I. General Overview of the Sole Proprietorship Enterprise Law
(a) Concept and Characteristics of a Sole Proprietorship Enterprise
A sole proprietorship enterprise refers to an operating entity established within the territory of China in accordance with the "Sole Proprietorship Enterprise Law of the People's Republic of China" (hereinafter referred to as the "Sole Proprietorship Enterprise Law"), invested by a single natural person, where the property is owned by the investor personally, and the investor bears unlimited liability for the enterprise's debts with their personal assets. A sole proprietorship enterprise has the following characteristics: