There are provisions on equity pledge in China, and pledge registration should be carried out. According to relevant laws and regulations, registration is an effective requirement. In principle, it is not allowed to transfer the equity after pledge. Unless the pledgee agrees to the pledgor's transfer. Only transferable shares can be pledged. Legal objectivity:

Article 43 of the Civil Code of the People's Republic of China, the pledgee has the right to collect the fruits of the pledged property, unless otherwise agreed in the contract. The fruits specified in the preceding paragraph shall first be offset against the fees for collecting fruits. Article 44th of the Civil Code of the People's Republic of China The following rights that the debtor or a third party has the right to dispose of may be pledged: (1) Bills of exchange, promissory notes and checks; (2) Bonds and certificates of deposit; (3) Warehouse receipts and bills of lading; (4) Transferable fund shares and stock rights; (five) the transferable right to exclusive use of registered trademarks, patents, copyrights and other intellectual property rights; (6) Existing and future accounts receivable; (seven) other property rights that can be pledged according to laws and administrative regulations.