Civil Code: Lien

(These clauses are selected from The Civil Code of the People’s Republic of China translated and authored by Steve Li and Robert Zhang, international arbitration lawyers registered in Shanghai, China, and published by Kindle Unlimited. No reproduction is allowed unless authorized by the authors.)
 
Chapter XIX Lien
Article 452 The lien holder shall be entitled to the fruits of the property retained under the lien.
The fruits specified in the preceding paragraph shall first be applied to pay the cost for receiving such fruits.
Article 453 The lien holder and the obligor shall agree on the performance period of the debt after the property is retained under the lien, or the lien holder shall allow the obligor a term of 60 days or more to pay its debt in the absence of an express agreement unless the personal property retained under the lien is fresh and perishable cargo or any other cargo not easy to keep. In case of the obligor's failure to pay its debt when due, the lien holder may reach an agreement with the obligor that the claim shall be satisfied by liquidating the property retained under the lien or paid in priority out of the proceeds from the sale of the property retained under the lien by auction or on consignment.
Where any property retained under the lien is liquidated or sold on consignment, reference shall be made to the market price.
Article 454 The obligor may request the lien holder to exercise the lien upon the expiration of the performance period of the debt or file a petition with the people's court to sell the property retained under the lien by auction or on consignment if the lien holder fails to do so.
Article 455 Where any property retained under the lien is liquidated or sold by auction or on consignment, the amount of the proceeds exceeding the amount of the claim, if any, shall be paid to the obligor, and the shortage, if any, shall be covered by the obligor.
Article 456 Where personal property mortgaged or pledged as collateral is retained under the lien, the lien holder shall be entitled to be paid in priority.
Article 457 Where the lien holder loses possession of the property retained under the lien or accepts any other security provided by the obligor as a replacement, the lien shall be extinguished.
Part Five Possession