36 types of corporate enterprises that implement the paid-in registered capital system
Author: Xu Zhongxing
Transferred from: Jurisprudence 45 degrees
1. Company limited by shares
Basis: Paragraph 1 of Article 98 of the Company Law of the People's Republic of China (revised on December 29, 2023): The promoter shall pay the full amount of shares according to the shares subscribed by the company before the establishment of the company.
2. Futures companies
Basis: Article 60, Paragraph 1, Item 3 of the Futures and Derivatives Law of the People's Republic of China (effective as of August 1, 2022): The establishment of a futures company shall meet the following conditions and be approved by the futures regulatory authority of the State Council: (3) The registered capital shall not be less than RMB 100 million and shall be paid-in monetary capital.
3. Securities companies
Basis: Paragraph 1 of Article 121 of the Securities Law of the People's Republic of China (revised on December 28, 2019): ...... The registered capital of a securities company shall be paid-in capital.
4. Commercial banks
Basis: Paragraph 1 of Article 13 of the Commercial Bank Law of the People's Republic of China (amended on August 29, 2015): The minimum registered capital for the establishment of a national commercial bank shall be RMB 1 billion. The minimum registered capital for the establishment of an urban commercial bank is RMB 100 million, and the minimum registered capital for the establishment of a rural commercial bank is RMB 50 million. The registered capital should be paid-in capital. ❷ Item 2 of Article 6 of the Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing Items of Chinese-funded Commercial Banks (amended on September 2, 2022, Decree No. 5 of the China Banking and Insurance Regulatory Commission): The establishment of a Chinese-funded commercial bank legal entity shall meet the following conditions: (2) the registered capital shall be paid-in capital, with a minimum limit of RMB 1 billion or equivalent convertible currency, and the minimum registered capital of a city commercial bank legal entity shall be RMB 100 million. ❸ Paragraph 3 of Article 6 of the Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing of Rural Small and Medium-sized Banking Institutions (amended on September 2, 2022, Decree No. 5 of the China Banking and Insurance Regulatory Commission): The establishment of a rural commercial bank shall meet the following conditions: (3) The registered capital shall be paid-in capital, and the minimum limit shall be RMB 50 million.
5. Insurance companies
Basis: Paragraph 3 of Article 69 of the Insurance Law of the People's Republic of China (revised on April 24, 2015): The registered capital of an insurance company must be paid-in monetary capital. ❷ Paragraph 3 of Article 12 of the Regulations on the Administration of Insurance Companies (Revised on October 19, 2015, Decree No. 3 of the China Insurance Regulatory Commission [2015]): After the completion of the preparatory work, the applicant may apply to the China Insurance Regulatory Commission for opening a business if the following conditions are met: (3) The minimum registered capital is RMB 200 million, and it must be paid-in monetary capital.
6. Insurance professional agency company
Basis: ❶ The third paragraph of Article 120 of the Insurance Law of the People's Republic of China (revised on April 24, 2015): the registered capital or capital contribution of insurance agencies and insurance brokers must be paid-in monetary capital. ❷ "Measures for the Implementation of Administrative Licensing and Filing of Insurance Intermediaries" (effective from February 1, 2022, China Banking and Insurance Regulatory Commission Order No. 12) Article 6, Paragraph 3: The applicant applies for the qualification of operating insurance agency business, shall meet the following conditions: (C) the registered capital is paid-in monetary capital and in accordance with the relevant provisions of the China Banking and Insurance Regulatory Commission to implement trusteeship, the minimum registered capital of the national insurance agency is 50 million yuan, and the minimum registered capital of the regional insurance agency is 20 million yuan. ❸ "Provisions on the Supervision of Insurance Agents" (effective from January 1, 2021, China Banking and Insurance Regulatory Commission Order No. 11 of 2020) Article 10, paragraph 3: the registered capital of insurance agency companies must be paid-in monetary capital.
