legal ground
Article 101 of the Civil Procedure Law of People's Republic of China (PRC)
If an interested party fails to apply for preservation immediately due to an emergency, which will cause irreparable damage to his legitimate rights and interests, he may apply to the people's court where the preserved property is located, where the respondent has his domicile or has jurisdiction to take preservation measures before bringing a lawsuit or applying for arbitration. The applicant shall provide a guarantee. If no guarantee is provided, the application will be rejected. After accepting the application, the people's court must make a ruling within 48 hours; Those ordered to take protective measures shall be executed immediately. If the applicant fails to bring a lawsuit or apply for arbitration according to law within 30 days after the people's court takes the preservation measures, the people's court shall lift the preservation.