Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Massive Wave of Corporate Deregistrations Hits China: Hundreds Dissolve Within Mere 3 Days" video.

  1. Private Companies in China Facing Bankruptcy and Closure Due to New Company Law Amendments and Economic Pressures: The Impact on Employees and the Economy 💼 Private companies in China facing bankruptcy and closure due to new company law amendments and economic pressures. 00:00 Private companies in China facing bankruptcy and closure 00:00 New company law requires actual payment of registered capital within 5 years 00:57 Over 40,000 companies in Shenzhen reducing their capital 01:22 China's economic future looks concerning with a continued downturn 01:43 Revised company law to take effect from July 1st, 2024 01:59 Modifications to the subscribed registration system for limited liability companies 02:07 Issues with original company law including indiscriminate subscription and overly high capital amounts 03:22 💼 Private companies in China face challenges due to new legislation and the prevalence of shell companies. 04:03 Many Chinese companies have unclear paid-in capital and may apply for reductions after new policy details are released. 04:03 China harbors over 4.5 million shell companies, with a 25% growth rate for those set up for money laundering purposes. 04:32 Shell companies are used for illegal activities such as money laundering and financial fraud. 05:21 New legislation aims to curb financial fraud through shell companies, impacting domestic and cross-border e-commerce. 06:19 Many e-commerce operators are concerned about the impact of the new laws on their business operations. 07:03 The new regulations also affect large cross-border e-commerce companies established overseas for growth. 07:33 📉 Private companies in China facing financial struggles due to loopholes in company law. 08:10 2013 revision of China's company law changed registration capital system, creating loopholes for businessmen. 08:10 Investigation revealed companies with high registered capital had no actual funds or offices. 09:01 New rule requiring actual capital contribution within 5 years triggered wave of capital reduction among companies. 10:16 Financial firms offering capital reduction services finding business opportunities. 10:29 Thousands of companies in Shenzhen have reduced their capital to avoid fines. 10:50 Drastic reduction in capital raises suspicions about initial falsification to appear financially robust. 11:37 Many small companies in China register with high capitals without actual funds. 11:52 💰 Struggling private companies face financial challenges, impacting employees and economy. 11:59 Struggling private companies with high registered capital face financial difficulties. 11:59 New company law in China requires timely payment of registered capital, impacting small businesses. 12:35 Impact of the new company law results in economic difficulties and potential closures. 13:30 Chinese economy faces deflation risk, leading to wage decreases and potential spending cutbacks. 14:20 Impact of economic challenges results in deserted streets and homelessness in industrial areas. 15:00 Workers forced onto the streets due to economic hardship, waiting for job opportunities. 15:25 Resident expresses struggle with unemployment and bleak future prospects. 15:32 💼 Private businesses in China are facing bankruptcy and struggle due to economic downturn and government policies. 15:54 Many businesses are struggling to survive after 20 years of operation. 15:54 Youth unemployment rates in China are soaring, with no relief in sight. 16:18 The revised company law provides a 5-year grace period for companies to meet their capital requirements. 16:48 The economic downturn is posing challenges for private enterprises. 16:54 The mandatory contribution requirement is adding barriers to entrepreneurship. 17:25 The government policies seem to be increasing the costs of entrepreneurship. 17:48 The situation may potentially drive young people out of the workforce. 18:03
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