This paper study will take the conception of impawn financing as a point of departure,with comparing the similarities and differences of chattel mortgage and pledge of rights,analyzing and defining the essence and embodiment of warehouse receipt pledging respectively in the areas of finance and legislation.

Logistics companies intervention may be helpful for small-sized enterprises to obtain loans through chattel mortgage from financial institutions.

The real property usufruct is a new civil property right that is different from the real right and also different from the creditor s rights or the intellectual property rights, and is more different from the administrative toll right.

On Similarity of Chattel hypothecation to Chattel Mortgage ——also on stipulations of chattel hypothecation and chattel mortgage of Civil Code of the PRC (draft);

Comparing analysis between Chattel Mortgage and Chattel hypothecation ——also on stipulations of chattel Mortgage and chattel hypothecation of Civil Code of the PRC(draft);

However, the development of chattel hypothecation is not smooth since Roman law.

As a result of traditional property mortgage legal system,personal property mortgage legal system,a perfection in theory,is in conflict with the actual need of the society.

The tradition that only real property can be the object of mortgage has been brought through by personal property mortgage.

The tradition that only real property can be the object of mortgage whilethe personal property can only be the object of pledge have been broughtthrough by personal property mortgage, which meet the need of financing.

The choice of method of chattel mortgages demonstration has significant meaning for completing its system.

The rights of chattel mortgage, however, can be acquired through “being provide for” and in addition such an acquisition shall not be considered as a necessary constituent for possessio