| Liu Guixiang, justice and full-time member of the Adjudication Committee of the Supreme People's Court of the People's Republic of China, introduces the development of property liquidation in the judicial field in China at the seminar themed on "the Future of Judicial Sales" at the World Enforcement Conference on Jan 22. He outlined the judicial interpretation and proceedings of China’s traditional mode of property liquidation and pointed out the disadvantages of the mode, explaining that an online mode widen the reach of the sales, makes it easier to participate and lowers auction costs. Liu also mentioned the challenges in the property liquidation proceedings such as determination of the starting price. [Photo/court.gov.cn] |
