(Decree No. 30 of the State Administration for Industry and Commerce on October 17, 2007, announced
the first revision of the Order No. 88 of the State Administration for Industry and Commerce on July 5, 2016 Amendment
No. 5 of the State Administration for Market Regulation on March 18, 2019, No. Second Amendment)
Article 1 These Measures are formulated following the “Guarantee Law of the People’s Republic of China”, “The Property Law of the People’s Republic of China”, “Interim Regulations on Enterprise Information Publicity” and other laws and administrative regulations to regulate the registration of movable property mortgages, ensuring transaction security, and promoting financial integration.
Article 2 Enterprises, individual industrial and commercial households, and agricultural producers and operators who mortgage the chattels specified in Article 180, Paragraph 1, Item 4, and Article 181 of the Property Law of the People’s Republic of China shall pay the mortgagee to the mortgagor The county-level market supervision and administration department (hereinafter referred to as the registration authority) where the domicile is located shall handle the registration. The mortgage right is established when the mortgage contract takes effect; without registration, it cannot be against a bona fide third party.
Article 3 The establishment, modification, and cancellation of chattel mortgage registration may be handled by a party to the mortgage contract as a representative at the registration authority, or an agent jointly entrusted by both parties to the mortgage contract may be handled at the registration authority.
The parties shall ensure that the content of the materials submitted by them is true and accurate.
Article 4 If the establishment of a mortgage right by a party conforms to the circumstances specified in Article 2 of these Measures, it shall go through the establishment registration with the registration authority on the strength of the following documents:
(1) The Mortgage Registration Letter of Movable Property signed or sealed by the mortgagor and the mortgagee;
(2) The subject qualification certificate of the mortgagor or the mortgagee or the identity certificate of the natural person;
(3) The identity certificates of the designated representatives or jointly entrusted agents of both parties to the mortgage contract.
Article 5 The Mortgage Registration of Movable Property shall specify the following contents:
(1) The name (name) and domicile of the mortgagor and the mortgagor;
(2) General information on the name, quantity, and status of the mortgaged property;
(3) The type and amount of the secured creditor’s right;
(4) The scope of the mortgage guarantee;
(5) the time limit for the debtor to perform the debt;
(6) The names and contact information of the representatives appointed by both parties to the mortgage contract or jointly entrusted agents;
(7) The signature or seal of the mortgagor and the mortgagee;
(8) Other information on mortgage rights that the mortgagor and the mortgagee deem that should be registered.
Article 6 If the mortgage contract is changed or the content of the Mortgage Registration Letter of Movable Property needs to be changed, the party concerned shall go through the modification registration with the original registration authority with the following documents:
(1) The Mortgage Mortgage Registration Modification Letter signed or sealed by the mortgagor and the mortgagee;
(2) The subject qualification certificate of the mortgagor or the mortgagee or the identity certificate of the natural person;
(3) The identity certificates of the designated representatives or jointly entrusted agents of both parties to the mortgage contract.
Article 7 In other circumstances where the principal creditor’s right is extinguished, the security interest is realized, the creditor waives the security interest, or the law stipulates that the security interest is extinguished, the party concerned shall handle the cancellation registration with the original registration authority with the following documents:
(1) The “Cable Property Mortgage Registration Cancellation Letter” signed or sealed by the mortgagor and the mortgagee;
(2) The subject qualification certificate of the mortgagor or the mortgagee or the identity certificate of the natural person;
(3) The identity certificates of the designated representatives or jointly entrusted agents of both parties to the mortgage contract.
Article 8 If a party handles the establishment, modification, and cancellation of chattel mortgage registration, and the submitted materials are complete and meet the formal requirements of these Measures, the registration authority shall handle it. The “Cable Property Mortgage Registration Cancellation Letter” shall be affixed with a special seal for chattel mortgage registration, and the date of the seal shall be indicated.
If the parties handle the establishment, modification, and cancellation of chattel mortgage registration, and the submitted materials do not comply with the provisions of these Measures, the registration authority shall not handle it and shall inform the parties of the reasons.
Article 9 The registration authority shall set up chattel mortgage registration files by the Chattel Mortgage Registration Letter, Chattel Mortgage Registration Modification Letter, and Chattel Mortgage Registration Cancellation Letter affixed with the special seal for chattel mortgage registration and shall follow the Interim Regulations on Enterprise Information Disclosure. The registration information of chattel mortgage shall be publicized through the national enterprise credit information publicity system promptly.
Article 10 Relevant units and individuals may log on to the national enterprise credit information publicity system to inquire about the registration information of chattel mortgages, or they may, with legal identity documents, go to the registration authority to review and copy chattel mortgage registration files.
Article 11 If the parties have evidence to prove that the registration information of the movable property mortgage of the registration authority is inconsistent with the content of the submitted materials, they have the right to request the registration authority to make corrections.
If the registration authority finds that the chattel mortgage registration information it has registered is inconsistent with the content of the materials submitted by the parties, it shall correct the relevant information.
Article 12 Upon the application of the parties or interested parties, the registration authority may, by the effective legal documents of the people’s court or arbitration committee or the effective decision of the people’s government, change or cancel the relevant chattel mortgage registration. After the registration of chattel mortgage is changed or revoked, the registration authority shall notify both parties of the original mortgage contract.
Article 13 The parties may handle the establishment, modification, and cancellation of chattel mortgage registration online through the National Market Supervision Chattel Mortgage Registration Business System; the public may inquire about the relevant chattel mortgage registration information through the National Market Supervision Chattel Mortgage Registration Business System.
