Legal analysis: When the pledge of rights needs to be analyzed according to the specific circumstances, according to the relevant provisions of the Civil Code, if the pledge is made by bills of exchange, promissory notes, checks, bonds, certificates of deposit, warehouse receipts and bills of lading, the pledge will be established when the title certificate is delivered to the pledgee; if there is no title certificate, the pledge will be established when the pledge is registered. Where a fund share or equity is pledged, the pledge right shall be established at the time of pledge registration. Pledged with property rights in intellectual property rights such as the exclusive right to use registered trademarks, patents and copyrights. , the pledge is established when the pledge registration is handled. Where accounts receivable are pledged, the pledge right shall be established at the time of pledge registration.

Legal basis: Article 441 of the Civil Code of People's Republic of China (PRC) is pledged by bills of exchange, promissory notes, checks, bonds, certificates of deposit, warehouse receipts or bills of lading, and the pledge is established when the title certificate is delivered to the pledgee; If there is no certificate of rights, the pledge will be established when the pledge registration is handled. Where there are other provisions in the law, those provisions shall prevail.

Article 443rd Where a fund share or equity is pledged, the pledge right shall be established at the time of pledge registration.

After the pledge, the fund share and equity shall not be transferred, except that the pledgor and the pledgee agree through consultation. The pledgor shall pay off the debts in advance to the pledgee or deposit the proceeds from the fund share and equity transfer.

Article 444 Where intellectual property rights such as the exclusive right to use a registered trademark, patent right or copyright are pledged, the pledge right shall be established at the time of pledge registration.

After the pledge of property rights in intellectual property rights, the pledgor may not transfer or license others to use them, unless the pledgor and the pledgee agree through consultation. The pledgor shall pay off the debts in advance to the pledgee or deposit the price for transferring or allowing others to use the pledged intellectual property rights.

Article 445 Where the accounts receivable are pledged, the pledge right shall be established at the time of pledge registration.

Accounts receivable shall not be transferred after pledge, except that the pledgor and pledgee agree through consultation. The pledgor shall pay off the debts in advance to the pledgee or deposit the proceeds from the transfer of accounts receivable.