金融創新與中國動產擔保制度改革

The Financial Innovation and Reform of Law on Secured Transaction in China

自《中華人民共和國物權法》頒布以來，中國動產擔保融資得到了長足的發展，有效解決了中小企業融資難的問題，但隨著一些市場危機的出現，也標明其仍存在一系列制度缺陷。在制定民法典的時代背景下，有必要充分審視過去一段時間的制度與實踐經驗、改革目前的多元擔保物權體系、構建一元的動產擔保物權體系，統一登記機構與登記效力、擴大擔保財產範圍、完善擔保物權規則體系。在便利動產擔保融資交易的同時，防範金融市場系統性風險，為金融市場健康穩定發展構建堅實的金融市場基礎設施。

Since the enactment of “China Real Property Law” in 2007, the secured transaction on personal property has proliferated in the mainland of China, and has eased the financing problems of the SMEs, however it also demonstrates the institutional drawbacks with the burst of some market crisis. In the context of civil codification, it is necessary to retrospect the development of the law on secured transaction, and think about how to reconstruct the legal framework for secured transaction, such as reforming the pluralism on the establishment of security interests on personal properties and constructing a unified framework for it, unifying the registries and the effectivenss of public record for its perfection, expanding the eligible collateral and so on, so as to facilitate the secured transaction on personal properties. It is also necessary to take into consideration of the control of systemic risk and lay down a robust foundation for the financial markets.