Speaker(s)

• Mr Alan Xu, Co-Managing Partner, Zhong Lun Hong Kong
• Ms Jiaen Zhu, Partner, Zhong Lun Shenzhen

Description

We're thrilled to share that on 29 December 2023, the Standing Committee of the National People's Congress of the PRC approved amendments to the PRC Company Law, resulting in the "Revised PRC Company Law". 

This revision brings about significant changes in areas such as the capital contribution mechanism, corporate governance structure, actual controllers, and the responsibilities of directors, supervisors, and senior management. 

Set to take effect on 1 July 2024, the Revised PRC Company Law will have a substantial impact on both existing companies (including Wholly Foreign Owned Enterprises and Joint Venture Enterprises) established by Hong Kong or overseas investors, as well as on new companies to be incorporated in China. 

We highly recommend that governance professionals in Hong Kong as well as Hong Kong and overseas investors acquaint themselves with the Revised PRC Company Law and carefully evaluate the potential impact and risk exposure it may bring.

(Recorded in March 2024)

Level: Intermediate

Speakers' bio:
Mr Alan Xu
Ms Jiaen Zhu