Secured Finance Law in China and Hong Kong

This book examines systematically the current systems of secured lending in China and Hong Kong where companies or individuals offer personal property as security for credit advanced by a lender. Valid and enforceable security reduces the risk to the lender and so lowers the cost of credit to the borrower. However the Hong Kong system being largely derived from English law is highly complex and in need of root-and-branch reform. The forces of inaction have triumphed and valuable opportunities to create a modern rational and efficient system have been squandered. In China on the other hand a completely new system has been created in the last twenty years which whilst it has various problems and defects has some notable advantages over the common law equivalent found in Hong Kong.