On December 24, 2021, China released proposed amendment to its Company Law (Draft for Comments), which has introduced different classes of shares for joint stock companies to accommodate such diverse shareholders’ rights as voting, pre-emptive, right of first refusal / offer, co-sale, other transfer restrictions, and liquidation preference. It also proposed an authorized capital structure and shares with different or no par value, providing a lot more flexibilities for corporate structuring than the existing law. These changes are expected to provide shareholders with more stable legal protections and will help make PRC companies a more popular choice in global capital markets. This quick regulatory alert is a nutshell of some key points under the draft amendment mainly from PE/VC investors’ perspective for your general review and reference.