The revised amendment draft of China's Law on Corporation submitted to Chinese top legislature has cut the minimum limitation of registered assets of stock companies by half, aiming to encourage investment.

According to the draft tabled for the 17th session of the Standing Committee of the 10th National People's Congress on Tuesday, the minimum limitation of registered assets of stock companies was cut to 5 million yuan (610,000 US dollars) from the current 10 million yuan (1.22 million US dollars).

The draft has also reduced the minimum of registered assets of limited corporations from 100,000 yuan (12,200 US dollars) to 30,000 yuan (3,659 US dollars).

Source: Xinhua