The Introduction of Unified Registration of Security Interests in Movable Property and Rights in the People’s Republic of China – Background, Functions, and Criticism

Abstract

The “Measures for the Unified Registration of Security Interests over Movable Property and Rights” adopted on November 18, 2021, establish unified registration of security interests in movable property and rights for the first time in the People’s Republic of China. The unified register is a key component in the functional modernisation of secured transactions law and is functionally different from the land register. It provides the foundation for a unified, person-based, and electronic notice filing system. The register has been criticised for its inadequate integration with specialised registers and the Civil Code.