2023 new China Company Law on LLC organizational structure

Article 83 of 2023 New China Company Law stipulates that if a LLC is small or the number of shareholders is small, the LLC may not have supervisor with the consent of all shareholders.

And, article 69 of the new Company Law stipulates that a LLC may set up an Audit Committee inside the Board of Directors in accordance with the provisions of the Articles of Association to exercise the powers of the Board of Supervisors.

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