Legal basis: People's Republic of China (PRC) National Debt Law.
Article 73 Where the debtor is slow in exercising the creditor's right due, thus causing damage to the creditor, the creditor may request the people's court to exercise the debtor's creditor's right in his own name, unless the creditor's right belongs exclusively to the debtor. The scope of subrogation is limited to creditor's rights. The necessary expenses for the creditor to exercise subrogation shall be borne by the debtor.
Article 74 If the debtor abandons the due creditor's rights or transfers the property for free, thus causing damage to the creditor, the creditor may request the people's court to cancel the debtor's behavior. If the debtor transfers the property at an obviously unreasonable low price, causing damage to the creditor, and the transferee knows the situation, the creditor may also request the people's court to cancel the debtor's behavior. The scope of revocation right is limited to creditor's rights. The necessary expenses for the creditor to exercise its right of cancellation shall be borne by the debtor.