What are the types of enterprises

Four basic types of enterprises: state-owned enterprises; private enterprises; joint-stock enterprises; foreign-invested enterprises. State-owned enterprises refer to wholly state-owned enterprises, wholly state-owned companies, and state-owned capital holding companies for which the State Council and local people's governments respectively perform the duties of funders on behalf of the state, including enterprises supervised by the central and local state-owned asset supervision and management agencies and other departments at the enterprise level and enterprises formed by their level-by-level investments.

Legal Basis

Article 50 of the Securities Law states that a joint stock limited company applying for stock listing shall meet the following conditions: (1) the stock has been approved by the securities regulatory authorities under the State Council to be publicly offered; (2) the total amount of the company's share capital shall not be less than RMB 30 million; (3) the shares publicly offered amount to more than 25 percent of the total number of the company's shares; where the total amount of the company's share capital exceeds RMB 400 million, the publicly offered shares shall be more than 25 percent; and where the company's share capital exceeding RMB 400 million, the percentage of shares publicly issued shall be ten percent or more; (iv) the company has not committed any major violations of law in the last three years, and there are no false entries in the financial accounting reports. The stock exchange may prescribe listing conditions higher than those stipulated in the preceding paragraph and report them to the securities regulatory authority of the State Council for approval.