In order to further improve the availability of enterprise financing, recently, the CBRC and the People's Bank of China jointly issued the Guiding Opinions on Promoting the Healthy Development of Movable Property and Rights Financing Business (hereinafter referred to as the Guiding Opinions), promoting banking institutions to optimize movable property and rights financing business and improve the quality and efficiency of serving the real economy. Revitalizing all kinds of movable property and rights to use movable property and rights for financing is "icing on the cake" for large enterprises that have a large number of real estate and movable property, and "timely help" for small, medium-sized and micro enterprises that lack real estate. Small, medium and micro enterprises often lack real estate. Most of them own movable properties and rights such as production equipment, raw materials, accounts receivable, etc. In the case that guaranteed loans often require real estate such as factory buildings and land guarantees, small, medium and micro enterprises often have difficulty in obtaining loan financing. This is the so-called mismatch contradiction between the actual asset structure of small and medium-sized enterprises dominated by movable property and rights and the current situation of bank guaranteed financing dominated by real estate. According to the professor from the School of Economics and Law of Northwest University of Political Science and Law, from the perspective of the current credit scale, the loan scale obtained by enterprises through mortgage rights and movable property is very small. The vast majority of enterprises lacking real estate loan financing are small and medium-sized enterprises and private enterprises. In the opinion of Li Shuqu, director of the Management Committee of Beijing Profit (Zhengzhou) Law Firm, the issuance of the Guiding Opinions will help solve the financing problems of small, medium and micro enterprises and private enterprises. The movable property of SMEs in China accounts for a high proportion of assets. When the mortgage of bank loans is mainly immovable property, it is difficult for SMEs to achieve a breakthrough in financing. Promoting the pledge of movable property and rights this time is of great significance for SMEs to solve the financing problem. According to the relevant person in charge of the CBRC, the Guiding Opinions, by focusing on the mismatch between the actual asset structure of enterprises and the status quo of guaranteed loans, actively revitalize various movable properties and rights, further create a fair and convenient business environment, improve the availability and sense of access of enterprises to financing, and to a greater extent stimulate the vitality of market players and the endogenous power of development. The Guiding Opinions consists of five parts and 17 articles, including the general requirements and basic principles, strengthening the service of movable property and rights financing, deepening the innovation of movable property and rights financing business, improving the risk control ability of movable property financing, and strengthening the organization and implementation. Liu Xiaoyu, senior partner of BOC Beijing Law Firm, further improved the policy environment, and believed that it was the general trend to comprehensively promote the pledge of movable property and rights. In fact, since January 2021, when the unified registration of movable property and rights guarantee was implemented nationwide, significant achievements have been made in improving the efficiency of movable property and rights guarantee financing and improving the business environment for enterprise financing. According to the latest data published by the unified registration and publicity system of movable property financing of the People's Bank of China Credit Reference Center, in July 2022, from the perspective of transaction types, 26239 pledge registrations of production equipment, raw materials, semi-finished products and products, 26971 pledge registrations of accounts receivable, 19639 pledge registrations of deposit receipts, warehouse receipts and bills of lading, 510688 financial leasing registrations, 124813 transfer (factoring) registrations of accounts receivable, 12104 ownership retention registrations, Other movable property and rights guarantee 11127