
together with the record containing signatures of the shareholders attending the
meeting and the proxy statements.
第一百一十條：股東有權(quán)查閱公司章程、股東大會會議記錄和財務(wù)會計報告，對公司的經(jīng)營提出建議或者質(zhì)詢。
Article 110 A shareholder is entitled to inspect the articles of association，
the minutes of meetings of shareholders' general committee and the financial and
accounting reports of the company， and is entitled to make a proposal or inquiry
concerning the company's operation.
第一百一十一條：股東大會、董事會的決議違反法律、行政法規(guī)，侵犯股東合法權(quán)益的，股東有權(quán)向人民法院提起要求停止該違法行為和侵害行為的訴訟。
Article 111 Where a resolution adopted by the shareholders' general committee
or the board of directors violates the relevant national statutes or
administrative regulations， or infringes on the rights and interests of the
shareholders， a shareholder is entitled to bring a suit to the People's Court to
enjoin such illegal act or infringing act.
第三節(jié)：董事會、經(jīng)理Section Three： Board Of Directors And General Manager
第一百一十二條：股份有限公司設(shè)董事會，其成員為五人至十九人。
Article 112 A joint stock limited company shall have a board of directors，
which shall be composed of not fewer than 5 but not more than 19 members.
董事會對股東大會負責(zé)，行使下列職權(quán)：
The board of directors is accountable to the shareholders' general committee，
and shall exercise the following authorities：
?。ㄒ唬┴撠?zé)召集股東大會，并向股東大會報告工作；
?。╥） being responsible for calling meetings of shareholders' general committee，
and presenting reports thereto；
?。ǘ﹫?zhí)行股東大會的決議；
?。╥i） implementing resolutions adopted by the shareholders' general committee；
?。?）決定公司的經(jīng)營計劃和投資方案；
（iii） determining the company's operating plans and investment programs；
（四）制訂公司的年度財務(wù)預(yù)算方案、決算方案；
?。╥v） preparing annual financial budget plans and final accounting plans of the
company；
?。?）制訂公司的利潤分配方案和彌補虧損方案；
?。╲） preparing the company's profit distribution plans and plans to cover
company losses；
?。┲朴喒驹黾踊蛘邷p少注冊資本的方案以及發(fā)行公司債券的方案；
?。╲i） preparing plans for increasing or reducing registered capital by the
company， and plans to issue company bonds；
?。ㄆ撸M訂公司合并、分立、解散的方案；
?。╲ii） drafting plans for merger， division or dissolution of the company；
?。ò耍Q定公司內(nèi)部管理機構(gòu)的設(shè)置；
（viii） determining the structure of the company's internal management；
（九）聘任或者解聘公司經(jīng)理，根據(jù)經(jīng)理的提名，聘任或者解聘公司副經(jīng)理、財務(wù)負責(zé)人，決定其報酬事項；
?。╥x） appointing or removing the general manager of the company； appointing or
removing， upon the general manager's recommendation， deputy general managers of
the company and the officer in charge of finance； and determining the
remuneration for those officers；
?。?0）制定公司的基本管理制度。
?。▁） formulating the company's basic management scheme.
第一百一十三條：董事會設(shè)董事長一人，可以設(shè)副董事長一至二人。董事長和副董事長由董事會以全體董事的過半數(shù)選舉產(chǎn)生。
Article 113 The board of directors shall have a chairman， and may have one or
two vice-chairmen. The chairman and vice-chairman shall be elected by the board
of directors through affirmative votes by a majority of the directors.
董事長為公司的法定代表人。
The chairman is the legal representative of the company.
第一百一十四條：董事長行使下列職權(quán)：
Article 114 The chairman shall exercise the following authorities：
（一）主持股東大會和召集、主持董事會會議；
（i） presiding over meetings of shareholders' general committee， and calling
and presiding over meetings of the board of directors；
?。ǘz查董事會決議的實施情況；
?。╥i） supervising the implementation of resolutions adopted by the board of
directors；
?。ㄈ┖炇鸸竟善薄⒐緜?。
（iii） signing the share certificates and bond certificates of the company.
副董事長協(xié)助董事長工作，董事長不能履行職權(quán)時，由董事長指定的副董事長代行其職權(quán)。
The vice-chairman shall assist the chairman in his work. Where the chairman is
unable to exercise his authorities， the vice-chairman appointed by the chairman
shall exercise such authorities in his capacity.
第一百一十五條：董事任期由公司章程規(guī)定，但每屆任期不得超過三年。董事任期屆滿，連選可以連任。
Article 115 The term of directors shall be prescribed by the articles of
association， provided that each term shall not exceed 3 years. A director may
continue to serve his post if he is re-elected upon the expiration of his term.
董事在任期屆滿前，股東大會不得無故解除其職務(wù)。
Prior to the expiration of a director's term， the shareholders' general
committee may not remove him without cause.
第一百一十六條：董事會每年度至少召開二次會議，每次會議應(yīng)當(dāng)于會議召開十日以前通知全體董事。
Article 116 The board of directors shall hold meetings at least twice a year，
and notice shall be given to all directors 10 days in advance.
董事會召開臨時會議，可以另定召集董事會的通知方式和通知時限。
Where an interim meeting of the board of directors is to be held， the method
and time limit for notification for calling the interim meeting may be
prescribed separately.
第一百一十七條：董事會會議應(yīng)由二分之一以上的董事出席方可舉行。董事會作出決議，必須經(jīng)全體董事的過半數(shù)通過。
Article 117 A meeting of the board of directors may not be held unless
attended by at least half of the directors. A resolution adopted by the board of
directors requires affirmative votes by a majority of all the directors.
第一百一十八條：董事會會議，應(yīng)由董事本人出席。董事因故不能出席，可以書面委托其他董事代為出席董事會，委托書中應(yīng)載明授權(quán)范圍。
Article 118 A meeting of the board of directors shall be attended by each
director in person. Where a director is unable to attend the meeting for cause，
he may issue a written proxy entrusting another director to attend in his
behalf， and the proxy shall set forth the scope of authorization.
董事會應(yīng)當(dāng)對會議所議事項的決定作成會議記錄，出席會議的董事和記錄員在會議記錄上簽名。
The board of directors shall prepare minutes regarding the decisions on
matters considered at the meeting， which shall be signed by the directors
attending the meeting and the person preparing the minutes.
董事應(yīng)當(dāng)對董事會的決議承擔(dān)責(zé)任。董事會的決議違反法律、行政法規(guī)或者公司章程，致使公司遭受嚴重損失的，參與決議的董事對公司負賠償責(zé)任。但經(jīng)證明在表決時曾表明異議并記載于會議記錄的，該董事可以免除責(zé)任。
The directors shall be responsible for resolutions adopted by the board of
directors. Where a resolution of the board violates any national statutes，
administrative regulations or the articles of association， and causes the
company to incur serious loss， those directors participating in the adoption of
the resolution are liable to the company for damages. Provided， however， if a
director is proven to have dissented at the vote adopting such resolution and
such dissension was noted in the minutes， then the director may be exempt from
liability.
第一百一十九條：股份有限公司設(shè)經(jīng)理，由董事會聘任或者解聘。經(jīng)理對董事會負責(zé)，行使下列職權(quán)：
Article 119 A joint stock limited company shall have a general manager， to be
appointed or removed by the board. The general manager is accountable to the
board and shall exercise the following authorities：
?。?）主持公司的生產(chǎn)經(jīng)營管理工作，組織實施董事會決議；
（i） being in charge of managing the company's production and operation， and
organizing the implementation of resolutions adopted by the board；
?。ǘ┙M織實施公司年度經(jīng)營計劃和投資方案；
?。╥i） organizing the implementation of annual operating plans and investment
programs of the company；
擬訂公司內(nèi)部管理機構(gòu)設(shè)置方案；
（iii） drafting the plan for the structure of the company's internal
management；
擬訂公司的基本管理制度；
（iv） drafting the basic management scheme of the company；
制定公司的具體規(guī)章；
（v） formulating detailed rules of the company；
提請聘任或者解聘公司副經(jīng)理、財務(wù)負責(zé)人；
（vi） recommending for appointment or removal of the deputy general managers
and the officer in charge of finance；
（七）聘任或者解聘除應(yīng)由董事會聘任或者解聘以外的負責(zé)管理人員；
?。╲ii） appointing and removing officers of the company other than those to be
appointed or removed by the board；
公司章程和董事會授予的其他職權(quán)。
?。╲iii） other authorities prescribed by the articles of association and
delegated by the board.
經(jīng)理列席董事會會議。
The general manager shall be present at board meetings.
第一百二十條：公司根據(jù)需要，可以由董事會授權(quán)董事長在董事會閉會期間，行使董事會的部分職權(quán)。
Article 120 In light of the needs of the company， the board of directors may
authorize the chairman to exercise part of the authorities of the board when it
is not in session.
公司董事會可以決定，由董事會成員兼任經(jīng)理。
The board of directors of the company may decide that a board member is to
serve concurrently as the general manager.
第一百二十一條：公司研究決定有關(guān)職工工資、福利、安全生產(chǎn)以及勞動保護、勞動保險等涉及職工切身利益的問題，應(yīng)當(dāng)事先聽取公司工會和職工的意見，并邀請工會或者職工代表列席有關(guān)會議。
Article 121 When a company considers and decides upon matters which affect the
personal interests of its workers， such as workers' 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.
第一百二十二條：公司研究決定生產(chǎn)經(jīng)營的重大問題、制定重要的規(guī)章制度時，應(yīng)當(dāng)聽取公司工會和職工的意見和建議。
Article 122 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.
第一百二十三條：董事、經(jīng)理應(yīng)當(dāng)遵守公司章程，忠實履行職務(wù)，維護公司利益，不得利用在公司的地位和職權(quán)為自己謀取私利。
Article 123 The directors and 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.
本法第五十七條至第六十三條有關(guān)不得擔(dān)任董事、經(jīng)理的規(guī)定以及董事、經(jīng)理義務(wù)、責(zé)任的規(guī)定，適用于股份有限公司的董事、經(jīng)理。
The provisions from Article 57 to Article 63 hereof setting forth the
circumstances in which a person may not serve as a director or the general
manager， and the obligations and responsibilities of the directors and the
general manager shall apply to the directors and general manager of a joint
stock limited company.
第四節(jié)：監(jiān)事會Section Four： Board Of Supervisors
第一百二十四條：股份有限公司設(shè)監(jiān)事會，其成員不得少于三人。監(jiān)事會應(yīng)在其組成人員中推選一名召集人。
Article 124 A joint stock limited company shall have a board of supervisors，
which shall be composed of not fewer than 3 members. The board of supervisors
shall elect one member to serve as the person responsible for calling meetings.
監(jiān)事會 由股東代表和適當(dāng)比例的公司職工代表組成，具體比例由公司章程規(guī)定。監(jiān)事會中的職工代表由公司職工民主選舉產(chǎn)生。
The board of supervisors shall be composed of the shareholders'
representative（s） and representative（s） of the workers of the company in an
appropriate ratio to be prescribed by the articles of association. The workers'
representative（s） on the board of supervisors shall be democratically elected by
the workers of the company.
董事、經(jīng)理 及財務(wù)負責(zé)人不得兼任監(jiān)事。
A director， the general manager and the officer in charge of finance may not
serve concurrently as a supervisor.
