Conditions for the establishment of a joint stock limited company:
 1. The promoters meet the legal qualification and reach the quorum.
 2. There is a total amount of share capital subscribed by all sponsors or a total amount of paid in share capital raised in accordance with the provisions of the Articles of Association.
 3. The issuance and preparation of shares comply with the law.
 4. The promoters shall formulate the Articles of Association, which shall be adopted by the founding meeting.
 5. There is a company name, and an organization meeting the company's requirements shall be established.
 6. The company has its domicile.
 Procedures for establishing a company limited by shares:
 1. Apply for name pre-approval. For the establishment of a joint stock limited company, the representative designated by all the promoters or the agent jointly entrusted shall apply to the company registration authority for name pre-approval.
 2. Apply for establishment registration. To establish a joint stock limited company, the board of directors shall apply to the company registration authority for registration of establishment.
 3. Certification. For a company established according to law, the company registration authority shall issue a Business License for Enterprise Legal Person. The date of issuance of the business license of the Company shall be the date of establishment of the Company. The company shall, on the strength of the Business License for Enterprise Legal Person issued by the company registration authority, carve a seal, open a bank account and apply for tax registration.
 [Legal basis] Article 77 of the Company Law states that a joint stock limited company may be established by means of promotion or public offering.
 The term "establishment by sponsorship" refers to the establishment of a company by subscription of all the shares that should be issued by the company.
 Establishment by public offering refers to the establishment of a company by subscription of part of the shares that should be issued by the company by the promoters, and public offering of the remaining shares to the public or to specific objects.