Legal basis: People's Republic of China (PRC) Civil Procedure Law.
Article 244 If the person subjected to execution fails to perform the obligations specified in the legal document according to the notice of execution, the people's court has the right to seal up, detain, freeze, auction or sell off the property that the person subjected to execution should perform. However, the necessities of life of the person subjected to execution and his dependents shall be retained.
The people's court shall make a ruling on taking the measures mentioned in the preceding paragraph.
Article 247 After the property is sealed up or detained, the executor shall order the person subjected to execution to perform the obligations specified in the legal documents within a time limit. If the person subjected to execution fails to perform within the time limit, the people's court shall auction the sealed-up or distrained property; If it is not suitable for auction or both parties agree not to auction, the people's court may entrust the relevant units to auction or auction on their own. Articles prohibited by the state from trading freely shall be handed over to the relevant units for purchase at the price stipulated by the state.
Are tiered funds suitable for fixed investment?