People's Bank of China, Measures for the Registration of Accounts Receivable Pledging

中国人民银行应收账款质押登记办法

February 11, 2020 | BY

Susan Mok

Pledging of accounts receivables is made easier

Clp Reference: 3600/19.11.22 Promulgated: 2019-11-22 Effective: 2020-01-01
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Issued: November 22, 2019

Effective: January 1, 2020

Applicability: Where a rights holder carries out the registration of security over other movable assets and rights through the registration publication system, matters shall be handled with reference to these Measures.

The phrase "security over movable assets and rights" includes various transaction forms of a security nature agreed upon by the parties that are created over movable assets and rights, and are provided for the purpose of repaying a debt or otherwise performing debt obligations, including but not limited to lease financing, deposit pledge, stock and warehouse receipt pledge, etc., unless otherwise provided in laws or regulations (Article 34).

Main contents: The current revision revises the shortest initial registration period in Article 12 from six months to one month. Additionally, it revises renewal registration in Article 13 from calculation in years to the shortest period of one month.

Repealed legislation: Measures for the Registration of Accounts Receivable Pledging, 2017

clp reference:3600/19.11.22 issued:2019-11-22 effective:2020-01-01

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