中國物權法對企業融資的影響－－以抵押權為中心

Abstract

自1978年改革開放，1992年小平南巡後，中國也走上市場經濟的道路，其社會經濟開始快速發展，交易和投資呈現前所未有的活絡繁榮，因此，建立完善便利之資金融通管道的呼聲日切。抵押權可謂是中國銀行實務中最頻繁使用之融資方式，而在物權法制定施行之前，抵押權原係規範在擔保法中，惟擔保法之抵押權規定多所缺失，加諸中國經濟快速增長，抵押之相關規定顯然滯後於具體現實。爾後，為求落實2004年中國憲法「私有財產保護」的概念，2007年物權法頒布施行，該法將抵押權體系予以完善，修正和細緻化原本的抵押權制度，增加抵押種類，擴大抵押標的物之範圍，簡化原本冗雜的實現抵押權程序，力求改善長期以來企業融資困難的窘境，提升適用抵押權之機會。另一方面，中國乃我國產業對外投資之流向地，西進大陸的台灣企業不免有融資之機會和需求，物權法的制定自然對其有所影響，可能引起其適用抵押貸款上的調整。中國物權法之抵押權規定旨在擴展融資渠道的目標，而該促進融資之目標可否達成並非取決於某特定一或數條文，而須結合擔保法及物權法的抵押規定，以及中國獨特的經濟體制、歷史背景綜合考量之。因此，本文就抵押權之登記、抵押權之追及性、浮動抵押，和抵押權之實行分述之，從中剖析物權法通過對抵押權的制度運作、功能發揮究竟是助益，抑或是立法的倒退。

Since the reform and opening up of 1978 and Deng’s tour of the southern provinces of 1992, China has set out on a path to a market economy. China’s society and economy have begun to develop very rapidly; trading and investment exhibit unprecedented prosperity. Consequently, there are daily calls for the establishment of complete and convenient financial channels. Mortgage can be said to be the mode of financing most commonly used by Chinese banks. Prior to the implementation of the Property Law of the People’s Republic of China, mortgage was regulated in the Guaranty Law of the People’s Republic of China. However, mortgage regulations in the Guaranty Law were highly flawed. This factor, combined with the rapid growth of the Chinese economy, has caused rules related to mortgage to fall behind actual realities. Subsequently, to implement the concept of the 2004 Chinese Constitution “Protection of Private Property,” the 2007 Property Law was applied to complete the mortgage, reform and detail existing mortgage resolutions, increase mortgage types, expand the range of mortgage items, and simplify the originally complicated mortgage enforcement procedures, thereby pursuing improvements of the financial difficulties faced by enterprises and increasing opportunities for utilizing mortgage. China is the prime destination for Taiwanese foreign investment, and Taiwanese firms entering the Chinese market inevitably have financial opportunities and needs; the Property Law regulations naturally have an impact on such Taiwanese firms and may lead to adjustments in terms of applicable mortgage. The purpose of mortgage rules in the Chinese Property Law is to expand the goals of financial channels. Whether or not these goals can be attained is not dependent on one or multiple specific provisions, but instead, it requires a holistic consideration which incorporates both mortgage rules of the Guaranty Law and of the Property Law, as well as China’s unique economic system and historical background. Therefore, this paper explores mortgage registration, mortgage right of pursuit. floating charge, and enforcement of mortgage in order to analyze whether the passing of the Property Law has been advantageous to the policy operations and functioning of mortgage, or if the law has constituted legislative backsliding.