第一百二十五條：監(jiān)事的任期每屆為三年。監(jiān)事任期屆滿，連選可以連任。
Article 125 Each term of a supervisor shall be three years， and a supervisor
may continue to serve his post at the expiration of his term if he is
re-elected.
第一百二十六條：監(jiān)事會行使下列職權(quán)：
Article 126 The board of supervisors shall exercise the following authorities：
（一）檢查公司的財務(wù)；
?。╥） reviewing the financial affairs of the company；
對董事、經(jīng)理執(zhí)行公司職務(wù)時違反法律、法規(guī)或者公司章程的行為進行監(jiān)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 their performance of duties；
當(dāng)董事和經(jīng)理的行為損害公司的利益時，要求董事和經(jīng)理予以糾正；
?。╥ii） requiring the directors or the general manager to make rectification
when any act thereof harms company interests；
?。ㄋ模┨嶙h召開臨時股東大會；
?。╥v） proposing for interim meetings of shareholders' general committee.
（五）公司章程規(guī)定的其他職權(quán)。
?。╲） other authorities prescribed by the articles of association.
監(jiān)事列席董事會會議。
The supervisors shall be present at board meetings.
第一百二十七條：監(jiān)事會的議事方式和表決程序由公司章程規(guī)定。
Article 127 The method for conducting business and voting procedure for the
board of supervisors shall be prescribed by the articles of association.
第一百二十八條：監(jiān)事應(yīng)當(dāng)依照法律、行政法規(guī)、公司章程，忠實履行監(jiān)督職責(zé)。
Article 128 A supervisor shall perform his supervisory duties faithfully in
accordance with the provisions of national statutes， administrative regulations，
and the articles of association.
本法第五十七條至第五十九條、第六十二條至第六十三條有關(guān)不得擔(dān)任監(jiān)事的規(guī)定以及監(jiān)事義務(wù)、責(zé)任的規(guī)定，適用于股份有限公司的監(jiān)事。
The provisions from Article 57 to Article 59 hereof and from Article 62 to
Article 63 hereof setting forth the circumstances in which a person may not
serve as a supervisor， and the obligations and responsibilities of supervisors
shall apply to the supervisors of a joint stock limited company.
股份有限公司的股份發(fā)行和轉(zhuǎn)讓Issue And Transfer Of Shares Of A Joint Stock Limited Company
第一節(jié)：股份發(fā)行Section One： Issue Of Shares
第一百二十九條：股份有限公司的資本劃分為股份，每一股的金額相等。
Article 129 The capital of a joint stock limited company shall be divided into
shares， and all the shares shall be of equal value.
公司的股份采取股票的形式。股票是公司簽發(fā)的證明股東所持股份的憑證。
Shares of the company are represented by share certificates. A share
certificate is a certificate issued by the company certifying the share held by
a shareholder.
第一百三十條：股份的發(fā)行，實行公開、公平、公正的原則，必須同股同權(quán)，同股同利。
Article 130 When shares are issued， the principles of openness， fairness， and
equity shall be followed， and each share in the same class must have the same
rights and receive the same interests.
同次發(fā)行的股票，每股的發(fā)行條件和價格應(yīng)當(dāng)相同。任何單位或者個人所認購的股份，每股應(yīng)當(dāng)支付相同價額。
For shares issued at the same time， each share shall be issued on the same
conditions and at the same price. All entities or individuals subscribing for
shares shall pay the same price for each share.
第一百三十一條：股票發(fā)行價格可以按票面金額，也可以超過票面金額，但不得低于票面金額。
Article 131 The issuing price per share may be at par value， or above par
value， but may not be below par value.
以超過票面金額為股票發(fā)行價格的，須經(jīng)國務(wù)院證券管理部門批準。
The pricing of shares issued at above par value is subject to approval by the
securities regulatory authority under the State Council.
以超過票面金額發(fā)行股票所得溢價款列入公司資本公積金。
The premium resulting from issuance of shares at a price above par value shall
be allocated to the company's capital reserve fund.
股票溢價發(fā)行的具體管理辦法由國務(wù)院另行規(guī)定。
The detailed regulatory measures concerning issuance of shares at a premium
shall be prescribed by the State Council separately.
第一百三十二條：股票采用紙面形式或者國務(wù)院證券管理部門規(guī)定的其他形式。
Article 132 A share certificate shall be in paper form or in other forms
prescribed by the securities regulatory authority under the State Council.
股票應(yīng)當(dāng)載明下列主要事項：
A share certificate shall set forth the following major items：
?。ㄒ唬┕久Q；
（i） the name of the company；
?。ǘ┕镜怯洺闪⒌娜掌?；
?。╥i） the company's date of registration and establishment；
?。ㄈ┕善狈N類、票面金額及代表的股份數(shù)；
?。╥ii） the class and par value of the shares and the number of shares
represented；
?。ㄋ模┕善钡木幪?。
?。╥v） the serial number of the share certificate.
股票由董事長簽名，公司蓋章。
The share certificate shall be signed by the chairman of the board， and the
company's chop shall be impressed thereon.
發(fā)起人的股票，應(yīng)當(dāng)標明發(fā)起人股票字樣。
Share certificates held by the sponsors shall be marked with the words
Sponsors' Share.
第一百三十三條：公司向發(fā)起人、國家授權(quán)投資的機構(gòu)、法人發(fā)行的股票，應(yīng)當(dāng)為記名股票，并應(yīng)當(dāng)記載該發(fā)起人、機構(gòu)或者法人的名稱，不得另立戶名或者以代表人姓名記名。
Article 133 Share certificates issued by the company to its sponsors， state
authorized investment institutions， or legal persons shall be registered share
certificates bearing the names of such sponsors， institutions， or legal persons，
and may not be registered under any other names or in the names of their legal
representatives.
對社會公眾發(fā)行的股票，可以為記名股票，也可以為無記名股票。
Share certificates issued to the public may be in the form of either
registered share certificates or bearer share certificates.
第一百三十四條：公司發(fā)行記名股票的，應(yīng)當(dāng)置備股東名冊，記載下列事項：
Article 134 A company issuing registered share certificates shall maintain a
record of shareholders， which shall set forth the following：
股東的姓名或者名稱及住所；
?。╥） the name and domicile of each shareholder；
?。ǘ└鞴蓶|所持股份數(shù)；
（ii） the number of shares held by each shareholder；
?。ㄈ└鞴蓶|所持股票的編號；
?。╥ii） the serial numbers of share certificates held by each shareholder；
?。ㄋ模└鞴蓶|取得其股份的日期。
?。╥v） the date on which each shareholder acquired his shares.
發(fā)行無記名股票的，公司應(yīng)當(dāng)記載其股票數(shù)量、編號及發(fā)行日期。
A company issuing bearer share certificates shall record the number of such
share certificates， their serial numbers and their issuing dates.
第一百三十五條：國務(wù)院可以對公司發(fā)行本法規(guī)定的股票以外的其他種類的股票，另行作出規(guī)定。
Article 135 The State Council may make separate stipulations relating to a
company's issuance of shares of classes other than those prescribed herein.
第一百三十六條：股份有限公司登記成立后，即向股東正式交付股票。公司登記成立前不得向股東交付股票。
Article 136 Upon registration and establishment， a joint stock limited company
shall promptly deliver the share certificates to its shareholders officially.
Prior to registration and establishment， the company may not deliver any share
certificate to its shareholders.
第一百三十七條：公司發(fā)行新股，必須具備下列條件：
Article 137 Issuance of new shares by a company is subject to the following
conditions：
?。ㄒ唬┣耙淮伟l(fā)行的股份已募足，并間隔一年以上；
?。╥） Previously issued shares have been fully subscribed for， and at least one
year has passed since the previous share issue；
（二）公司在最近三年內(nèi)連續(xù)盈利，并可向股東支付股利；
?。╥i） The company has been profitable consecutively for the most recent three
years， and is able to pay dividends to its shareholders；
?。ㄈ┕驹谧罱陜?nèi)財務(wù)會計文件無虛假記載；
（iii） The financial and accounting documents of the company contain no
misrepresentation for the most recent three years；
（四）公司預(yù)期利潤率可達同期銀行存款利率。
?。╥v） the company's projected profit rate reaches the interest rate of bank
deposits for a like period.
公司以當(dāng)年利潤分派新股，不受前款第（二）項限制。
Where the company distributes its current year profit in the form of new
shares， issuance of such shares are exempt from the restriction prescribed in
Item （ii） of the previous Paragraph.
第一百三十八條：公司發(fā)行新股，股東大會應(yīng)當(dāng)對下列事項作出決議：
Article 138 Where a company is to issue new shares， the shareholder's general
committee shall adopt a resolution concerning the following：
?。ㄒ唬┬鹿煞N類及數(shù)額；
?。╥） the classes and number of the new shares；
?。ǘ┬鹿砂l(fā)行價格；
?。╥i） the issuing price of the new shares；
（三）新股發(fā)行的起止日期；
?。╥ii） the commencing and ending dates of issuance of the new shares；
?。ㄋ模┫蛟泄蓶|發(fā)行新股的種類及數(shù)額。
（iv） the classes and number of new shares issued to the existing shareholders.
第一百三十九條：股東大會作出發(fā)行新股的決議后，董事會必須向國務(wù)院授權(quán)的部門或者省級人民政府申請批準。屬于向社會公開募集的，須經(jīng)國務(wù)院證券管理部門批準。
Article 139 Upon adoption of a resolution by the shareholders' general
committee to issue new shares， the board of directors shall apply to the
department authorized by the State Council or the People's Government at the
provincial level for approval. Where the new shares are offered to the public，
approval by the securities regulatory authority is required.
第一百四十條：公司經(jīng)批準向社會公開發(fā)行新股時，必須公告新股招股說明書和財務(wù)會計報表及附屬明細表，并制作認股書。
Article 140 When a company is approved to issue new shares to the public， it
shall make public the prospectus for the issue of new shares， its financial and
accounting statements and subsidiary statements， and shall prepare the
subscription form.
公司向社會公開發(fā)行新股，應(yīng)當(dāng)由依法設(shè)立的證券經(jīng)營機構(gòu)承銷，簽訂承銷協(xié)議。
If the company offers new shares to the public， such share offer shall be
underwritten by a lawfully established securities underwriter， and the company
shall execute an underwriting agreement therewith.
第一百四十一條：公司發(fā)行新股，可根據(jù)公司連續(xù)盈利情況和財產(chǎn)增值情況，確定其作價方案。
Article 141 In issuing new shares， a company may determine the pricing scheme
in light of the sustainable profitability of the company and the appreciation of
the company's assets.
第一百四十二條：公司發(fā)行新股募足股款后，必須向公司登記機關(guān)辦理變更登記，并公告。
Article 142 Upon full receipt of the share proceeds from the company's newly
issued shares， the company shall carry out amendment registration with the
company registration authority and shall make a public announcement.
第二節(jié)：股份轉(zhuǎn)讓Section Two： Assignment Of Shares
第一百四十三條：股東持有的股份可以依法轉(zhuǎn)讓。
Article 143 Shares held by a shareholder may be assigned in accordance with
the law.
第一百四十四條：股東轉(zhuǎn)讓其股份，必須在依法設(shè)立的證券交易場所進行。
Article 144 Assignment of shares by a shareholder must be carried out at a
lawfully established securities exchange.
