legal ground
Article 76 of the Company Law of People's Republic of China (PRC) to establish a joint stock limited company shall meet the following conditions: (1) The promoters shall meet the quorum; (2) It has the total amount of capital subscribed or paid-in by all promoters in accordance with the articles of association; (3) The issuance and offering of shares comply with the law; (4) The promoters shall formulate articles of association, which shall be adopted by the founding meeting; (5) Having a company name and establishing an organization meeting the requirements of a joint stock limited company; (6) Having a company domicile.
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