Mortgage in a Chinese Lineage Village in Rural Hong Kong: Patterns and Characteristics

Kwok Shing Chan

Abstract


This article examines the two Chinese customary forms of mortgage (dian and diya) in a Man single-surname lineage village in rural Hong Kong under British colonial rule. By examining 1026 cases of mortgage of the Mans, during the period 1905-1965, this article finds that diya was a common form. This form of mortgage bears the following characteristics: non-lineage members played a more active and dominant role; Man borrowers did not receive concessionary interest rate from kin moneylenders; both grain and cash were used to cover the interest of the loan, but the latter was more popular; less-than-one-year and one-year loans were the most common in mortgages; monthly interest rates usually ranged from 1% to 3% of the principal loan; and a small number of women as moneylenders were found. The findings of this article complement the existing lineage studies on the role of non-agnatic ties in mortgage practices in Chinese communities.

Aus. J. Acc. Eco. Fin. Vol 2(1), April 2016, P 33-48


Keywords


Chinese Mortgage; Formal Money-Lending; Collateral Loan; Loans And Kinship Ties; Corporate Estate And Money Lending; Chinese Lineage

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