第一百四十五條：記名股票，由股東以背書方式或者法律、行政法規(guī)規(guī)定的其他方式轉(zhuǎn)讓。
Article 145 Assignment of registered share certificates is effected by the
shareholder's endorsement thereof or by other methods prescribed by the relevant
national statutes or administrative regulations.
記名股票的轉(zhuǎn)讓，由公司將受讓人的姓名或者名稱及住所記載于股東名冊。
In the case of assignment of registered share certificates， the company shall
record the assignee's name and domicile on the record of shareholders.
股東大會召開前三十日內(nèi)或者公司決定分配股利的基準日前五日內(nèi)，不得進行前款規(guī)定的股東名冊的變更登記。
Recording change of shareholders on the record of shareholders referred to in
the previous Paragraph may not be carried out for a period of 30 days prior to
the holding of a meeting of shareholders' general committee， or 5 days prior to
the record date for the purpose of dividend distribution determined by the
company.
第一百四十六條：無記名股票的轉(zhuǎn)讓，由股東在依法設(shè)立的證券交易場所將該股票交付給受讓人后即發(fā)生轉(zhuǎn)讓的效力。
Article 146 Assignment of bearer share certificates takes effect upon delivery
thereof by the shareholder to the assignee at a lawfully established securities
exchange.
第一百四十七條：發(fā)起人持有的本公司股份，自公司成立之日起三年內(nèi)不得轉(zhuǎn)讓。
Article 147 Shares of a company held by its sponsors may not be assigned for a
period of 3 years commencing from the date of the company's establishment.
公司董事、監(jiān)事、經(jīng)理應(yīng)當(dāng)向公司申報所持有的本公司的股份，并在任職期間內(nèi)不得轉(zhuǎn)讓。
The directors， supervisors and general manager of the company shall report to
the company the number of the company's shares held thereby， and may not assign
such shares while they are in office.
第一百四十八條：國家授權(quán)投資的機構(gòu)可以依法轉(zhuǎn)讓其持有的股份，也可以購買其他股東持有的股份。轉(zhuǎn)讓或者購買股份的審批權(quán)限、管理辦法，由法律、行政法規(guī)另行規(guī)定。
Article 148 A state authorized investment institution may assign shares held
by it in accordance with the law， and may also purchase shares held by other
shareholders. The authority of approval for， and regulatory measures concerning，
such assignment or purchase of shares shall be separately prescribed by the
relevant national statutes or administrative regulations.
第一百四十九條：公司不得收購本公司的股票，但為減少公司資本而注銷股份或者與持有本公司股票的其他公司合并時除外。
Article 149 A company may not purchase its own shares， except in the case of
share cancellation for the purpose of reducing the company's capital， or in the
case of merger with another company holding shares of the company.
公司依照前款規(guī)定收購本公司的股票后，必須在十日內(nèi)注銷該部分股份，依照法律、行政法規(guī)辦理變更登記，并公告。
Upon repurchase of its shares pursuant to the previous Paragraph， the company
shall cancel such shares within 10 days， and carry out amendment registration in
accordance with the relevant national statutes or administrative regulations，
and shall make a public announcement.
公司不得接受本公司的股票作為抵押權(quán)的標的。
The company may not accept its own shares as the collateral under a security
arrangement.
第一百五十條：記名股票被盜、遺失或者滅失，股東可以依照民事訴訟法規(guī)定的公示催告程序，請求人民法院宣告該股票失效。
Article 150 If a registered share certificate is stolen， lost or destroyed，
the shareholder may petition a People's Court for the invalidation thereof
through the public notice procedure prescribed in the Civil Procedural Law of
the People's Republic of China.
依照公示催告程序，人民法院宣告該股票失效后，股東可以向公司申請補發(fā)股票。
After the People's Court has invalidated such share certificate through the
public notice procedure， the shareholder may apply to the company for
re-issuance of a certificate for the share.
第三節(jié)：上市公司Section Three： Listed Companies
第一百五十一條：本法所稱上市公司是指所發(fā)行的股票經(jīng)國務(wù)院或者國務(wù)院授權(quán)證券管理部門批準在證券交易所上市交易的股份有限公司。
Article 151 A Listed company referred to herein means a joint stock limited
company whose issued shares have been approved by the State Council or the
securities regulatory authority authorized by the State Council to be listed and
traded on a securities exchange.
第一百五十二條：股份有限公司申請其股票上市必須符合下列條件：
Article 152 A joint stock limited company applying for listing of its shares
shall meet the following requirements：
（一）股票經(jīng)國務(wù)院證券管理部門批準已向社會公開發(fā)行；
（i） The company's shares have been issued to the public with approval by the
securities regulatory authority under the State Council；
（二）公司股本總額不少于人民幣五千萬元；
（ii） The amount of total share capital of the company is at least Renminbi
50，000，000 Yuan；
?。ㄈ╅_業(yè)時間在三年以上，最近三年連續(xù)盈利；原國有企業(yè)依法改建而設(shè)立的，或者本法實施后新組建成立，其主要發(fā)起人為國有大中型企業(yè)的，可連續(xù)計算；
（iii） The company has been in operation for at least three years， and has been
profitable consecutively for the most recent three years； where the company is
reorganized from a former state-owned enterprise in accordance with the law， or
newly established after the implementation hereof， with its principal sponsor
being a large-scaled or medium-scaled state-owned enterprise， the required
period may be counted continuously；
?。ㄋ模┏钟泄善泵嬷颠_人民幣一千元以上的股東人數(shù)不少于一千人，向社會公開發(fā)行的股份達公司股份總數(shù)的百分之二十五以上；公司股本總額超過人民幣四億元的，其向社會公開發(fā)行股份的比例為百分之十五以上；
?。╥v） There are at least 1，000 shareholders each of whom holds shares with face
value of not less than Renminbi 1，000 Yuan， and the shares issued to the public
amount to at least 25 percent of the total number of shares of the company； and
where the amount of total share capital of the company exceeds Renminbi
400，000，000 Yuan， the shares issued to the public amount to at least 15 percent
of the total number of shares of the company；
?。ㄎ澹┕驹谧罱陜?nèi)無重大違法行為，財務(wù)會計報告無虛假記載；
?。╲） The company has not engaged in any material illegal act for the most
recent three consecutive years， and the financial and accounting reports thereof
contain no misrepresentation；
國務(wù)院規(guī)定的其他條件。
?。╲i） Other requirements prescribed by the State Council.
第一百五十三條：股份有限公司申請其股票上市交易，應(yīng)當(dāng)報經(jīng)國務(wù)院或者國務(wù)院授權(quán)證券管理部門批準，依照有關(guān)法律、行政法規(guī)的規(guī)定報送有關(guān)文件。
Article 153 The application by a joint stock limited company for listing of
its shares shall be submitted to the State Council or the securities regulatory
authority authorized thereby for approval， and the relevant documents shall be
submitted in accordance with the applicable national statutes and
administrations regulations.
國務(wù)院或者國務(wù)院授權(quán)證券管理部門對符合本法規(guī)定條件的股票上市交易申請，予以批準；對不符合本法規(guī)定條件的，不予批準。
The State Council or the securities regulatory authority authorized thereby
shall approve an application for listing of shares which meets the requirements
prescribed herein； and shall not approve any application which fails to meet the
requirements prescribed herein.
股票上市交易申請經(jīng)批準后，被批準的上市公司必須公告其股票上市報告，并將其申請文件存放在指定的地點供公眾查閱。
Upon approval of its application for listing of shares， the company approved
for listing shall make public its share listing report， and shall maintain its
application documents at a designated place for inspection by the public.
第一百五十四條：經(jīng)批準的上市公司的股份，依照有關(guān)法律、行政法規(guī)上市交易。
Article 154 The shares of a company approved for listing shall be listed in
accordance with the provisions of applicable national statutes and
administrative regulations.
第一百五十五條：經(jīng)國務(wù)院證券管理部門批準，公司股票可以到境外上市，具體辦法由國務(wù)院作出特別規(guī)定。
Article 155 Upon approval by the securities regulatory authority under the
State Council， the shares of a company may be listed abroad， and the detailed
measures shall be specially prescribed by the State Council.
第一百五十六條：上市公司必須按照法律、行政法規(guī)的規(guī)定，定期公開其財務(wù)狀況和經(jīng)營情況，在每會計年度內(nèi)半年公布一次財務(wù)會計報告。
Article 156 A listed company shall make public its financial conditions and
operating conditions at regular intervals in accordance with the relevant
national statutes and administrative regulations， and shall make public its
financial and accounting reports semiannually in each fiscal year.
第一百五十七條：上市公司有下列情形之一的，由國務(wù)院證券管理部門決定暫停其股票上市：
Article 157 The securities regulatory authority under the State Council shall
suspend the trading of a listed company in any of the following circumstances：
?。ㄒ唬┕竟杀究傤~、股權(quán)分布等發(fā)生變化不再具備上市條件；
（i） Matters such as the total share capital or the composition of equity
ownership of the company have changed so that the company no longer meets the
requirements for listing；
（二）公司不按規(guī)定公開其財務(wù)狀況，或者對財務(wù)會計報告作虛假記載；
（ii） The company fails to make public its financial condition as required， or
has made misrepresentations in its financial and accounting reports；
?。ㄈ┕居兄卮筮`法行為；
?。╥ii） The company has engaged in material illegal act；
?。ㄋ模┕咀罱赀B續(xù)虧損。
?。╥v） The company has been suffering losses for the most recent three
consecutive years.
第一百五十八條：上市公司有前條第（二）項、第（三）項所列情形之一經(jīng)查實后果嚴重的，或者有前條第（一）項、第（四）項所列情形之一，在限期內(nèi)未能消除，不具備上市條件的，由國務(wù)院證券管理部門決定終止其股票上市。
Article 158 Where a listed company is in a circumstance set forth in either
Item （ii） or （iii） of the previous Article， and after investigation， it is
confirmed that the circumstance is serious， or the listed company is in a
circumstance set forth in either Item （i） or （iv） and has not been able to
eliminate such circumstance within a prescribed time limit， and hence no longer
meets the requirements for listing， the securities regulatory authority under
the State Council shall issue a decision to de-list its shares.
公司決議解散、被行政主管部門依法責(zé)令關(guān)閉或者被宣告破產(chǎn)的，由國務(wù)院證券管理部門決定終止其股票上市。
Where the company is to be dissolved pursuant to a resolution， is ordered to
cease its operation by the relevant authority in charge in accordance with the
law， or is declared bankrupt， the securities regulatory authority under the
State Council shall issue a decision to de-list its shares.
第五章：公司債券Chapter Five： Company Bonds
第一百五十九條：股份有限公司、國有獨資公司和兩個以上的國有企業(yè)或者其他兩個以上的國有投資主體投資設(shè)立的有限責(zé)任公司，為籌集生產(chǎn)經(jīng)營資金，可以依照本法發(fā)行公司債券。
Article 159 For the purpose of financing production and operation， a joint
stock limited company， a wholly state-owned company or a limited liability
company established through investment by two or more state-owned enterprises or
two or more state authorized investment entities may issue company bonds in
accordance herewith.
第一百六十條：本法所稱公司債券是指公司依照法定程序發(fā)行的、約定在一定期限還本付息的有價證券。
Article 160 Company bonds referred to herein means a form of security which is
issued by a company in accordance with legally prescribed procedure， and which
provides that the principal thereof and interest thereon shall be paid at
specified times.
