China’s Draft Rules on Registered Capital Disclosure: What Foreign-Invested Companies Must Publish
- The State Administration for Market Regulation released a draft provision on company registered capital information disclosure for public comment on 15 October 2026, with comments due by 15 November 2026; it is a consultation draft and has not been issued or brought into force.
国家市场监督管理总局于 2026 年 10 月 15 日就公司注册资本信息公示规定公开征求意见，反馈截止 2026 年 11 月 15 日；该文件属征求意见稿，尚未发布施行。
- The draft applies to limited liability companies and joint stock companies established in China under the Company Law, and expressly excludes branches.
征求意见稿适用于依《公司法》在中国境内设立的有限责任公司和股份有限公司，并明确不包括分支机构。
- “Registered capital information” is defined as shareholders’ subscribed and paid-in contributions for a limited liability company, and promoters’ subscribed and paid-in shares for a joint stock company — subscribed and paid-in amounts are both disclosable.
“注册资本信息”被界定为有限责任公司股东认缴和实缴的出资信息，以及股份有限公司发起人认购和实缴的股份信息，认缴与实缴两部分均在公示范围内。
- Disclosure runs through the National Enterprise Credit Information Publicity System, and the duty holder is the company itself, which must ensure the information is true, accurate, complete and timely and bears liability accordingly.
公示渠道为国家企业信用信息公示系统，义务主体是公司本身，公司须保证信息真实、准确、完整、及时并依法承担责任。
- The State Administration for Market Regulation guides disclosure nationwide, while market regulation departments at county level and above manage companies they registered or have jurisdiction over.
国家市场监督管理总局指导全国范围内的公示工作，县级以上市场监督管理部门负责其登记或管辖公司的公示管理。
- The explanatory note to the draft, as reported by media, would require limited liability companies registered before 30 June 2024 whose remaining subscription period exceeds five years from 1 July 2027 to shorten it by 30 June 2027, and joint stock companies registered before that date to have promoters pay in full by 30 June 2027.
据媒体报道，征求意见稿说明中提出：2024 年 6 月 30 日前登记设立的有限责任公司，剩余认缴出资期限自 2027 年 7 月 1 日起超过 5 年的，应在 2027 年 6 月 30 日前调整至 5 年内；同期登记设立的股份有限公司，发起人应在 2027 年 6 月 30 日前全额缴纳股款。
- Until the draft is finalised, foreign-invested companies continue to comply with the Company Law and the existing enterprise information publicity rules, and may submit comments through the regulator’s consultation channel before 15 November 2026.
在征求意见稿定稿前，外资企业仍应按现行《公司法》与既有企业信息公示规则执行，并可在 2026 年 11 月 15 日前通过市场监管总局的征集调查渠道反馈意见。
China’s Draft Rules on Registered Capital Disclosure: What Foreign-Invested Companies Must Publish | 注册资本信息公示规定征求意见稿：外资企业需要公示什么
Overview
The State Administration for Market Regulation (SAMR) published a draft provision on company registered capital information disclosure for public comment on 15 October 2026. The stated purpose is to further standardise how companies disclose registered capital information, safeguard the security of market transactions and foster an honest and trustworthy market environment. Comments close on 15 November 2026.
The text is a consultation draft. It has not been issued and has no effective date. Nothing in it changes what a foreign-invested company must file today; the operative rules remain the Company Law and the existing enterprise information publicity framework. What the draft does is set out, in one place, who must publish what, through which system, and on what standard of accuracy.
The drafting basis is the Company Law, the Interim Regulations on Enterprise Information Publicity, and the State Council provisions implementing the Company Law’s registered capital registration management system. That lineage matters: the draft is not a new regime so much as a consolidation aimed at the registered capital field.
Scope and definitions
The draft covers limited liability companies and joint stock companies established within China under the Company Law. Branches are expressly excluded. For a foreign group, that exclusion is worth noting in the other direction: a foreign company’s branch in China is not a company under the Company Law and sits outside this disclosure duty, while every separate legal person in the group — including a wholly foreign-owned subsidiary and each subsidiary beneath it — falls inside.
Registered capital information is defined by reference to two pairs of numbers. For a limited liability company it is the shareholders’ subscribed capital contributions and their paid-in capital contributions. For a joint stock company it is the shares subscribed by promoters and the shares actually paid for. The draft therefore treats the subscribed amount and the paid-in amount as two distinct items to be published, not as a single figure that can be reported at the subscribed level alone.
Who publishes, where, and to what standard
Disclosure runs through the National Enterprise Credit Information Publicity System. The duty holder is the company itself, not its shareholder, its registered agent or its parent. The company must ensure that what it publishes is true, accurate, complete and timely, and bears liability accordingly.
