Establishment by public share offer means establishment of the company through subscription by sponsors for part of the shares to be issued by the company， and public placement of the remaining shares.

　　第七十五条：设立股份有限公司，应当有五人以上为发起人，其中须有过半数的发起人在中国境内有住所。

　　Article 75 In order to establish a joint stock limited company， there shall be not fewer than 5 sponsors， half of whom shall be domiciled in China.

　　国有企业改建为股份有限公司的，发起人可以少于五人，但应当采取募集设立方式。

　　In the case of reorganization of a state-owned enterprise into a joint stock limited company， there may be fewer than 5 sponsors， provided that such joint stock limited company shall be established by public share offer.

　　第七十六条：股份有限公司发起人，必须按照本法规定认购其应认购的股份，并承担公司筹办事务。

　　Article 76 Sponsors of a joint stock limited company must subscribe for the shares as required and conduct preparations for the establishment of the company in accordance herewith.

　　第七十七条：股份有限公司的设立，必须经过国务院授权的部门或者省级人民政府批准。

　　Article 77 Establishment of a joint stock limited company is subject to approval by the department authorized by the State Council， or the People's Government at the provincial level.

　　第七十八条：股份有限公司的注册资本为在公司登记机关登记的实收股本总额。

　　Article 78 The registered capital of a joint stock limited company shall be the total amount of share capital which is paid in and registered with the company registration authority.

　　股份有限公司注册资本的最低限额为人民币一千万元。股份有限公司注册资本最低限额需高于上述所定限额的，由法律、行政法规另行规定。

　　The minimum registered capital of a joint stock limited company may not be less than Renminbi 10，000，000 Yuan. Where the minimum level of registered capital required for a joint stock limited company exceeds the minimum level prescribed above， such minimum level shall be separately prescribed by the relevant national statutes and administrative regulations.

　　第七十九条：股份有限公司章程应当载明下列事项：

　　Article 79 The articles of association of a joint stock limited company shall set forth the following：

　　（一）公司名称和住所；

　　（i） its name and domicile；

　　（二）公司经营范围；

　　（ii） its business scope；

　　（三）公司设立方式；

　　（iii） the method for its establishment；

　　（四）公司股份总数、每股金额和注册资本；

　　（iv） the total number of shares of the company， the value of each share， and the registered capital of the company；

　　（五）发起人的姓名或者名称、认购的股份数；

　　（v） the names of the sponsors and the number of shares they have subscribed for；

　　（六）股东的权利和义务；

　　（vi） the rights and obligations of shareholders；

　　（七）董事会的组成、职权、任期和议事规则；

　　（vii） the composition of the board of directors， its authorities， term， and rules of conducting business；

　　（八）公司法定代表人；

　　（viii） its legal representative；

　　（九）监事会的组成、职权、任期和议事规则；

　　（ix） the composition of the board of supervisors， its authorities， term， and rules of conducting business；

　　（十）公司利润分配办法；

　　（x） the method for company profit distribution；

　　（十一）公司的解散事由与清算办法；

　　（xi） the causes for its dissolution and the method for its liquidation；

　　（十二）公司的通知和公告办法；

　　（xii） the method for giving notice and making public announcement；

　　（十三）股东大会认为需要规定的其他事项。

　　（xiii） other matters which the shareholders' general committee deems necessary to provide for.

　　第八十条：发起人可以用货币出资，也可以用实物、工业产权、非专利技术、土地使用权作价出资。对作为出资的实物、工业产权、非专利技术或者土地使用权，必须进行评估作价，核实财产，并折合为股份。不得高估或者低估作价。土地使用权的评估作价，依照法律、行政法规的规定办理。

　　Article 80 A sponsor may contribute his share capital in the form of cash， or in the form of tangible goods， industrial property， non-patented technology or land use rights at certain value. If share capital is contributed in the form of tangible goods， industrial property， non-patented technology or land use rights， they must be appraised and the property rights therein must be verified， whereupon the value thereof shall be converted into shares. The contributed items may not be overvalued or undervalued. The appraisal of land use rights shall be carried out in accordance with the provisions of the relevant national statutes and administrative regulations.

　　发起人以工业产权、非专利技术作价出资的金额不得超过股份有限公司注册资本的百分之二十。

　　The value of the industrial property and non-patented technology contributed as share capital by the sponsors shall not exceed 20 percent of the total registered capital.

　　第八十一条：国有企业改建为股份有限公司时，严禁将国有资产低价折股、低价出售或者无偿分给个人。