第一百六十一條：發(fā)行公司債券，必須符合下列條件：
Article 161 In order to issue company bonds， the following requirements must
be met：
?。ㄒ唬┕煞萦邢薰镜膬糍Y產(chǎn)額不低于人民幣三千萬元，有限責(zé)任公司的凈資產(chǎn)額不低于人民幣六千萬元；
?。╥） The net assets of the company shall be not less than Renminbi 30，000，000
Yuan in the case of a joint stock limited company， and not less than Renminbi
60，000，000 Yuan in the case of a limited liability company；
（二）累計債券總額不超過公司凈資產(chǎn)額的百分之四十；
?。╥i） The cumulative value of company bonds shall not exceed 40 percent of the
company's net assets；
（三）最近三年平均可分配利潤足以支付公司債券一年的利息；
（iii） The average distributable profit for the most recent three years is
sufficient to pay one year's interest on the company bonds；
?。ㄋ模┗I集的資金投向符合國家產(chǎn)業(yè)政策；
?。╥v） The proceeds received shall be invested in a manner consistent with state
industrial policy；
?。ㄎ澹﹤睦什坏贸^國務(wù)院限定的利率水平；
?。╲） The interest rate on the bonds shall not exceed the level of interest rate
set by the State Council；
?。﹪鴦?wù)院規(guī)定的其他條件。
?。╲i） Other requirements prescribed by the State Council.
發(fā)行公司債券籌集的資金，必須用于審批機關(guān)批準的用途，不得用于彌補虧損和非生產(chǎn)性支出。
The proceeds from issuance of company bonds shall be used for the purpose
approved by the approval authority， and may not be used to cover losses and
non-operating expenditures.
第一百六十二條：凡有下列情形之一的，不得再次發(fā)行公司債券：
Article 162 No additional company bonds may be issued in any of the following
circumstances：
?。ㄒ唬┣耙淮伟l(fā)行的公司債券尚未募足的；
?。╥） Company bonds previously issued have not been fully subscribed for；
?。ǘσ寻l(fā)行的公司債券或者其債務(wù)有違約或者延遲支付本息的事實，且仍處于繼續(xù)狀態(tài)的。
?。╥i） The fact that the company is in default of any of the previously issued
company bonds or company debt or is late in payment of principal and interest
has occurred， and is currently existing.
第一百六十三條：股份有限公司、有限責(zé)任公司發(fā)行公司債券，由董事會制訂方案，股東會作出決議。
Article 163 Where a joint stock limited company or limited liability company
is to issue company bonds， its board of directors shall prepare a plan and the
shareholders' committee shall adopt a resolution on such matter.
國有獨資公司發(fā)行公司債券，應(yīng)由國家授權(quán)投資的機構(gòu)或者國家授權(quán)的部門作出決定。
Where a wholly state-owned company is to issue company bonds， the decision
shall be made by the state authorized investment entity or state authorized
department.
依照前二款規(guī)定作出決議或者決定后，公司應(yīng)當(dāng)向國務(wù)院證券管理部門報請批準。
After a resolution has been adopted or a decision has been made pursuant to
the previous two Paragraphs， the company shall apply to the securities
regulatory authority under the State Council for approval.
第一百六十四條：公司債券的發(fā)行規(guī)模由國務(wù)院確定。國務(wù)院證券管理部門審批公司債券的發(fā)行，不得超過國務(wù)院確定的規(guī)模。
Article 164 The overall volume of company bonds issue shall be determined by
the State Council. In examining and approving application for company bonds
issue， the securities regulatory authority under the State Council may not
extend its approval beyond the volume set by the State Council.
國務(wù)院證券管理部門對符合本法規(guī)定的發(fā)行公司債券的申請，予以批準；對不符合本法規(guī)定的申請，不予批準。
The securities regulatory authority under the State Council shall approve an
application for company bonds issue which complies with the provisions hereof，
and shall not approve an application which fails to comply with the provisions
hereof.
對已作出的批準如發(fā)現(xiàn)不符合本法規(guī)定的，應(yīng)予撤銷。尚未發(fā)行公司債券的，停止發(fā)行；已經(jīng)發(fā)行公司債券的，發(fā)行的公司應(yīng)當(dāng)向認購人退還所繳款項并加算銀行同期存款利息。
Where it has been discovered that an approval given for company bonds issue is
not in compliance with the provisions hereof， such approval shall be revoked. If
the company bonds have not been issued， the issue shall be terminated； if the
company bonds have been issued， the issuing company shall return the proceeds
paid by the subscribers together with the interest thereon as if they have been
deposited in a bank for a like period.
第一百六十五條：：公司向國務(wù)院證券管理部門申請批準發(fā)行公司債券，應(yīng)當(dāng)提交下列文件：
Article 165 For an application to the securities regulatory authority under
the State Council for company bonds issue， the following documents shall be
submitted：
?。ㄒ唬┕镜怯涀C明；
（i） the company's registration certificate；
（二）公司章程；
?。╥i） the articles of association of the company；
?。ㄈ┕緜技k法；
?。╥ii） the plan for company bonds offer；
（四）資產(chǎn)評估報告和驗資報告。
（iv） the assets appraisal report and capital verification report.
第一百六十六條：發(fā)行公司債券的申請經(jīng)批準后，應(yīng)當(dāng)公告公司債券募集辦法。
Article 166 Upon approval of an application for company bonds issue， the plan
for company bonds offer shall be made public.
公司債券募集辦法中應(yīng)當(dāng)載明下列主要事項：
The plan for company bonds offer shall set forth the following major items：
?。ㄒ唬┕久Q；
?。╥） the name of the company；
?。ǘ﹤傤~和債券的票面金額；
?。╥i） the total value of the bonds and the par value of each bond；
?。ㄈ﹤睦剩?
?。╥ii） the rate of interest on the bonds；
?。ㄋ模┻€本付息的期限和方式；
?。╥v） the time limit and method for payment of the principal of and interest on
the bonds；
?。ㄎ澹﹤l(fā)行的起止日期；
?。╲） the commencing and ending date of the bonds issue；
?。┕緝糍Y產(chǎn)額；
（vi） the net assets value of the company；
（七）已發(fā)行的尚未到期的公司債券總額；
?。╲ii） the total value of issued and outstanding company bonds；
?。ò耍┕緜某袖N機構(gòu)。
?。╲iii） the underwriter of the company bonds.
第一百六十七條：公司發(fā)行公司債券，必須在債券上載明公司名稱、債券票面金額、利率、償還期限等事項，并由董事長簽名，公司蓋章。
Article 167 In the case of company bonds issue， a company must state on each
bond certificate the name of the company， the par value of the bond， interest
rate， and repayment period， and the bond certificate shall be signed by the
chairman of the board， and the company's chop shall be impressed thereon.
第一百六十八條：公司債券可分為記名債券和無記名債券。
Article 168 company bonds may be classified as either registered bonds or
bearer bonds.
第一百六十九條：公司發(fā)行公司債券應(yīng)當(dāng)置備公司債券存根簿。
Article 169 If a company has issued bonds， it shall maintain a record of
bondholders.
發(fā)行記名公司債券的，應(yīng)當(dāng)在公司債券存根簿上載明下列事項：
If registered bonds are issued， the following shall be recorded on the
company's record of bondholders：
?。ㄒ唬﹤钟腥说男彰蛘呙Q及住所；
?。╥） the name and domicile of each bondholder；
（二）債券持有人取得債券的日期及債券的編號；
（ii） the dates on which the bondholders acquired the bonds and the serial
numbers of the bond certificates；
?。ㄈ﹤傤~，債券的票面金額，債券的利率，債券的還本付息的期限和方式；
（iii） the total value of the bonds， the par value of each bond， the interest
thereon， the term thereof and method for payment of principal and interest；
?。ㄋ模﹤陌l(fā)行日期。
（iv） the date of issue of the bonds.
發(fā)行無記名公司債券的，應(yīng)當(dāng)在公司債券存根簿上載明債券總額、利率、償還期限和方式、發(fā)行日期及債券的編號。
If bearer company bonds are issued， the company's record of bondholders shall
record the total value of such bonds， the interest rate thereon， the term
thereof and the method for repayment， and the date of issue and the serial
numbers of the bond certificates.
第一百七十條：公司債券可以轉(zhuǎn)讓。轉(zhuǎn)讓公司債券應(yīng)當(dāng)在依法設(shè)立的證券交易場所進行。
Article 170 Company bonds may be assigned. Assignment of company bonds shall
be carried out at a lawfully established securities exchange.
公司債券的轉(zhuǎn)讓價格由轉(zhuǎn)讓人與受讓人約定。
The assignment price of company bonds shall be agreed upon between the
assignor and the assignee.
第一百七十一條：記名債券，由債券持有人以背書方式或者法律、行政法規(guī)規(guī)定的其他方式轉(zhuǎn)讓。
Article 171 Assignment of registered bonds is effected by the bondholder's
endorsement of the bonds or by other methods prescribed by the relevant national
statutes or administrative regulations.
記名債券的轉(zhuǎn)讓，由公司將受讓人的姓名或者名稱及住所記載于公司債券存根簿。
In the case of assignment of registered bonds， the company shall record the
assignee's name and domicile on the record of bondholders.
無記名債券，由債券持有人在依法設(shè)立的證券交易場所將該債券交付給受讓人后即發(fā)生轉(zhuǎn)讓的效力。
Assignment of bearer bonds takes effect upon delivery thereof by the
bondholder to the assignee at a lawfully established securities exchange.
第一百七十二條：上市公司經(jīng)股東大會決議可以發(fā)行可轉(zhuǎn)換為股票的公司債券，并在公司債券募集辦法中規(guī)定具體的轉(zhuǎn)換辦法。
Article 172 Upon adoption of a resolution by the shareholders' general
committee， a listed company may issue bonds which are convertible to its shares，
and it shall prescribe the specific method for such conversion in the plan for
company bonds offer.
發(fā)行可轉(zhuǎn)換為股票的公司債券，應(yīng)當(dāng)報請國務(wù)院證券管理部門批準。公司債券可轉(zhuǎn)換為股票的，除具備發(fā)行公司債券的條件外，還應(yīng)當(dāng)符合股票發(fā)行的條件。
In order to issue convertible company bonds， an application shall be submitted
to the securities regulatory authority under the State Council for approval. In
order to issue convertible company bonds， in addition to meeting the
requirements for issue of bonds， the company shall also meet the requirements
for issue of shares.
發(fā)行可轉(zhuǎn)換為股票的公司債券，應(yīng)當(dāng)在債券上標明可轉(zhuǎn)換公司債券字樣，并在公司債券存根簿上載明可轉(zhuǎn)換公司債券的數(shù)額。
In the case of issue of convertible company bonds， the face of the bond
certificate shall be marked with the word “Convertible，” and the number of
convertible company bonds shall be specified in the company's record of
bondholders.
第一百七十三條：發(fā)行可轉(zhuǎn)換為股票的公司債券的，公司應(yīng)當(dāng)按照其轉(zhuǎn)換辦法向債券持有人換發(fā)股票，但債券持有人對轉(zhuǎn)換股票或者不轉(zhuǎn)換股票有選擇權(quán)。
Article 173 Where convertible company bonds are issued， the company shall
exchange its shares for the bonds held by the bondholders using the prescribed
method of conversion， provided that the bondholders have the option on whether
or not to convert their bonds.
