On Realization Of Property Right Orientation Of International Railway Waybill At Current Stage

With the deepening of global integration,countries have been increasingly linked to each other.Particularly following the comprehensive implementation of the “Belt & Road” initiative in countries along the “Belt& Road”,the cooperation and trade among Eurasian countries has been gradually deepened,thus leading to flourishing of Eurasian railway trade in recent years.The appearance of the China Railway Express has enriched the transport options of Eurasian trade.Traders can choose the China Railway Express,a transport option which is more efficient than sea transportation,relies less on climate,and is also more punctual.Meanwhile,the railway transport has the advantage of a large carrying capacity and a relatively low cost.The international railway transport has gained attention from all walks of life as never before.As a transport waybill necessary for the current international railway transport process,railway waybill is not deemed as a “document of title” like the sea transport waybill.Lack of the real estate attribute of railway waybill has made it impossible for railway waybill to be pledged or transferred,which has also hindered it from being a negotiable document under the rule of the documentary letter of credit.Consequently,traders’ urgent financing needs under the significant growth of international railway trade cannot be satisfied.Therefore,positive exploration of the international railway waybill as a property right has also been one hotspot of academic and practice circles in recent years.In order to meet enterprise financing needs and facilitate their selling and buying of goods on the way,property right development of railway waybill has been imperative.Only in this way can the railway waybill be better geared to international standards,thus promoting the comprehensive implementation of the “Belt & Road” initiative.Otherwise,effective development of railway trade might be inhibited.In China,Chongqing Free Trade Zone has pioneeringly taken actions to formulate the railway waybill system combining international trade regulations.This system represents an innovation of the old system,which can further strengthen the property right development of the railway waybill.Railway waybill can be confirmed as a “document of title” through the triparty contract,including the receiver,freight forwarding company and bank,and used to take delivery of goods.So far,the railway waybill system has been vigorously promoted at the level of national policies.At the level of business practice,traders should make use of the “multimodal transport”waybill for property right exploration of railway waybill,having made some progress.However,after examining the current plans for property right,we find that the railway waybill plan and the combined waybill are both faced with legal barriers posed by international conventions and domestic laws.Meanwhile,their application scope is limited,and their social acceptance is low.It seems that property right of railway waybill has been plunged into an endless loop which has no solution.If the railway waybill or the other alternative transport receipt with the attribute of real right wants to realize its attribute of real right and get accepted by the international community,medium-and long-term repeated practices in the world trade system are necessary.However,two international railway conventions have clearly stipulated that the railway waybill is registered and non-transferrable.At the same time,applications of conventions are compulsory.Once deviated from regulations of these conventions,the railway waybill will be deemed as invalid.Therefore,practices of the aforesaid property right solution is limited to China.This is fatal to the application and practice of international conventions.A simple duplication by taking the ocean waybill as the benchmark can achieve limited effects.However,if the so-called property right is examined from the purpose perspective of the railway waybill as a real right,we will find that the property right of the railway waybill should not be limited to the substitution of the railway waybill,which is extremely difficult to realize.The fundamental purpose of the property right of railway waybill is to find certain voucher for property right to represent the goods of railway transport.If the designated delivery can be completed,transfer of the voucher and delivery of the goods hold the equal effect.Out of the same consideration,when we can dialectically deal with the correlation between transport and warehouse,the warehouse receipt,the document of title,whose real right attribute is less disputable,has been in the spotlight.As a solution for property right of the railway waybill,the virtual international railway warehouse receipt is vividly portrayed.