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Order of the Ministry of Commerce and the Ministry of Public ecurity
No.8The Measures for the Administration of Pawning, which were deliberated and adopted at the executive meeting of the Ministry of Commerce and approved by the Ministry of Public Security, are hereby promulgated and shall come into force as of April 1st, 2005.
The Minister of the Ministry of Commerce Bo XilaiThe Minister of the Ministry of Public Security Zhou YongkangFebruary 9, 2005
Measures for the Administration of awning
Chapter I General Provisions
Article 1With a view to regulating pawning activities, strengthening supervision and administration, and accelerating the healthy development of the pawn industry, the present Measures are formulated according to the relevant legal provisions.
Article 2The present Measures shall be applicable to the establishment of pawnshops and the undertaking of pawning activities within the territory of the Peoples Republic of China.
Article 3The term pawning as mentioned in the present Measures, shall refer to the act that a pawner gives his or her chattel or property rights to a pawnshop as a pledge for pawned item or gives his or her real estate to the pawnshop as a mortgage for the pawned item, pays expenses at a certain rate, obtains pawn money and then, within the agreed period of time, redeems the pawned item by repaying the pawn money and the interest thereof.The term pawnshop as mentioned in the present Measures, shall refer to an enterprise juridical person that is established according to the present Measures and specially engages in the pawning activities. And its organizational form and its institutions shall accord with the relevant provisions of the Company Law of the Peoples Republic of China.
Article 4The competent department of commerce shall conduct supervision and administration on the pawn industry. And the public security organ shall carry out public security administration on the pawn industry
.Article 5The name of a pawnshop shall accord
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