第六章：公司財務(wù)、會計Chapter Six： Financial And Accounting Affairs Of Company
第一百七十四條：公司應(yīng)當(dāng)依照法律、行政法規(guī)和國務(wù)院財政主管部門的規(guī)定建立本公司的財務(wù)、會計制度。
Article 174 A company shall establish its financial and accounting system in
accordance with the relevant national statutes， administrative regulations and
the stipulations of the finance authority under the State Council.
第一百七十五條：公司應(yīng)當(dāng)在每一會計年度終了時制作財務(wù)會計報告，并依法經(jīng)審查驗證。
Article 175 A company shall prepare its financial and accounting reports at
the end of each fiscal year， which shall be reviewed and verified in accordance
with the law.
財務(wù)會計報告應(yīng)當(dāng)包括下列財務(wù)會計報表及附屬明細表：
The financial and accounting reports shall include the following financial and
accounting statements and subsidiary statements：
?。ㄒ唬┵Y產(chǎn)負債表；
?。╥） balance sheet；
?。ǘp益表；
?。╥i） income statement；
?。ㄈ┴攧?wù)狀況變動表；
?。╥ii） statement of cash flow；
（四）財務(wù)情況說明書；
（iv） explanation of financial conditions；
（五）利潤分配表。
（v） statement of profit distribution；
第一百七十六條：有限責(zé)任公司應(yīng)當(dāng)按照公司章程規(guī)定的期限將財務(wù)會計報告送交各股東。
Article 176 A limited liability company shall deliver its financial and
accounting reports to each shareholder within the time limit prescribed by the
articles of association.
股份有限公司的財務(wù)會計報告應(yīng)當(dāng)在召開股東大會年會的二十日以前置備于本公司，供股東查閱。
The financial and accounting reports of a joint stock limited company shall be
available at the company's premises for shareholders' inspection as from the
20th day prior to the annual meeting of shareholders' general committee.
以募集設(shè)立方式成立的股份有限公司必須公告其財務(wù)會計報告。
A joint stock limited company established through public share offer shall
make public its financial and accounting reports.
第一百七十七條：公司分配當(dāng)年稅后利潤時，應(yīng)當(dāng)提取利潤的百分之十列入公司法定公積金，并提取利潤的百分之五至百分之十列入公司法定公益金。公司法定公積金累計額為公司注冊資本的百分之五十以上的，可不再提取。
Article 177 In distribution of its current year after-tax profit， a company
shall allocate 10 percent to its statutory reserve fund， 5 to 10 percent to its
statutory welfare fund. Allocation to the company's statutory reserve fund may
be waived once the cumulative amount of funds therein exceeds 50 percent of the
company's registered capital.
公司的法定公積金不足以彌補上一年度公司虧損的，在依照前款規(guī)定提取法定公積金和法定公益金之前，應(yīng)當(dāng)先用當(dāng)年利潤彌補虧損。
Where the statutory reserve fund is not sufficient to cover the company's loss
from the previous year， the current year profit shall be used to cover such loss
before allocation is made to the statutory reserve fund and the statutory
welfare fund pursuant to the previous Paragraph.
公司在從稅后利潤中提取法定公積金后，經(jīng)股東會決議，可以提取任意公積金。
After allocation to the statutory reserve fund has been made from the
after-tax profit of the company， and upon adoption of a resolution by the
shareholders' committee， allocation may be made to the discretionary reserve
fund.
公司彌補虧損和提取公積金、法定公益金后所余利潤，有限責(zé)任公司按照股東的出資比例分配，股份有限公司按照股東持有的股份比例分配。
After the company has covered its losses， and made allocation to the reserve
funds and statutory welfare fund， the remainder of the profit shall be
distributed to the shareholders in proportion to their capital contribution in
the case of a limited liability company， and in proportion to their share
holdings in the case of a joint stock limited company.
股東會或者董事會違反前款規(guī)定，在公司彌補虧損和提取法定公積金、法定公益金之前向股東分配利潤的，必須將違反規(guī)定分配的利潤退還公司。
If the shareholders' committee or the board of directors， in violation of the
previous Paragraph， distributes profit to the shareholders before covering
company losses and making allocation to company statutory reserve fund and
statutory welfare fund， the profit so distributed must be returned to the
company.
第一百七十八條：股份有限公司依照本法規(guī)定，以超過股票票面金額的發(fā)行價格發(fā)行股份所得的溢價款以及國務(wù)院財政主管部門規(guī)定列入資本公積金的其他收入，應(yīng)當(dāng)列為公司資本公積金。
Article 178 The premium received by a joint stock limited company through
issuance of shares at prices above par value in accordance herewith， as well as
other incomes to be allocated to the capital reserve fund as stipulated by the
finance authority under the State Council， shall be allocated to the capital
reserve fund.
第一百七十九條：公司的公積金用于彌補公司的虧損，擴大公司生產(chǎn)經(jīng)營或者轉(zhuǎn)為增加公司資本。
Article 179 The reserve funds of the company shall be used to cover company
losses， expand its production and operation， or be converted to the company's
increased capital.
股份有限公司經(jīng)股東大會決議將公積金轉(zhuǎn)為資本時，按股東原有股份比例派送新股或者增加每股面值。但法定公積金轉(zhuǎn)為資本時，所留存的該項公積金不得少于注冊資本的百分之二十五。
Where a joint stock limited company， upon adoption of a resolution by the
shareholders' general committee， is to convert the reserve funds into company
capital， new shares shall be distributed to the shareholders in proportion to
their original share holdings， or the par value of each share shall be
increased. Provided， however， upon conversion of statutory reserve fund into
capital， the amount remaining in the statutory reserve fund may not fall below
25 percent of the registered capital.
第一百八十條：公司提取的法定公益金用于本公司職工的集體福利。
Article 180 The statutory welfare fund allocated by the company shall be used
for the collective welfare of the workers thereof.
第一百八十一條：公司除法定的會計帳冊外，不得另立會計帳冊。對公司資產(chǎn)，不得以任何個人名義開立帳戶存儲。
Article 181 The company may not establish any separate accounting book besides
the accounting books prescribed by law. The company's assets may not be
deposited into any account established under an individual's name.
第七章：公司合并、分立Chapter Seven： Merger And Division Of Company
第一百八十二條：公司合并或者分立，應(yīng)當(dāng)由公司的股東會作出決議。
Article 182 If a company is to undergo merger or division， its shareholders'
committee shall adopt a resolution.
第一百八十三條：股份有限公司合并或者分立，必須經(jīng)國務(wù)院授權(quán)的部門或者省級人民政府批準。
Article 183 The merger or division of a joint stock limited company is subject
to approval by the department authorized by the State Council or the People's
Government at the provincial level.
第一百八十四條：公司合并可以采取吸收合并和新設(shè)合并兩種形式。
Article 184 Companies may be merged in two forms， i.e. merger by absorption
and merger by consolidation.
一個公司吸收其他公司為吸收合并，被吸收的公司解散。二個以上公司合并設(shè)立一個新的公司為新設(shè)合并，合并各方解散。
One company absorbing another company is merger by absorption， and the company
being absorbed shall be dissolved. Merger of two or more Companies through
establishment of a new company is a consolidation， and the companies being
consolidated shall be dissolved.
公司合并，應(yīng)當(dāng)由合并各方簽訂合并協(xié)議，并編制資產(chǎn)負債表及財產(chǎn)清單。公司應(yīng)當(dāng)自作出合并決議之日起十日內(nèi)通知債權(quán)人，并于三十日內(nèi)在報紙上至少公告三次。債權(quán)人自接到通知書之日起三十日內(nèi)，未接到通知書的自第一次公告之日起九十日內(nèi)，有權(quán)要求公司清償債務(wù)或者提供相應(yīng)的擔(dān)保。不清償債務(wù)或者不提供相應(yīng)的擔(dān)保的，公司不得合并。
In a merger of companies， the companies shall execute a merger agreement， and
prepare their respective balance sheets and schedules of assets. The companies
shall notify their creditors within 10 days of adoption of merger resolutions，
and shall publish a notice at least 3 times in a newspaper within 30 days.
Creditors are entitled to claim full payment of the debts of the companies or
require the provision of appropriate assurances within 30 days of receipt of the
notice， or within 90 days of publication of the first notice if such creditors
did not receive the notice. The companies may not be merged unless debts are
fully paid or appropriate assurances are provided.
公司合并時，合并各方的債權(quán)、債務(wù)，應(yīng)當(dāng)由合并后存續(xù)的公司或者新設(shè)的公司承繼。
Once the companies are merged， the creditor's rights and debtor's liabilities
of the merged companies shall be assumed by the surviving company or the newly
formed company after merger.
第一百八十五條：公司分立，其財產(chǎn)作相應(yīng)的分割。
Article 185 Where a company is to undergo division， its assets shall be
divided accordingly.
公司分立時，應(yīng)當(dāng)編制資產(chǎn)負債表及財產(chǎn)清單。公司應(yīng)當(dāng)自作出分立決議之日起十日內(nèi)通知債權(quán)人，并于三十日內(nèi)在報紙上至少公告三次。債權(quán)人自接到通知書之日起三十日內(nèi)，未接到通知書的自第一次公告之日起九十日內(nèi)，有權(quán)要求公司清償債務(wù)或者提供相應(yīng)的擔(dān)保。不清償債務(wù)或者不提供相應(yīng)的擔(dān)保的，公司不得分立。
In dividing the company， a balance sheet and a schedule of assets shall be
prepared. The company shall notify its creditors within 10 days of adoption of a
division resolution， and shall publish a notice at least 3 times in a newspaper
within 30 days. Creditors are entitled to claim full payment of the company's
debts or require the provision of appropriate assurances within 30 days of
receipt of the notice， or within 90 days of publication of the first notice if
such creditors did not receive the notice. The company may not be divided unless
debts are fully paid or appropriate assurances are provided.
公司分立前的債務(wù)按所達成的協(xié)議由分立后的公司承擔(dān)。
The liabilities of the company prior to its division shall be assumed by the
companies resulting from the division according to the agreement reached among
them.
第一百八十六條：公司需要減少注冊資本時，必須編制資產(chǎn)負債表及財產(chǎn)清單。
Article 186 Where a company needs to reduce its registered capital， a balance
sheet and a schedule of assets must be prepared.
公司應(yīng)當(dāng)自作出減少注冊資本決議之日起十日內(nèi)通知債權(quán)人，并于三十日內(nèi)在報紙上至少公告三次。債權(quán)人自接到通知書之日起三十日內(nèi)，未接到通知書的自第一次公告之日起九十日內(nèi)，有權(quán)要求公司清償債務(wù)或者提供相應(yīng)的擔(dān)保。
The company shall notify its creditors within 10 days of adoption of a
resolution to reduce its registered capital， and shall publish a notice at least
3 times in a newspaper within 30 days. Creditors are entitled to claim full
payment of the company's debts or require the provision of appropriate
assurances within 30 days of receipt of the notice， or within 90 days of
publication of the first notice if such creditors did not receive the notice.
公司減少資本后的注冊資本不得低于法定的最低限額。
After capital reduction， the company's registered capital may not fall below
the statutory minimum capital level.
