Chattel Secured Financing-from The Legal And Financial Perspective

Chattel secured financing is the way of financing guaranteed by chattel. The improvement of the chattel secured financing system will promote the economic growth in direct and indirect way. The improvement of the chattel secured financing system will protect the creditors more effectively and reduce the borrow cost so to promote economic growth. But the chattel financing system of China is backward. For example, there's no unified legal system. The range of the chattel resources, registration, the execution of law and the priority need improved. So in this context, it's necessary to research the chattel secured financing system and find the further improvement direction. This paper is divided into three parts. In the first part, this paper analyzes the economical effect of the innovation of guarantee system. It uses the empirical method to analyze both the direct and the indirect effect. The conclusion shows that the innovation of guarantee system will bring a positive effect to the economic. In the second part, this paper tries to make a survey to the present condition of chattel secured financing system in china and find the defect. The third part is based on the prior two parts. This part summaries the international law of chattel financing, and then compares it with the law of china, and tries to give some suggestion to improve the law inland. As chattel secured financing system changed a lot with the carry-out of the property law, and there's few people studying this topic both from the economical and legal way, so this paper is innovative.