7. Insurance brokerage companies
Basis: ❶ The third paragraph of Article 120 of the Insurance Law of the People's Republic of China (revised on April 24, 2015): the registered capital or capital contribution of insurance agencies and insurance brokers must be paid-in monetary capital. ❷ Paragraph 3 of Article 32 of the Implementation Measures for the Administrative Licensing and Filing of Insurance Intermediaries (effective as of February 1, 2022, Decree No. 12 of the China Banking and Insurance Regulatory Commission): The applicant shall meet the following conditions when applying for insurance brokerage business: (3) The registered capital shall be paid-in monetary capital and shall be entrusted in accordance with the relevant provisions of the China Banking and Insurance Regulatory Commission, and the minimum registered capital of a national insurance brokerage institution shall be 50 million yuan, and the minimum registered capital of a regional insurance brokerage institution shall be 20 million yuan. ❸ Paragraph 3 of Article 10 of the Provisions on the Supervision of Insurance Brokers (effective from May 1, 2018, Decree [2018] No. 3 of the China Insurance Regulatory Commission): The registered capital of an insurance brokerage company must be paid-in monetary capital.
8. Fund Management Companies
Basis: ❶ Paragraph 2 of Article 13 of the Securities Investment Fund Law of the People's Republic of China (amended on April 24, 2015): The establishment of a fund management company for the management of publicly offered funds shall meet the following conditions and be approved by the securities regulatory authority of the State Council: (2) The registered capital shall not be less than RMB 100 million and must be paid-in monetary capital. ❷ Paragraph 3 of Article 6 of the Measures for the Supervision and Administration of Publicly Offered Securities Investment Fund Managers (effective as of June 20, 2022, Decree No. 198 of the China Securities Regulatory Commission): The establishment of a fund management company shall meet the following conditions: (3) The registered capital shall not be less than RMB 100 million, and the shareholders must pay in their own currency funds from legal sources, and foreign shareholders shall make capital contributions in freely convertible currencies.
9. Non-bank payment institutions
Basis: Paragraph 1 of Article 8 of the Regulations on the Supervision and Administration of Non-bank Payment Institutions (effective as of May 1, 2024, Decree No. 768 of the State Council): The minimum registered capital for the establishment of a non-bank payment institution shall be RMB 100 million, and shall be paid-in monetary capital.
10. Financial Holding Companies
Basis: ❶ Decision of the State Council on the Implementation of the Administration of Access to Financial Holding Companies (amended on December 18, 2023, Decree No. 771 of the State Council) (1) To apply for the establishment of a financial holding company, in addition to the conditions stipulated in the Company Law of the People's Republic of China, the following conditions shall also be met: 1. The paid-in registered capital shall not be less than RMB 5 billion, and not less than 50% of the total registered capital of the financial institutions directly controlled. ❷ Item 1 of Article 7, Paragraph 1 of the Trial Measures for the Supervision and Administration of Financial Holding Companies (effective from November 1, 2020 People's Bank of China Order [2020] No. 4): In addition to the conditions stipulated in the Company Law of the People's Republic of China, an application for the establishment of a financial holding company shall also meet the following conditions: (1) The paid-in registered capital shall not be less than RMB 5 billion, and shall not be less than 50% of the total registered capital of the financial institutions directly controlled.
11. Foreign banks
Basis: Paragraph 1 of Article 8 of the Regulations of the People's Republic of China on the Administration of Foreign-funded Banks (Decree No. 720 of the State Council revised on September 30, 2019): The minimum registered capital of wholly foreign-funded banks and Sino-foreign joint venture banks shall be RMB 1 billion or its equivalent in freely convertible currency. The registered capital should be paid-in capital. ❷ Item 2 of Article 9 of the Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing Items for Foreign-funded Banks (amended on September 2, 2022, Decree No. 5 of the China Banking and Insurance Regulatory Commission): The wholly foreign-funded bank and Sino-foreign joint venture bank to be established shall meet the following conditions: (2) The registered capital shall be paid-in capital, with a minimum limit of RMB 1 billion or the equivalent in freely convertible currency, and the source of funds shall be legal.