第一百八十七條：有限責(zé)任公司增加注冊資本時，股東認繳新增資本的出資，按照本法設(shè)立有限責(zé)任公司繳納出資的有關(guān)規(guī)定執(zhí)行。
Article 187 When a limited liability company is to increase its registered
capital， after subscription for the newly increased capital， the shareholders
shall make capital contribution in accordance with the provisions hereof
concerning capital contribution for the establishment of a limited liability
company.
股份有限公司為增加注冊資本發(fā)行新股時，股東認購新股應(yīng)當(dāng)按照本法設(shè)立股份有限公司繳納股款的有關(guān)規(guī)定執(zhí)行。
When a joint stock limited company is to issue new shares for the purpose of
increasing its registered capital， the shareholders' subscription for the new
shares shall be carried out in accordance with the provisions hereof concerning
payment of share proceeds for the establishment of a joint stock limited
company.
第一百八十八條：公司合并或者分立，登記事項發(fā)生變更的，應(yīng)當(dāng)依法向公司登記機關(guān)辦理變更登記；公司解散的，應(yīng)當(dāng)依法辦理公司注銷登記；設(shè)立新公司的，應(yīng)當(dāng)依法辦理公司設(shè)立登記。
Article 188 In the case of merger or division of a company， where any
registered item requires change， amendment registration shall be carried out
with the company registration authority in accordance with the law； where the
company is dissolved， company de-registration shall be carried out in accordance
with the law； where a new company is established， establishment registration
shall be carried out in accordance with the law.
公司增加或者減少注冊資本，應(yīng)當(dāng)依法向公司登記機關(guān)辦理變更登記。
Where a company is to increase or reduce its registered capital， a amendment
registration shall be carried out with the company registration authority in
accordance with the law.
第八章：公司破產(chǎn)、解散和清算Chapter Eight： Bankruptcy， Dissolution And Liquidation Of
Company
第一百八十九條：公司因不能清償?shù)狡趥鶆?wù)，被依法宣告破產(chǎn)的，由人民法院依照有關(guān)法律的規(guī)定，組織股東、有關(guān)機關(guān)及有關(guān)專業(yè)人員成立清算組，對公司進行破產(chǎn)清算。
Article 189 Where a company is adjudged bankrupt in accordance with the law
due to its failure to repay debts when due， the People's Court shall organize
the shareholders， the relevant authorities and professionals to establish a
liquidating committee to carry out the company's bankruptcy liquidation in
accordance with the provisions of the applicable laws.
第一百九十條：公司有下列情形之一的，可以解散：
Article 190 A company may be dissolved in any of the following circumstances：
?。ㄒ唬┕菊鲁桃?guī)定的營業(yè)期限屆滿或者公司章程規(guī)定的其他解散事由出現(xiàn)時；
?。╥） the term of operation prescribed by the company's articles of association
has expired， or any other cause for dissolution prescribed by the company's
articles of association has occurred；
?。ǘ┕蓶|會決議解散；
?。╥i） the shareholders' committee has adopted a resolution for dissolution；
（三）因公司合并或者分立需要解散的。
?。╥ii） dissolution is required due to merger or division of the company.
第一百九十一條：公司依照前條第（一）項、第（二）項規(guī)定解散的，應(yīng)當(dāng)在十五日內(nèi)成立清算組，有限責(zé)任公司的清算組由股東組成，股份有限公司的清算組由股東大會確定其人選；逾期不成立清算組進行清算的，債權(quán)人可以申請人民法院指定有關(guān)人員組成清算組，進行清算。人民法院應(yīng)當(dāng)受理該申請，并及時指定清算組成員，進行清算。
Article 191 Where a company is to be dissolved pursuant to Item （i） or （ii） of
the previous Article， a liquidating committee shall be formed within 15 days；
the liquidating committee of a limited liability company shall be composed of
its shareholders， and members of the liquidating committee of a joint stock
limited company shall be determined by the shareholders' general committee；
where the company fails to form a liquidating committee to carry out liquidation
within the prescribed time limit， its creditors may petition the People's Court
to appoint the relevant persons to form a liquidating committee to carry out
liquidation. The People's Court shall accept such petition， and promptly appoint
members of the liquidating committee to carry out liquidation.
第一百九十二條：公司違反法律、行政法規(guī)被依法責(zé)令關(guān)閉的，應(yīng)當(dāng)解散，由有關(guān)主管機關(guān)組織股東、有關(guān)機關(guān)及有關(guān)專業(yè)人員成立清算組，進行清算。
Article 192 Where the company is ordered to terminate due to its violation of
law or administrative regulations， the company shall be dissolved， and the
relevant department in charge shall organize the shareholders， the relevant
authority and related professionals to form a liquidating committee to carry out
liquidation.
第一百九十三條：清算組在清算期間行使下列職權(quán)：
Article 193 The liquidating committee shall exercise the following authorities
in the course of liquidation：
?。ㄒ唬┣謇砉矩敭a(chǎn)，分別編制資產(chǎn)負債表和財產(chǎn)清單；
?。╥） identifying the company's assets， and preparing a balance sheet and a
schedule of assets respectively；
?。ǘ┩ㄖ蛘吖?zhèn)鶛?quán)人；
?。╥i） notifying creditors through notice or public announcement；
（三）處理與清算有關(guān)的公司未了結(jié)的業(yè)務(wù)；
?。╥ii） handling the company's ongoing businesses which are related to
liquidation；
?。ㄋ模┣謇U所欠稅款；
?。╥v） making full payment of taxes owed；
?。ㄎ澹┣謇韨鶛?quán)、債務(wù)；
?。╲） identifying the company's creditor's rights and debtor's liabilities；
?。┨幚砉厩鍍攤鶆?wù)后的剩余財產(chǎn)；
?。╲i） disposing of the remaining assets after full payment of company debts；
?。ㄆ撸┐砉緟⑴c民事訴訟活動。
?。╲ii） participating in civil actions on behalf of the company.
第一百九十四條：清算組應(yīng)當(dāng)自成立之日起十日內(nèi)通知債權(quán)人，并于六十日內(nèi)在報紙上至少公告三次。債權(quán)人應(yīng)當(dāng)自接到通知書之日起三十日內(nèi)，未接到通知書的自第一次公告之日起九十日內(nèi)，向清算組申報其債權(quán)。
Article 194 The liquidating committee shall notify creditors within 10 days of
its establishment， and shall make a public announcement in a newspaper at least
3 times within 60 days. Creditors shall file their creditor's rights with the
liquidating committee within 30 days of receipt of the notice， and within 90
days of publication of the first notice if such creditors did not receive the
notice.
債權(quán)人申報其債權(quán)，應(yīng)當(dāng)說明債權(quán)的有關(guān)事項，并提供證明材料。清算組應(yīng)當(dāng)對債權(quán)進行登記。
In filing for creditor's rights， the creditors shall state the relevant
matters relating to the creditor's rights， and provide supporting materials. The
liquidating committee shall record such creditor's rights.
第一百九十五條：清算組在清理公司財產(chǎn)、編制資產(chǎn)負債表和財產(chǎn)清單后，應(yīng)當(dāng)制定清算方案，并報股東會或者有關(guān)主管機關(guān)確認。
Article 195 After identifying the company's assets and preparing the balance
sheet and schedule of assets， the liquidating committee shall prepare a
liquidating plan， which shall be submitted to the shareholders' committee or the
relevant authority for ratification.
公司財產(chǎn)能夠清償公司債務(wù)的，分別支付清算費用、職工工資和勞動保險費用，繳納所欠稅款，清償公司債務(wù)。
Where the company's assets are sufficient for payment of company debts， such
assets shall be paid out in the following order： payment of liquidating
expenses， payment of wages and expenses for labor insurance of the workers，
payment of taxes owed， and payment of company debts.
公司財產(chǎn)按前款規(guī)定清償后的剩余財產(chǎn)，有限責(zé)任公司按照股東的出資比例分配，股份有限公司按照股東持有的股份比例分配。
After payments have been made in accordance with the previous Paragraph， the
remaining assets shall be distributed to the shareholders in proportion to their
shares of capital contribution in the case of a limited liability company， and
in proportion to their share holdings in the case of a joint stock limited
company.
清算期間，公司不得開展新的經(jīng)營活動。公司財產(chǎn)在未按第二款的規(guī)定清償前，不得分配給股東。
In the course of liquidation， the company may not conduct new business. Before
payments have been made in accordance with Paragraph 2 above， the assets of the
company may not be distributed to the shareholders.
第一百九十六條：因公司解散而清算，清算組在清理公司財產(chǎn)、編制資產(chǎn)負債表和財產(chǎn)清單后，發(fā)現(xiàn)公司財產(chǎn)不足清償債務(wù)的，應(yīng)當(dāng)立即向人民法院申請宣告破產(chǎn)。
Article 196 Where a company commences liquidation due to its dissolution， and
after identification of company assets and preparation of the balance sheet and
schedule of assets， the liquidating committee discovers that the company does
not have sufficient assets to fully repay company debts， the liquidating
committee shall immediately file a bankruptcy application with the People's
Court.
公司經(jīng)人民法院裁定宣告破產(chǎn)后，清算組應(yīng)當(dāng)將清算事務(wù)移交給人民法院。
Once the company is adjudged bankrupt by a ruling of the People's Court， the
liquidating committee shall transfer the liquidating affairs to the People's
Court.
第一百九十七條：公司清算結(jié)束后，清算組應(yīng)當(dāng)制作清算報告，報股東會或者有關(guān)主管機關(guān)確認，并報送公司登記機關(guān)，申請注銷公司登記，公告公司終止。不申請注銷公司登記的，由公司登記機關(guān)吊銷其公司營業(yè)執(zhí)照，并予以公告。
Article 197 Upon completion of a company's liquidation， the liquidating
committee shall prepare a liquidating report， which shall be submitted to the
shareholders' committee or the relevant authority for ratification， and upon
ratification， the liquidating committee shall submit such report to the company
registration authority to apply for company de-registration， and make a public
announcement of the company's termination. Where the company fails to apply for
company de-registration， the company registration authority shall revoke its
business license and make a public announcement.
第一百九十八條：清算組成員應(yīng)當(dāng)忠于職守，依法履行清算義務(wù)。
Article 198 Members of the liquidating committee shall faithfully perform
their duties and carry out their liquidating obligations in accordance with the
law.
清算組成員不得利用職權(quán)收受賄賂或者其他非法收入，不得侵占公司財產(chǎn)。
Members of the liquidating committee may not abuse their authorities by
accepting bribes or receiving other illegal income， and may not misappropriate
company assets.
清算組成員因故意或者重大過失給公司或者債權(quán)人造成損失的，應(yīng)當(dāng)承擔(dān)賠償責(zé)任。
A committee member who causes loss to the company or its creditors due to his
intentional misconduct or gross negligence shall be liable for damages.
第九章：外國公司的分支機構(gòu)Chapter Nine： Branch Of Foreign Company
第一百九十九條：外國公司依照本法規(guī)定可以在中國境內(nèi)設(shè)立分支機構(gòu)，從事生產(chǎn)經(jīng)營活動。
Article 199 Foreign companies may establish branches within China to conduct
business in accordance herewith.
本法所稱外國公司是指依照外國法律在中國境外登記成立的公司。
A foreign company referred to herein means a company registered and
established outside China under foreign laws.
