Legal subjectivity:
First, the so-called restructuring is to break the old enterprise system with ownership as the core under the economic system and establish a new modern enterprise system with property rights as the core in line with the laws of the market economy. This definition accurately pointed out the focus of the reform of state-owned enterprises at that time-transforming wholly state-owned enterprises into companies with diversified investment subjects. Reorganization is an extension of state-owned enterprise reform and a process of perfecting and deepening modern enterprise system. Second, the words "restructuring" and "reorganization" have "China characteristics" and their meanings are basically the same. It refers to a way for state-owned enterprises, institutions and other units to change the structure of property rights. Generally speaking, the nature of "state-owned" or the proportion of "state-owned components" has changed. 3. However, there is a difference between restructuring and reorganization: "restructuring" is relatively holistic and refers to the overall transformation of state-owned nature. For example, state-owned enterprises become private enterprises through transfer, and state-owned institutions with full funding become self-financing enterprises. The concept of "restructuring" is relatively large. As long as the composition or proportion of state-owned property rights changes, it can be called "reorganization", such as the introduction of external investment by state-owned enterprises and the implementation of diversified equity transformation. "Reorganization" is just a special case of reorganization. Fourth, when there is no need for rigorous expression, the two are basically common.
Legal objectivity:
Article 9 of the Company Law of People's Republic of China (PRC) is amended as "A company limited by shares shall meet the conditions of a company limited by shares as stipulated in this Law". When a joint stock limited company is changed into a limited liability company, it shall meet the conditions of a limited liability company as stipulated in this Law. Where a limited liability company is changed into a joint stock limited company, or a joint stock limited company is changed into a limited liability company, the creditor's rights and debts before the company change shall be inherited by the changed company.