Legal analysis: Yes, the equity transfer agreement is legal only if the buyer and the seller personally sign it, but if there is a written power of attorney, it is also possible to go to the industrial and commercial bureau to go through the formalities of change.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 162 A civil juristic act carried out by an agent in the name of the principal within the scope of his agency authority is effective for the principal.

Article 163 Agency includes entrusted agency and legal agency.

An entrusted agent shall exercise the power of agency as entrusted by the principal. A legal agent shall exercise his power of agency in accordance with the provisions of the law.