第二百條：外國公司在中國境內(nèi)設(shè)立分支機構(gòu)，必須向中國主管機關(guān)提出申請，并提交其公司章程、所屬國的公司登記證書等有關(guān)文件，經(jīng)批準后，向公司登記機關(guān)依法辦理登記，領(lǐng)取營業(yè)執(zhí)照。
Article 200 In order to establish a branch within China， a foreign company
must submit an application to the Chinese authority in charge， together with the
relevant documents such as its articles of association， the company registration
certificate issued in its home country， etc. Upon approval， it shall carry out
registration with the company registration authority and be issued a business
license.
外國公司分支機構(gòu)的審批辦法由國務(wù)院另行規(guī)定。
The examination and approval procedure for branches of foreign companies shall
be separately prescribed by the State Council.
第二百零一條：外國公司在中國境內(nèi)設(shè)立分支機構(gòu)，必須在中國境內(nèi)指定負責(zé)該分支機構(gòu)的代表人或者代理人，并向該分支機構(gòu)撥付與其所從事的經(jīng)營活動相適應(yīng)的資金。
Article 201 In order to establish a branch within China， a foreign company
must appoint a representative or agent in charge of such branch within China，
and fund its branch as appropriate in light of the nature of its intended
business.
對外國公司分支機構(gòu)的經(jīng)營資金需要規(guī)定最低限額的，由國務(wù)院另行規(guī)定。
Where operation of certain branches of foreign companies is subject to a
minimum level of funding， such level shall be prescribed by the State Council
separately.
第二百零二條：外國公司的分支機構(gòu)應(yīng)當(dāng)在其名稱中標明該外國公司的國籍及責(zé)任形式。
Article 202 The branch of a foreign company shall identify the nationality and
form of liability in its name.
外國公司的分支機構(gòu)應(yīng)當(dāng)在本機構(gòu)中置備該外國公司章程。
The branch of a foreign company shall maintain the articles of association of
such foreign company on its premises.
第二百零三條：外國公司屬于外國法人，其在中國境內(nèi)設(shè)立的分支機構(gòu)不具有中國法人資格。
Article 203 A foreign company is a foreign legal person， and its branch
established within China does not have the status of a Chinese legal person.
外國公司對其分支機構(gòu)在中國境內(nèi)進行經(jīng)營活動承擔(dān)民事責(zé)任。
A foreign company shall bear civil liabilities in respect of the business
conducted by its branch within China.
第二百零四條：經(jīng)批準設(shè)立的外國公司分支機構(gòu)，在中國境內(nèi)從事業(yè)務(wù)活動，必須遵守中國的法律，不得損害中國的社會公共利益，其合法權(quán)益受中國法律保護。
Article 204 While conducting business within China， the branch of a foreign
company established after approval must abide by Chines law， and may not harm
the public interest of China， and its lawful rights and interests are protected
by Chinese law.
第二百零五條：外國公司撤銷其在中國境內(nèi)的分支機構(gòu)時，必須依法清償債務(wù)，按照本法有關(guān)公司清算程序的規(guī)定進行清算。未清償債務(wù)之前，不得將其分支機構(gòu)的財產(chǎn)移至中國境外。
Article 205 When a foreign company cancels its branch within China， such
company must fully repay the debts thereof in accordance with the law and carry
out liquidation in accordance with the provisions hereof concerning company
liquidation procedure. The company may not transfer the assets of such branch
abroad prior to full repayment of its debts.
第十章：法律責(zé)任Chapter Ten： Legal Liabilities
第二百零六條：違反本法規(guī)定，辦理公司登記時虛報注冊資本、提交虛假證明文件或者采取其他欺詐手段隱瞞重要事實取得公司登記的，責(zé)令改正，對虛報注冊資本的公司，處以虛報注冊資本金額百分之五以上百分之十以下的罰款；對提交虛假證明文件或者采取其他欺詐手段隱瞞重要事實的公司，處以一萬元以上十萬元以下的罰款；情節(jié)嚴重的，撤銷公司登記。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 206 In the case of company registration， where an applicant obtains
company registration in violation hereof by making false statement of registered
capital， submitting false certificates or by concealing material facts through
other fraudulent means， the company shall be ordered to make rectification， and
in case false statement of registered capital was made， the company shall be
fined not less than 5 percent but not more than 10 percent of the amount of
registered capital falsely stated； the company submitting false certificates or
concealing material facts shall be fined not less than 10，000 Yuan but not more
than 100，000 Yuan； where the circumstances are serious， the company registration
shall be revoked. Where such action constitutes a crime， criminal liability
shall be imposed in accordance with the law.
第二百零七條：制作虛假的招股說明書、認股書、公司債券募集辦法發(fā)行股票或者公司債券的，責(zé)令停止發(fā)行，退還所募資金及其利息，處以非法募集資金金額百分之一以上百分之五以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 207 In the case of issue of company shares or bonds， where the
prospectus， subscription form， or plan for company bonds offer is falsely
prepared， the issuing activities shall be ordered to cease， and an order shall
be issued for the return of the proceeds received together with interest
thereon， and a fine of not less than 1 percent but not more than 5 percent of
the proceeds illegally received shall be imposed. Where such action constitutes
a crime， criminal liability shall be imposed in accordance with the law.
第二百零八條：公司的發(fā)起人、股東未交付貨幣、實物或者未轉(zhuǎn)移財產(chǎn)權(quán)，虛假出資，欺騙債權(quán)人和社會公眾的，責(zé)令改正，處以虛假出資金額百分之五以上百分之十以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 208 In the case of capital contribution， where the sponsors or
shareholders falsify capital contribution by failing to pay money， to deliver
tangible goods or to transfer property rights， thus defrauding the creditors or
the public， rectification shall be ordered， and such persons shall be fined not
less than 5 percent but not more than 10 percent of the amount of capital
contribution falsified. Where such action constitutes a crime， criminal
liability shall be imposed in accordance with the law.
第二百零九條：公司的發(fā)起人、股東在公司成立后，抽逃其出資的，責(zé)令改正，處以所抽逃出資金額百分之五以上百分之十以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 209 Where the sponsors or shareholders of a company withdraw their
capital contribution after the establishment of the company， they shall be
ordered to make rectification， and such persons shall be fined not less than 5
percent but not more than 10 percent of the amount of capital contribution
withdrawn. Where such action constitutes a crime， criminal liability shall be
imposed in accordance with the law.
第二百一十條：未經(jīng)本法規(guī)定的有關(guān)主管部門的批準，擅自發(fā)行股票或者公司債券的，責(zé)令停止發(fā)行，退還所募資金及其利息，處以非法所募資金金額百分之一以上百分之五以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 210 Where a company issues company shares or bonds on its own without
approval by the appropriate authorities provided for herein， the issuing
activities shall be ordered to cease， and the proceeds received， together with
interest thereon， shall be returned， and a fine of not less than 1 percent but
not more than 5 percent of the proceeds illegally received shall be imposed.
Where such action constitutes a crime， criminal liability shall be imposed in
accordance with the law.
第二百一十一條：公司違反本法規(guī)定，在法定的會計帳冊以外另立會計帳冊的，責(zé)令改正，處以一萬元以上十萬元以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 211 Where a company， in violation hereof， establishes another set of
accounting books besides those prescribed by law， it shall be ordered to make
rectification， and the company shall be fined not less than 10，000 Yuan but not
more than 100，000 Yuan. Where such action constitutes a crime， criminal
liability shall be imposed in accordance with the law.
將公司資產(chǎn)以任何個人名義開立帳戶存儲的，沒收違法所得，并處以違法所得一倍以上五倍以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Where company assets are deposited into an account established under an
individual's name， the illegal gain shall be confiscated， and a fine of not less
than 2 times but not more than 5 times of the illegal gain shall be imposed.
Where such action constitutes a crime， criminal liability shall be imposed in
accordance with the law.
第二百一十二條：公司向股東和社會公眾提供虛假的或者隱瞞重要事實的財務(wù)會計報告的，對直接負責(zé)的主管人員和其他直接責(zé)任人員處以一萬元以上十萬元以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 212 Where a company provides to its shareholders and the public
financial and accounting reports which are false or which conceal material
facts， a fine of not less than 10，000 Yuan but not more than 100，000 Yuan shall
be imposed on the supervisor directly in charge and the other person（s） directly
responsible. Where such action constitutes a crime， criminal liability shall be
imposed in accordance with the law.
第二百一十三條：違反本法規(guī)定，將國有資產(chǎn)低價折股、低價出售或者無償分給個人的，對直接負責(zé)的主管人員和其他直接責(zé)任人員依法給予行政處分。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 213 Where， in violation hereof， state-owned assets are converted into
shares at low prices or sold to individuals at low prices， or distributed to
individuals without compensation， administrative penalty shall be imposed on the
supervisor directly in charge and the other person（s） directly responsible.
Where such action constitutes a crime， criminal liability shall be imposed in
accordance with the law.
第二百一十四條：董事、監(jiān)事、經(jīng)理利用職權(quán)收受賄賂、其他非法收入或者侵占公司財產(chǎn)的，沒收違法所得，責(zé)令退還公司財產(chǎn)，由公司給予處分。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 214 Where the directors， supervisors， or the general manager abuse
their authorities by accepting bribes or receiving other illegal income， or
convert company assets， any such illegal gain shall be confiscated， and they
shall be ordered to return the company assets and shall be disciplined by the
company. Where such action constitutes a crime， criminal liability shall be
imposed in accordance with the law.
董事、經(jīng)理挪用公司資金或者將公司資金借貸給他人的，責(zé)令退還公司的資金，由公司給予處分，將其所得收入歸公司所有。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Where a director or the general manager misappropriates company funds or loan
company funds to third parties， he shall be ordered to return the company funds
and shall be disciplined by the company， and the income derived from such
transaction shall be turned over to the company. Where such action constitutes a
crime， criminal liability shall be imposed in accordance with the law.
董事、經(jīng)理違反本法規(guī)定，以公司資產(chǎn)為本公司的股東或者其他個人債務(wù)提供擔(dān)保的，責(zé)令取消擔(dān)保，并依法承擔(dān)賠償責(zé)任，將違法提供擔(dān)保取得的收入歸公司所有。情節(jié)嚴重的，由公司給予處分。
Where， in violation hereof， the directors or the general manager gives company
assets as security for the personal debts of any director of the company or any
other person， the security arrangement shall be ordered to be canceled， and such
persons shall be held liable for damages in accordance with the law， and the
income derived from the illegal provision of security shall be turned over to
the company. Where the circumstance is serious， such persons shall be
disciplined by the company.
第二百一十五條：董事、經(jīng)理違反本法規(guī)定自營或者為他人經(jīng)營與其所任職公司同類的營業(yè)的，除將其所得收入歸公司所有外，并可由公司給予處分。
Article 215 Where， in violation hereof， a director or the general manager
engages in the same business as the company either for his own account or for
another person's account， in addition to turning over any income so derived to
the company， such person may also be disciplined by the company.
第二百一十六條：公司不按照本法規(guī)定提取法定公積金、法定公益金的，責(zé)令如數(shù)補足應(yīng)當(dāng)提取的金額，并可對公司處以一萬元以上十萬元以下的罰款。
Article 216 Where a company fails to make allocation to the statutory reserve
fund and statutory welfare fund in accordance herewith， such company shall be
ordered to make full allocation to the required funds， and a fine of not less
than 10，000 Yuan but not more than 100，000 Yuan may be levied on the company.
