close/wind up your China business? liquidate it properly

Amid global financial crisis, China is not a safe harbor. Many foreign invested companies in China are hit seriously and some of them are definitely considering winding up their business or are compelled to do so.

Here are some basic ideas about closing a Chinese company.

I.  Dissolution, Liquidation and Deregistration

In the course of winding up your China…

liquidate your company properly, no kidding

I am helping a long-term client, a Chinese businessman from Wenzhou, Zhejiang Province with his trouble that befell him totally out of blue recently.

Client set up an entertainment company (the “Company“) back in 1996 with another two individuals in Wenzhou. In 1998, the Company guaranteed as surety the repayment of a loan taken out from a …

Enterprise Bankruptcy Law of the People’s Republic of China

Enterprise Bankruptcy Law of the People’s Republic of China

  (Adopted at the 23rd Meeting of the Standing Committee of the Tenth National People’s Congress on August 27, 2006)

  

Chapter I  General Provisions

  Article 1 This Law is enacted with a view to regulating the procedure for enterprise bankruptcy, fairly settling…