12. Foreign-funded insurance companies
Basis: Paragraph 1 of Article 7 of the Regulations of the People's Republic of China on the Administration of Foreign-funded Insurance Companies (Decree No. 720 of the State Council revised on September 30, 2019): The minimum registered capital of a joint venture insurance company or a wholly-owned insurance company shall be RMB 200 million or its equivalent in freely convertible currency, and the minimum amount of registered capital must be paid-in monetary capital. ❷ Article 6 of the Detailed Rules for the Implementation of the Regulations of the People's Republic of China on the Administration of Foreign-funded Insurance Companies (amended on March 10, 2021, Decree No. 2 of the China Banking and Insurance Regulatory Commission): The registered capital or working capital of a foreign-funded insurance company shall be paid-in currency.
13. Financing guarantee company
Basis: ❶ Article 7, Paragraph 1, Item 2 of the Regulations on the Supervision and Administration of Financing Guarantee Companies (effective as of October 1, 2017 Decree No. 683 of the State Council): The establishment of a financing guarantee company shall comply with the provisions of the Company Law of the People's Republic of China and meet the following conditions: (2) The registered capital shall not be less than RMB 20 million and be paid-in monetary capital. ❷Paragraph 2 of Article 10 of the Interim Measures for the Administration of Financing Guarantee Companies (effective as of March 8, 2010, Decree No. 3 of 2010 of the China Banking Regulatory Commission, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, and the State Administration for Industry and Commerce): The registered capital shall be paid-in monetary capital.
14. Direct Selling Enterprises
Basis: Item 2 of Article 7 of the Regulations on the Administration of Direct Selling (Decree No. 676 of the State Council revised on March 1, 2017): To apply to become a direct selling enterprise, the following conditions shall be met: (2) The paid-in registered capital shall not be less than RMB 80 million.
15. Foreign labor service cooperative enterprises
Basis: Paragraph 2 of Article 6 of the Regulations on the Administration of Foreign Labor Service Cooperation (effective as of August 1, 2012, Decree No. 620 of the State Council): To apply for the qualification of foreign labor service cooperation, the following conditions shall be met: (2) The paid-in registered capital shall not be less than 6 million yuan.
16. Financial asset management companies
Basis: Article 5 of the Regulations on Financial Asset Management Companies (effective as of November 10, 2000, Decree No. 297 of the State Council): The registered capital of a financial asset management company is RMB 10 billion, which is approved by the Ministry of Finance.
17. Consumer Finance Companies
Basis: Paragraph 3 of Article 6 of the Measures for the Administration of Consumer Financial Companies (effective as of April 18, 2024, Decree No. 4 of the State Administration of Financial Supervision and Administration): The following conditions shall be met to apply for the establishment of a consumer financial company: (3) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 1 billion or the equivalent of freely convertible currency.
18. Enterprise Group Finance Company
Basis: ❶ Item 4 of Article 6 of the Implementation Measures for Administrative Licensing Items of Non-bank Financial Institutions (effective from November 10, 2023, Decree No. 3 of the State Administration of Financial Supervision and Administration of the People's Republic of China): The following conditions shall be met for the establishment of a legal entity of an enterprise group finance company: (4) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 1 billion or equivalent in freely convertible currency. ❷Item 4 of Article 7 of the Measures for the Administration of Financial Companies of Enterprise Groups (effective as of November 13, 2022, Decree No. 6 of the China Banking and Insurance Regulatory Commission): The establishment of a financial company legal entity shall meet the following conditions: (4) The registered capital is a one-time paid-in monetary capital, with a minimum limit of RMB 1 billion or equivalent in freely convertible currency, and the CBIRC may adjust the minimum amount of registered capital of a financial company according to the development of the financial company and the needs of prudential supervision.
