Who should keep the company chop?

The legal representative or a controlled finance role with a usage log — never the business team. In JVs, custody allocation is a governance decision, not an office detail.

Company Chops: Governance, Custody and What to Do If One Is Lost

QUICK ANSWER

Chops bind the company legally — more than any signature. Governance: named custodian, usage log, financial chop separate from company chop, approvals for external use. Lost/stolen chop: police report, newspaper/online declaration, re-carve at PSB, notify banks — 1-3 weeks. The real risk is not loss; it is misuse.

The five chops: company (round), financial, invoice, contract, legal-representative. All PSB-registered at setup.
Governance that survives audits: custody by role not by person, usage log with counter-signature, dual-control for financial+invoice chops, photo records of every stamped page.
If lost or stolen: police report → loss declaration → PSB re-carve → bank notification → internal incident review. Speed matters: a stolen financial chop is a fraud event, not an admin task.
In JV disputes: chop control IS control — the shareholder fights are fought over the custodian seat. Design custody into the JV contracts.

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General information only — not legal, tax, or immigration advice. Rules change; verify with official sources (SAMR, STA, SAFE, MOFCOM, NIA) and licensed advisors before acting.