Secured Transactions Under China and US Law

Man JIN

Abstract


The secured-credit law is key of modern commercial transactions. Under China’s Property Law, some aspects in terms of secured transactions have been improved with comparison to Security Law (1995), but it is considered to be unsatisfactory. The purpose of this article is to examine the very significant problems of China law on secured transactions, including the narrow range of the movable collateral, the lack of centralized registration system and the cumbersome enforcement process. For a reference, this paper takes Article 9 of United States Uniform Commercial Code as a model to compare the differences in Secured Transactions between China and US: Article 9 made it possible for secured transactions to be conducted with maximum flexibility and efficiency. Based on the reference point, this research also tries to find out to what extent it could be imported to China.


Keywords


Secured transactions; Article 9; Registration; Enforcement

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References


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DOI: http://dx.doi.org/10.3968/%25x

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