19. Financial leasing companies
Basis: ❶ Article 20, Paragraph 3 of the Measures for the Implementation of Administrative Licensing Items for Non-bank Financial Institutions (effective from November 10, 2023, Decree No. 3 of the State Administration of Financial Supervision and Administration [2023]): The establishment of a financial leasing company legal entity shall meet the following conditions: (3) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 100 million or the equivalent of freely convertible currency. ❷ Article 7, Paragraph 3 of the Measures for the Administration of Financial Leasing Companies (effective as of March 13, 2014, Decree No. 3 of 2014 of the China Banking Regulatory Commission): To apply for the establishment of a financial leasing company, the following conditions shall be met: (3) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 100 million or the equivalent of freely convertible currency.
20. Auto Finance Companies
Basis: ❶ Paragraph 3 of Article 36 of the Implementation Measures for Administrative Licensing Items of Non-bank Financial Institutions (effective from November 10, 2023, Decree No. 3 of the State Administration of Financial Supervision and Administration [2023]): The establishment of an auto finance company legal entity shall meet the following conditions: (3) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 1 billion or equivalent freely convertible currency. ❷ Paragraph 1 of Article 9 of the Measures for the Administration of Auto Finance Companies (effective from August 11, 2023, Decree No. 1 of 2023 of the State Administration of Financial Supervision and Administration): The minimum registered capital of an auto finance company shall be RMB 1 billion or its equivalent in freely convertible currency. The registered capital is a one-time paid-in monetary capital.
21. Money Brokerage Firms
Basis: Article 47, Paragraph 3 of the Measures for the Implementation of Administrative Licensing Items for Non-bank Financial Institutions (effective from November 10, 2023, Decree No. 3 of the State Administration of Financial Supervision and Administration of the People's Republic of China): The establishment of a currency brokerage company legal entity shall meet the following conditions: (3) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 20 million or the equivalent of freely convertible currency. Paragraph 1 of Article 11 of the Measures for the Administration of the Pilot Program of Money Brokerage Companies (effective as of September 1, 2005, Decree No. 1 of 2005 of the China Banking Regulatory Commission): The minimum amount of registered capital of a money brokerage company shall be RMB 20 million or its equivalent in freely convertible currency, and the registered capital shall be paid-in monetary capital.
22. Seafarers' Dispatch Agency
Basis: ❶ Item 2 of Article 5 of the Regulations of the People's Republic of China on the Administration of Seafarers' Assignment (Amended on September 20, 2023, Decree No. 10 of the Ministry of Transport of the People's Republic of China): Institutions engaged in seafarer assignment shall meet the following conditions: (2) The paid-in registered capital shall not be less than 6 million yuan. ❷ Notice of the Maritime Safety Administration on Printing and Distributing the Implementation Opinions on the Management of the Qualifications of Seafarer Dispatch Institutions (Trial) (June 21, 2011 Seafarers [2011] No. 344) VII. Requirements for the registered capital of applying for seafarer assignment: (2) The registered capital of the enterprise legal person shall be the paid-in monetary capital (proved by the business license of the enterprise legal person and the latest financial capital verification report issued by an accounting firm).
23. Rural Credit Cooperatives
Basis: Item 4 of Article 22 of the Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing of Rural Small and Medium-sized Banking Institutions (amended on September 2, 2022, Decree No. 5 of the China Banking and Insurance Regulatory Commission): The establishment of rural credit cooperatives shall meet the following conditions: (4) The registered capital shall be paid-in capital, and the minimum limit shall be RMB 3 million.
24. Village and township banks
Basis: Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing of Rural Small and Medium-sized Banking Institutions (amended on September 2, 2022). Item 3 of Paragraph 1 of Article 26 of Decree No. 5 of the China Banking and Insurance Regulatory Commission: The following conditions shall be met for the establishment of a village or township bank: (3) the registered capital shall be paid-in capital, and the minimum limit shall be RMB 3 million for the establishment of a county (district), RMB 1 million for the establishment of a township (town), RMB 1 million for the establishment of an investment management village or township bank, and RMB 100 million for the establishment of a village or township bank under the "multi-county and one-bank" system.
