Capital requirements scrapped nationwide
By Hu Min |
March 1, 2014, Saturday
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Print Edition
Print Edition
China has scrapped registered capital requirements for starting new companies after the success of a trial in Shanghai’s free trade zone.
From today, people will no longer have to pay a minimum 30,000 yuan (US$4,882) capital in advance to start a company.
Shareholders of start-ups must subscribe for the amount of registered capital they intend to pay, but are allowed two years to fulfill the commitment.
Registered capital is generally related to a company’s credibility, and such information will be made public, the Shanghai Industrial and Commercial Administrative Bureau said.
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