Supervision is split by level. SAMR guides disclosure work nationwide. Market regulation departments at county level and above are responsible for the disclosure management of companies they registered or over which they have jurisdiction. For a foreign-invested enterprise, that ordinarily means the registration authority that issued its business licence, and for a group with entities in several districts, several such authorities at once.
The transition timetable for existing companies
The explanatory note accompanying the 15 October publication addresses companies already on the register, according to media reports. Two dates sit behind a single deadline of 30 June 2027.
For a limited liability company registered before 30 June 2024 whose remaining subscribed contribution period, counted from 1 July 2027, exceeds five years, the remaining period is to be adjusted to within five years by 30 June 2027. For a joint stock company registered before 30 June 2024, the promoters are to pay their subscribed shares in full by 30 June 2027.
These are proposals set out in the draft’s explanatory material, reported by the media, and not rules in force. Their practical significance is that both deadlines fall on the same day and both are calculated from a registration date that many foreign-invested entities no longer track, particularly where the China entity was established by an earlier holding structure and has since been transferred.
Implications for foreign companies
Three points account for most of the exposure.
First, subscribed is not paid-in. Groups that record a large subscribed capital in the articles to signal commitment, while funding the company through shareholder loans or intercompany balances, will publish both figures side by side. The gap becomes visible to counterparties, banks and tender reviewers, and a wide gap is a question that has to be answered in commercial terms rather than in filing terms.
Second, the double deadline of 30 June 2027 sits inside multi-layer structures. A foreign-invested limited liability company with a long remaining subscription period — common where the entity was set up under an older regime with a 20- or 30-year horizon — needs a capital plan that reaches the deadline before it reaches the group’s treasury cycle. Where the China entity is a joint stock company, the promoter payment obligation is a cash call, not a paper amendment.
Third, accuracy is a company-level duty. Because the Interim Regulations on Enterprise Information Publicity are among the drafting bases, the existing publicity and inspection framework continues to apply while the draft is pending, and the draft reinforces the point that responsibility for what appears on the system rests with the company.
What to do before 15 November 2026
Treat the draft as a comment opportunity rather than a compliance deadline. The regulator’s consultation channel accepts submissions until 15 November 2026.
In the meantime, the useful internal work is a reconciliation: list every China legal person in the group, pull its registered capital, subscribed amount, paid-in amount and the remaining contribution period from the register, and mark which entities were registered before 30 June 2024. That single table answers most of the questions the draft raises, and it is the same table a bank or a counterparty will ask for if the disclosure is published as proposed.
