Cross-Cultural Communication
Financial Innovation of the Chinese Financial Markets: New Types of Chattel Pledges
Abstract
The author examines some of the difficulties relating to chattel pledges in China from a financial innovation perspective. This article finds that: (i) under current Chinese financial practice, legal innovation exists in pledges over bank accounts and dynamic pledges; (ii) the new types of chattel pledge faces difficulties establishment and implement of a pledge; (iii) the numerus clausus principle is called into question and should be relaxed to recognize the new types of chattel pledges by way of a broad interpretation, and party autonomy should be taken into account in the realization of them.
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DOI: http://dx.doi.org/10.3968/11715
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