On the Amendment and Perfection of Legislation of Mortgage

Among all real rights granted by way of security, mortgage, as the “King of Guarantee” has the special advantage. The Guarantee Law of the People’s Republic of China had nothing to start with. Since the application of the Guarantee Law of the PRC ten years ago, the author offers suggestions for perfecting the legislation of mortgage law of China from six aspects, namely setting up legal mortgage, subdividing and perfecting the mortgage of rights, distinguishing the combined mortgage and the common mortgage, creating the mortgage of securities and the mortgage of owners, constituting new consortium mortgage and floating mortgage, and forming the ship mortgage.