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Auction Law of the People's Republic of China
(Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)
Chapter I - General Provisions
Article 1
Article 2
Article 3
Article 4
Article 5
Article 6
Chapter II - Auction Targets
Article 6
Article 7
Article 8
Article 9
Chapter Three - Parties Involved in Auction
Section III - Auctioneers
Article 10
Article 11
Article 12
Article 13
Article 14
Article 15
Article 16
Article 17
Article 18
Article 19
Article 20
Article 21
Article 22
Article 23
Article 24
Section Two - Trustees
Article 25
Article 26
Article 27
Article 28
Article 29
Article 30
Article 31
Section Three - Bidders
Article 32
Article 33
Article 34
Article 35
Article 36
Article 37
Section Four - Buyers
Article 38
Article 39
Article 40
Chapter IV - Auction Procedures
Section One - Auction Trust
Article 41
Article 42
Article 43
Article 44
Section Two - The Auction Notice and Display
Article 45
Article 46
Article 47
Article 48
Section Three - The Implementation of Auctions
Article 49
Article 50
Article 51
Article 52
Article 53
Article 54
Article 55
Section Four - Commission
Article 56
Article 57
Chapter V - Legal Liabilities
Article 58
Article 59
Article 60
Article 61
Article 62
Article 63
Article 64
Article 65
Article 66
Chapter Six - Supplementary Articles
Article 67
Article 68
Article 69
Metadata
SiSU Metadata, document information
Manifest
SiSU Manifest, alternative outputs etc.
Auction Law of the People's Republic of China
Chapter Three - Parties Involved in Auction
Section Four - Buyers
Should a buyer fail to obtain an auction target as agreed upon, he or she has the right to demand that the auctioneer or the trustee bear the liabilities of breaking a contract.
Should a buyer fail to take back an auction target as agreed upon, he or she shall pay the storage costs arising thereafter.
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