第二百一十七條：公司在合并、分立、減少注冊資本或者進行清算時，不按照本法規(guī)定通知或者公告?zhèn)鶛?quán)人的，責(zé)令改正，對公司處以一萬元以上十萬元以下的罰款。
Article 217 Where a company fails to notify creditors through notice or public
announcement in accordance herewith while carrying out merger， division，
reduction of registered capital， or liquidation， it shall be ordered to make
rectification， and the company shall be fined not less than 10，000 Yuan but not
more than 100，000 Yuan.
公司在進行清算時，隱匿財產(chǎn)，對資產(chǎn)負債表或者財產(chǎn)清單作虛偽記載或者未清償債務(wù)前分配公司財產(chǎn)的，責(zé)令改正，對公司處以隱匿財產(chǎn)或者未清償債務(wù)前分配公司財產(chǎn)金額百分之一以上百分之五以下的罰款。對直接負責(zé)的主管人員和其他直接責(zé)任人員處以一萬元以上十萬元以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Where in the course of liquidation， the company conceals its assets， makes
false statements in its balance sheet or schedule of assets， or distributes
company assets prior to full repayment of company debts， it shall be ordered to
make rectification， and the company shall be fined not less than 1 percent but
not more than 5 percent of the value of the concealed assets， or the value of
the assets distributed prior to full repayment of company debts. A fine of not
less than 10，000 Yuan but not more than 100，000 Yuan shall be imposed on the
supervisor directly in charge and the other person（s） directly responsible.
Where such action constitutes a crime， criminal liability shall be imposed in
accordance with the law.
第二百一十八條：清算組不按照本法規(guī)定向公司登記機關(guān)報送清算報告，或者報送清算報告隱瞞重要事實或者有重大遺漏的，責(zé)令改正。
Article 218 Where the liquidating committee fails to submit the liquidating
report to the company registration authority in accordance herewith， or conceals
any material fact or makes any material omission in the liquidating report
submitted， it shall be ordered to make rectification.
清算組成員利用職權(quán)徇私舞弊、謀取非法收入或者侵占公司財產(chǎn)的，責(zé)令退還公司財產(chǎn)，沒收違法所得，并可處以違法所得一倍以上五倍以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Where a member of the liquidating committee abuses his authority to engage in
fraudulent activity for private gain， to obtain illegal income or convert
company assets， such member shall be ordered to return the company assets， and
the illegal income shall be confiscated， and such member may be fined not less
than 2 times but not more than 5 times the illegal income. Where such action
constitutes a crime， criminal liability shall be imposed in accordance with the
law.
第二百一十九條：承擔(dān)資產(chǎn)評估、驗資或者驗證的機構(gòu)提供虛假證明文件的，沒收違法所得，處以違法所得一倍以上五倍以下的罰款，并可由有關(guān)主管部門依法責(zé)令該機構(gòu)停業(yè)，吊銷直接責(zé)任人員的資格證書。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 219 Where an institution conducting assets appraisal， capital
verification， or testing and verification provides a false certificate， the
illegal income so derived shall be confiscated， and a fine of not less than 2
times but not more than 5 times the illegal income shall be imposed， and the
relevant authority in charge may order such institution to cease operation， and
revoke the qualification certificates of the persons directly responsible. Where
such action constitutes a crime， criminal liability shall be imposed in
accordance with the law.
承擔(dān)資產(chǎn)評估、驗資或者驗證的機構(gòu)因過失提供有重大遺漏的報告的，責(zé)令改正，情節(jié)較重的，處以所得收入一倍以上三倍以下的罰款，并可由有關(guān)主管部門依法責(zé)令該機構(gòu)停業(yè)，吊銷直接責(zé)任人員的資格證書。
Where an institution conducting assets appraisal， capital verification or
testing and verification provides a report with material omission due to its
negligence， it shall be ordered to make rectification， and where the
circumstance is relatively serious， a fine of not less than 2 times but not more
than 3 times the income so derived shall be imposed， and the relevant authority
in charge may order such institution to cease operation， and revoke the
qualification certificates of the persons directly responsible.
第二百二十條：國務(wù)院授權(quán)的有關(guān)主管部門，對不符合本法規(guī)定條件的設(shè)立公司的申請予以批準，或者對不符合本法規(guī)定條件的股份發(fā)行的申請予以批準，情節(jié)嚴重的，對直接負責(zé)的主管人員和其他直接責(zé)任人員，依法給予行政處分。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 220 Where the relevant authority in charge authorized by the State
Council approves an application for the establishment of a company which fails
to meet the requirements prescribed herein， or approves an application for issue
of shares which fails to meet the requirements prescribed herein， and the
circumstance is serious， administrative penalty shall be imposed on the
supervisor directly in charge and the other person（s） directly responsible in
accordance with the law. Where such action constitutes a crime， criminal
liability shall be imposed in accordance with the law.
第二百二十一條：國務(wù)院證券管理部門對不符合本法規(guī)定條件的募集股份、股票上市和債券發(fā)行的申請予以批準，情節(jié)嚴重的，對直接負責(zé)的主管人員和其他直接責(zé)任人員，依法給予行政處分。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 221 Where the securities regulatory authority under the State Council
approves an application for share offer， share listing， or bonds issue which
fails to meet the requirements prescribed herein， and the circumstance is
serious， administrative penalty shall be imposed on the supervisor directly in
charge and the other person（s） directly responsible in accordance with the law.
Where such action constitutes a crime， criminal liability shall be imposed in
accordance with the law.
第二百二十二條：公司登記機關(guān)對不符合本法規(guī)定條件的登記申請予以登記，情節(jié)嚴重的，對直接負責(zé)的主管人員和其他直接責(zé)任人員，依法給予行政處分。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 222 Where the company registration authority grants registration to an
application which fails to meet the requirements prescribed herein， and the
circumstance is serious， administrative penalty shall be imposed on the
supervisor directly in charge and the other person（s） directly responsible in
accordance with the law. Where such action constitutes a crime， criminal
liability shall be imposed in accordance with the law.
第二百二十三條：公司登記機關(guān)的上級部門強令公司登記機關(guān)對不符合本法規(guī)定條件的登記申請予以登記的，或者對違法登記進行包庇的，對直接負責(zé)的主管人員和其他直接責(zé)任人員依法給予行政處分。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 223 Where the department in charge of the company registration
authority compels it to grant registration to an application which fails to meet
the requirements prescribed herein， or engages in cover up for an illegal
registration， administrative penalty shall be imposed on the supervisor directly
in charge and the other person（s） directly responsible in accordance with the
law. Where such action constitutes a crime， criminal liability shall be imposed
in accordance with the law.
第二百二十四條：未依法登記為有限責(zé)任公司或者股份有限公司，而冒用有限責(zé)任公司或者股份有限公司名義的，責(zé)令改正或者予以取締，并可處以一萬元以上十萬元以下的罰款。構(gòu)成犯罪的，依法追究刑事責(zé)任。
Article 224 Where an entity passes itself off as a limited liability company
or joint stock limited company while not registered as such in accordance with
the law， it shall be ordered to make rectification or such entity shall be
closed down， and a fine of not less than 10，000 Yuan but not more than 100，000
Yuan may be imposed. Where such action constitutes a crime， criminal liability
shall be imposed in accordance with the law.
第二百二十五條：公司成立后無正當(dāng)理由超過六個月未開業(yè)的，或者開業(yè)后自行停業(yè)連續(xù)六個月以上的，由公司登記機關(guān)吊銷其公司營業(yè)執(zhí)照。
Article 225 Where a company fails to commence operation for more than 6 months
without proper cause， or suspends operation on its own without proper cause for
more than 6 consecutive months after commencement of operation， the company
registration authority shall revoke its company business license.
公司登記事項發(fā)生變更時，未按照本法規(guī)定辦理有關(guān)變更登記的，責(zé)令限期登記，逾期不登記的，處以一萬元以上十萬元以下的罰款。
Where the company fails to carry out amendment registration in accordance
herewith when a registered item of the company has changed， it shall be ordered
to register within a prescribed time limit， and where the company has not
carried out registration after expiration of the time limit， a fine of not less
than 10，000 Yuan but not more than 100，000 Yuan shall be imposed.
第二百二十六條：外國公司違反本法規(guī)定，擅自在中國境內(nèi)設(shè)立分支機構(gòu)的，責(zé)令改正或者關(guān)閉，并可處以一萬元以上十萬元以下的罰款。
Article 226 Where， in violation hereof， a foreign company establishes a branch
within China without approval， it shall be ordered to make rectification， or
such branch shall be ordered to terminate， and a fine of not less than 10，000
Yuan but not more than 100，000 Yuan may be imposed.
第二百二十七條：依照本法履行審批職責(zé)的有關(guān)主管部門，對符合法定條件的申請，不予批準的，或者公司登記機關(guān)對符合法定條件的申請，不予登記的，當(dāng)事人可以依法申請復(fù)議或者提起行政訴訟。
Article 227 Where a relevant authority performing approval function hereunder
fails to approve an application which meets conditions prescribed by law， or the
company registration authority fails to grant registration to an application
which meets conditions prescribed by law， the affected party may apply for
administrative review or institute an administrative action in accordance with
the law.
第二百二十八條：公司違反本法規(guī)定，應(yīng)當(dāng)承擔(dān)民事賠償責(zé)任和繳納罰款、罰金的，其財產(chǎn)不足以支付時，先承擔(dān)民事賠償責(zé)任。
Article 228 Where a company violates of this Law， and is therefore liable for
civil damages as well as for an administrative fine or criminal fine， and its
assets are not sufficient to cover both， its assets shall first be used to cover
the civil liability for damages.
第十一章：附則Chapter Eleven： Supplementary Provisions
第二百二十九條：本法施行前依照法律、行政法規(guī)、地方性法規(guī)和國務(wù)院有關(guān)主管部門制定的《有限責(zé)任公司規(guī)范意見》、《股份有限公司規(guī)范意見》登記成立的公司，繼續(xù)保留，其中不完全具備本法規(guī)定的條件的，應(yīng)當(dāng)在規(guī)定的限期內(nèi)達到本法規(guī)定的條件。具體實施辦法，由國務(wù)院另行規(guī)定。
Article 229 （Amended） Companies registered and established prior to the
implementation of this Law， in accordance with law， administrative regulations，
local regulations， and the Standard Opinions Concerning Limited Liability
Companies and the Standard Opinions Concerning Joint Stock Limited Companies
formulated by the relevant authority in charge under the State Council， shall
remain in existence， provided that those companies which do not meet all the
conditions prescribed herein shall meet such conditions within the time limit
prescribed. Detailed implementing measures shall be formulated by the State
Council separately.
屬于高新技術(shù)的股份有限公司，發(fā)起人以工業(yè)產(chǎn)權(quán)和非專利技術(shù)作價出資的金額占公司注冊資本的比例，公司發(fā)行新股、申請股票上市的條件，由國務(wù)院另行規(guī)定。
In the case of a Joint Stock Limited Liability Company in the high and new
technology category， the ratio of capital contribution in the form of industrial
technology and non-patented proprietary technology by sponsors as a percentage
of registered capital， the conditions for issuance of new shares or initial
public offering shall be separately stipulated by the State Council.
第二百三十條：本法自1994年7月1日起施行。
Article 230 This Law shall become operative as of July 1，1994.
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