2023년 중국 회사법의 전면 개정과 기업경영에 미치는 영향

Abstract

On December 29, 2023, China promulgated the comprehensively revised sixth amendment to the Company Law. This revision is the second full-scale amendment after 2005, increasing the number of articles from 218 to 266, deleting 16 articles, and adding or amending 228 articles, with 112 articles being substantially revised. This makes it the most significant amendment in the 30-year history of China’s Company Law, surpassing the 2005 revision. Structurally, there are major changes such as the introduction of a new chapter on company registration (Chapter 2) and the addition of special provisions on the organizational structure of state-invested companies (Chapter 7). In terms of content, there are significant changes across the entire Company Law, including the capital system and corporate governance. The revised law aligns with global standards while emphasizing Chinese characteristics, highlighting institutional innovation while maintaining path dependence, thus reflecting the characteristics of a modern Chinese corporate system. Therefore, the 2023 revision of China’s Company Law will have a profound impact on corporate management in China. Meanwhile, the revision introduced many systems similar to those in Korea, as well as some that have not yet been adopted in Korea, indicating that China’s Company Law has developed further, expanding the view for comparative analysis between Chinese and Korean Company Law. As the revised Company Law comes into effect on July 1, 2024, this document aims to assist the Korean business community, legal professionals, and academia in understanding the background, legislative process, and key points of the 2023 revision of China’s Company Law. It reviews the major amendments and analyzes their impact on corporate management in China, while also suggesting response strategies for companies.