Towards the Consolidation of Movable Security Registration: Is the Successful Romanian Model Applicable in China?

Article

Wang, Shumin, Radavoi, Ciprian N. and Scaunasu, Ion. 2017. "Towards the Consolidation of Movable Security Registration: Is the Successful Romanian Model Applicable in China?" The Chinese Journal of Comparative Law. 5 (1), pp. 173-189. https://doi.org/10.1093/cjcl/cxx006
Article Title

Towards the Consolidation of Movable Security Registration: Is the Successful Romanian Model Applicable in China?

ERA Journal ID201563
Article CategoryArticle
AuthorsWang, Shumin, Radavoi, Ciprian N. and Scaunasu, Ion
Journal TitleThe Chinese Journal of Comparative Law
Journal Citation5 (1), pp. 173-189
Number of Pages17
Year2017
Place of PublicationUnited Kingdom
ISSN2050-4802
2050-4810
Digital Object Identifier (DOI)https://doi.org/10.1093/cjcl/cxx006
Web Address (URL)https://academic.oup.com/cjcl/article/5/1/173/3978660
Abstract

The idea of a consolidated, unique registry for all types of movable securities at the national level has recently surfaced in Chinese academia and policy-making circles. This would align China with the global trend towards the adoption of national, unique registries, a solution in conformity with the one proposed in the United Nations Commission on International Trade Law’s Model Law on Secured Transactions, issued in 2016. In Europe, the consolidated national registry was embraced with varied degrees of enthusiasm. One country where it was successful is Romania, which adopted an original model: notice (simplified) registration, but with filings performed by a capillary system of operators and agents, under the supervision of the Ministry of Justice. This article introduces the Romanian national registry for movable securities in a functional comparative perspective, as a potential source of legal transplant for the Chinese legal market. Adaptation to local conditions requires that the place of operators and agents in the Romanian model be taken in China by the commercial banks.

KeywordsChina, Romania; comparative private law; Legal transplant; Movable securities; National registry; Pledge
ANZSRC Field of Research 2020480302. Comparative law
480699. Private law and civil obligations not elsewhere classified
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Byline AffiliationsDalian Maritime University, China
University of New England
National Union of Bars of Romania, Romania
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