Getting Credit

The following table summarize legal rights of borrowers and lenders, and the availability and legal framework of credit registries in China.

Legal Rights Index
Can any business use movable assets as collateral while keeping possession of the assets; and any financial institution accept such assets as collateral ?
Does the law allow businesses to grant a non possessory security right in a single category of revolving movable assets, without requiring a specific description of the secured assets ?
Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring a specific description of the secured assets ?
May a security right extend to future or after-acquired assets, and may it extend automatically to the products, proceeds or replacements of the original assets ?
Is a general description of debts and obligations permitted in collateral agreements, so that all types of obligations and debts can be secured by stating a maximum amount rather than a specific amount between the parties ?
Is a collateral registry in operation, that is unified geographically and by asset type, as well as indexed by the grantor's name of a security right ?
Do secured creditors have absolute priority to their collateral outside bankruptcy procedures?
Do secured creditors have absolute priority to their collateral in bankruptcy procedures?
During reorganization, are secured creditors' claims exempt from an automatic stay on enforcement?
Does the law authorize parties to agree on out of court enforcement?
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