Related reading
- The Company Law registered capital registration management system and the five-year contribution period, which form the basis of the transition timetable described above.
- Enterprise information publicity and annual reporting obligations, which continue to apply independently of this draft.
- Foreign-invested enterprise establishment and change filing, where the registered capital figure first enters the administrative record.
Sources
- 国家市场监督管理总局·关于公开征求《公司注册资本信息公示规定（征求意见稿）》意见的公告（2026-10-15），含征求意见稿全文与起草说明：https://www.samr.gov.cn/hd/zjdc/art/2026/art_f416cea5ade9492dbbcc893261f554ce.html
- 内蒙古自治区市场监督管理局·《公司注册资本信息公示规定（征求意见稿）》公开征求意见（2026-10-16），转载征求意见稿全文与反馈渠道：https://amr.nmg.gov.cn/zt/fzzfjs/fzdt/fzdt/202610/t20261016_2965570.html
- 国家市场监督管理总局·国家企业信用信息公示系统（公示义务的法定平台）：https://www.samr.gov.cn/
- 中国政府网·《中华人民共和国公司法》相关条文（第四十条公示义务、第二百五十一条法律责任）：https://www.gov.cn/
注册资本信息公示规定征求意见稿：外资企业需要公示什么
概述
国家市场监督管理总局于 2026 年 10 月 15 日就公司注册资本信息公示规定公开征求意见。公告说明的立法意图是进一步规范公司注册资本信息公示行为，维护市场交易安全，营造诚实守信市场环境。意见反馈截止 2026 年 11 月 15 日。
这份文本是征求意见稿，尚未发布，也没有施行日期。它对一家外资企业今天要报什么、怎么报，不产生任何改变；现行有效的规则仍是《公司法》和既有的企业信息公示制度。征求意见稿做的是另一件事：把”谁公示、公示什么、通过哪个系统、按什么标准”集中写在一处。
起草依据是《中华人民共和国公司法》《企业信息公示暂行条例》和《国务院关于实施〈中华人民共和国公司法〉注册资本登记管理制度的规定》。这三部依据的并列本身说明了文件的定位——它不是另建一套制度，而是把注册资本领域已有的要求归拢成一份可执行的规则。
适用范围与定义
征求意见稿适用于依《公司法》在中国境内设立的有限责任公司和股份有限公司，并明确不包括分支机构。
对跨国集团而言，这条排除值得从反面读一遍：外国公司在中国的分支机构不是依《公司法》设立的公司，不在这项公示义务之内；而集团内每一个独立法人——包括外商独资子公司，以及子公司之下的每一层子公司——都在范围内。
“注册资本信息”按两组数字界定。有限责任公司的注册资本信息，是股东认缴和实缴的出资信息；股份有限公司的注册资本信息，是发起人认购和实缴的股份信息。也就是说，认缴数与实缴数被当作两个并列的公示项，而不是一个可以只按认缴口径填报的单一数字。
谁公示、在哪里公示、按什么标准
公示渠道是国家企业信用信息公示系统。义务主体是公司本身，不是股东，不是登记代理机构，也不是境外母公司。公司须保证所公示信息真实、准确、完整、及时，并依法承担责任。
监督管理按层级划分。国家市场监督管理总局指导全国的公司注册资本信息公示工作；县级以上市场监督管理部门负责其登记或者管辖公司的公示管理。对外资企业来说，这通常就是核发营业执照的那一级登记机关；如果集团在同一城市的多个区县设有主体，则会同时对应多个登记机关。
存量公司的衔接时间表
据媒体报道，10 月 15 日公告所附的说明对已登记在册的公司作出了衔接安排。两个日期共同指向 2027 年 6 月 30 日这一个截止点。
其一，2024 年 6 月 30 日前登记设立的有限责任公司，剩余认缴出资期限自 2027 年 7 月 1 日起超过 5 年的，应当在 2027 年 6 月 30 日前将剩余认缴出资期限调整至 5 年内。其二，2024 年 6 月 30 日前登记设立的股份有限公司，发起人应当在 2027 年 6 月 30 日前按其认购股份全额缴纳股款。
需要说明的是，上述内容属于征求意见稿说明中提出的安排，由媒体转述报道，不是已经生效的规则。它的现实意义在于两点：两个时限落在同一天；而计算起点是一个登记日期，很多外资企业早已不再跟踪——尤其当中国主体最初由上一层控股架构设立、此后又经历过股权转让时，原始登记日期往往只留在档案里。
对外资企业的实务意义
风险集中在三处。
第一，认缴不等于实缴。为了表明投入承诺而在章程中写入较大认缴资本、实际通过股东借款或关联往来款维持运营的集团，将把两个数字并排公示。差额对交易对手、银行和招标评审方都是可见的，而这个差额只能用商业安排解释，不能用填报口径解释。
第二，2027 年 6 月 30 日的双重时限落在多层架构内部。剩余认缴期限很长（在老制度下按 20 年、30 年设定期限的主体很常见）的外商投资有限责任公司，需要一份能在集团资金安排周期之前抵达截止日的出资计划。如果中国主体是股份有限公司，发起人的缴纳义务是一笔现金出资，而不是一次纸面变更。
第三，真实准确是公司层面的义务。由于《企业信息公示暂行条例》本身即为起草依据之一，在征求意见稿定稿之前，现行的公示与检查框架继续适用；征求意见稿则进一步明确了系统上所载信息的责任归属在公司。
2026 年 11 月 15 日之前可以做什么
把这份文本当作一次意见反馈机会，而不是一个合规截止日。市场监管总局的征集调查渠道接受意见至 2026 年 11 月 15 日。
在此之前，真正有用的内部工作是一次对账：列出集团内每一个中国法人，从登记信息中取回注册资本、认缴额、实缴额和剩余出资期限，并标注哪些主体是在 2024 年 6 月 30 日之前登记设立的。这一张表能回答征求意见稿提出的大部分问题，也是公示按草案落地后，银行或交易对手会来索要的同一张表。
延伸阅读
- 《公司法》注册资本登记管理制度与五年出资期限，即上述衔接时间表的制度基础。
- 企业信息公示与年度报告义务，独立于本征求意见稿继续适用。
- 外商投资企业的设立与变更备案，注册资本数字最早进入行政记录的环节。
来源
- 国家市场监督管理总局·公司注册资本信息公示规定征求意见公告（2026-10-15）：https://www.samr.gov.cn:8007/hd/zjdc/art/2026/art_f416cea5ade9492dbbcc893261f554ce.html
- 法规库·征求意见稿全文条文转载（第三方法规库转载，非官方来源）：https://law.esnai.cn/law_show.aspx?LawID=235754
- 界面新闻·直通部委报道（2026-10-15，含存量公司出资期限调整表述，属媒体报道）：https://www.toutiao.com/article/7696832582566150656
- 国家市场监督管理总局官网：https://www.samr.gov.cn/