25. Loan Company
Basis: Item 2 of Article 32 of the Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing of Rural Small and Medium-sized Banking Institutions (amended on September 2, 2022, Decree No. 5 of the China Banking and Insurance Regulatory Commission): The establishment of a loan company at the county (city) level and below shall meet the following conditions: (2) The registered capital shall be paid-in capital, and the minimum limit shall be RMB 500,000.
26. Rural Mutual Fund Cooperatives
Basis: ❶ Paragraph 3 of Article 37 of the Implementation Measures of the China Banking and Insurance Regulatory Commission for Administrative Licensing of Rural Small and Medium-sized Banking Institutions (amended on September 2, 2022, Decree No. 5 of the China Banking and Insurance Regulatory Commission): The establishment of a rural mutual fund cooperative shall meet the following conditions: (3) the registered capital is paid-in capital, and the minimum limit is RMB 300,000 for the establishment of a township (town), and RMB 100,000 for the establishment of an administrative village. ❷ Paragraph 3 of Article 9 of the Notice of the China Banking Regulatory Commission on Printing and Distributing the Interim Provisions on the Administration of Rural Mutual Fund Cooperatives (effective as of January 22, 2007, Yin Jian Fa [2007] No. 7): The establishment of rural mutual fund cooperatives shall meet the following conditions: (3) have registered capital that meets the requirements of these Regulations. If it is established in a township (town), the registered capital shall not be less than 300,000 yuan, and if it is established in an administrative village, the registered capital shall not be less than 100,000 yuan, and the registered capital shall be paid-in capital.
27. Insurance asset management companies
Basis: Paragraph 1 of Article 14 of the Provisions on the Administration of Insurance Asset Management Companies (effective from September 1, 2022, Decree No. 2 of the China Banking and Insurance Regulatory Commission): The registered capital of an insurance asset management company shall be paid-in monetary capital, with a minimum limit of RMB 100 million or its equivalent in freely convertible currency.
28. Trust Companies
Basis: ❶ Paragraph 3 of Article 6 of the Implementation Measures for Administrative Licensing Items of Trust Companies of the China Banking and Insurance Regulatory Commission (effective from January 1, 2021, Decree No. 12 of the China Banking and Insurance Regulatory Commission [2020]): The establishment of a trust company legal entity shall meet the following conditions: (3) The registered capital shall be a one-time paid-in monetary capital, with a minimum limit of RMB 300 million or the equivalent of freely convertible currency. ❷ Paragraph 1 of Article 10 of the Measures for the Administration of Trust Companies (effective as of March 1, 2007, Decree No. 2 of 2007 of the China Banking Regulatory Commission): The minimum registered capital of a trust company shall be RMB 300 million or its equivalent in freely convertible currency, and the registered capital shall be paid-in monetary capital.
29. Wealth management subsidiaries of commercial banks
Basis: Paragraph 1 of Article 11 of the Measures for the Administration of Wealth Management Subsidiaries of Commercial Banks (effective as of December 2, 2018, Decree No. 7 of the China Banking and Insurance Regulatory Commission): The registered capital of a bank wealth management subsidiary shall be a one-time paid-in monetary capital, with a minimum amount of RMB 1 billion or its equivalent in freely convertible currency.
30. Financial asset investment companies
Basis: Paragraph 1 of Article 11 of the Measures for the Administration of Financial Assets Investment Companies (Trial) (effective as of June 29, 2018, Decree No. 4 of the China Banking and Insurance Regulatory Commission): The registered capital of a financial assets investment company shall be a one-time paid-in monetary capital, with a minimum limit of RMB 10 billion or equivalent freely convertible currency.
