What are joint stock companies divided into 2 types: non-public joint stock companies and public joint stock companies for?

–         Because non-public joint stock companies apply specialized laws (if any) and then the Enterprise Law, the Law on Securities does not apply.

For example, a non-public credit institution shall apply the Law on Credit Institutions or a non-public insurance company, the Law on Insurance Business shall apply the Law on Insurance Business so that we can advise on governance and any issues that specialized laws do not provide, the Law on Enterprises shall apply.

–         For public companies, the Law on Securities is applied, then specialized laws (with exceptions) and finally the Enterprise Law.

–         That is why joint stock companies are divided into 2 types, because public companies have a great impact on stock market trends and the macro economy.