Partnership (China)

From 1368 to 1911, partnerships with distributive shares were the principal form of a business entity that investors ran coal mines.

[3] After the end of the 1950s centralization of the economy caused the partnership form to vanish for nearly 30 years.

[4] In the 1980s partnerships returned with different names to avoid the sensitive label of private ownership.

[11] This written agreement must be submitted to the business registration government body along with the identity of the partners.

[20] The default distribution scheme of profits or losses follows the proportion to capital contributions made by the partners.

[22] If the proportions of capital contributions cannot be discerned, then the profits or losses will be distributed equally by the partners.