31. Securities investment consulting companies
Basis: Item 2 of Article 7 of the Administrative Measures for the Financial Advisory Business of Mergers and Acquisitions of Listed Companies (Decree No. 54 of the China Securities Regulatory Commission effective as of August 4, 2008): Securities investment consulting institutions engaged in the financial advisory business of mergers and acquisitions of listed companies shall meet the following conditions: (2) Paid-in registered capital and net assets shall not be less than RMB 5 million.
32. Pawn shop
Basis: Paragraph 2 of Article 8 of the Measures for the Administration of Pawnshops (Decree No. 8 of 2005 of the Ministry of Commerce and the Ministry of Public Security) (effective as of April 1, 2005): The minimum registered capital of a pawnshop shall be the monetary capital paid in by the shareholders, excluding the capital contributed in kind, industrial property rights, non-patented technology and land use rights.
33. National fertilizer commercial reserve storage enterprises
Basis: Notice of the National Development and Reform Commission and the Ministry of Finance on Revising and Issuing the Administrative Measures for National Fertilizer Commercial Reserves (effective from September 1, 2022 Development and Reform Economic and Trade Regulations [2022]) No. 1320) Article 12, Item 2: The national fertilizer commercial reserve and storage enterprises shall meet the following basic conditions: (2) the paid-in registered capital (gold) shall not be less than 50 million yuan, the leading enterprise in the enterprise consortium shall not be less than 100 million yuan in the previous year, and the participating enterprises shall not be less than 30 million yuan in the previous year. Enterprises in the Tibet Autonomous Region, Gansu Province, Qinghai Province and Ningxia Hui Autonomous Region shall have a paid-in registered capital (gold) of not less than RMB 10 million in the previous year if they undertake the reserve tasks of their own provinces or autonomous regions or other provinces and regions mentioned above.
34. Internet enterprises that act as agents for the sale of gold products of financial institutions
Basis: Item 1 of Article 6, Paragraph 1 of the Notice of the General Office of the People's Bank of China on Issuing the Interim Measures for the Administration of Internet Gold Business of Financial Institutions (effective from December 14, 2018, Yin Ban Fa [2018] No. 221): Internet institutions that act as agents for the sale of gold products of financial institutions shall meet the following conditions: (1) The corporate legal person of the Internet institution shall be established in accordance with the law within the territory of the People's Republic of China, shall have staff familiar with the gold business, and the registered capital shall not be less than 3,000 RMB 10,000 and must be paid-in monetary capital.
35. Microfinance companies
Basis: Guiding Opinions of the China Banking Regulatory Commission and the People's Bank of China on the Pilot Program of Microfinance Companies (May 4, 2008, Yin Jian Fa [2008] No. 23) II. Establishment of microfinance companies: The sources of registered capital of microfinance companies should be true and legal, all of which should be paid-up monetary capital, and should be paid in full by the investors or promoters at one time. The registered capital of a limited liability company shall not be less than 5 million yuan, and the registered capital of a company limited by shares shall not be less than 10 million yuan. The shares held by a single natural person, enterprise legal person, other social organizations and their affiliates shall not exceed 10% of the total registered capital of a microfinance company.
36. Labor dispatch enterprises
Basis: Notice of the State Council on Printing and Distributing the Reform Plan for the Registered Capital Registration System (February 7, 2014, Guo Fa [2014] No. 7) 2. Relax the access control of market entities and effectively optimize the business environment: (1) Implement the registered capital subscription registration system. ...... The existing laws, administrative regulations and the decision of the State Council clearly stipulate that banking financial institutions, securities companies, futures companies, fund management companies, insurance companies, insurance professional agencies and insurance brokers, direct selling enterprises, foreign labor service cooperative enterprises, financing guarantee companies, joint stock limited companies raised and established, as well as labor dispatch enterprises, pawn shops, insurance asset management companies, and microfinance companies shall implement the registered capital subscription registration system. Before the laws, administrative regulations, and decisions of the State Council are amended, they are to be temporarily implemented in accordance with the current provisions.
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