As the Chinese new company law will be implemented on July 1 this year, some companies are considering reducing their capital.
From the consulting calls we received about capital reduction, we feel that some companies still have some misunderstandings about whether they need to release capital reduction announcement on a certain newspaper. At present, capital reduction does not need to be announced in newspapers, only through the national enterprise credit information publicity system is enough. For enterprises in Shanghai, log in to the following government website to release the announcement.
https://fw.scjgj.sh.gov.cn/noticerpt/user/popup_login
After 45 days from the date of announcement of capital reduction, if there is no objection from creditor(s) of the company, the change registration of capital reduction can be applied for. Please note that 45 days is calculated from the next day after submitting the announcement online.
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