The Legal Study On The Non-performing Loans Securitization Of Chinese State-owned Commercial Banks

Accession in the WTO will bring China chances and the challenges at the same time. To meet the requests of WTO, the financial business will be one of the earliest opened businesses .Accordingly, we should push and intensify the financial system innovation and promote the competitive capability of civil banking in the international competition continually. However, there are substantial non-performing loans in Chinese state-owned commercial bank, which has become "a lion in the way" of its stock-sharing system reform. So, dispose of the non-performing loans is the most important thing in the stock-sharing system reform of Chinese state-owned commercial banks and we must accelerate disposing of the non-performing loans. We must adopt a comprehensive mode in which many units use various ways to dispose non-performing loans and enforce the principles of market drastically. We should use the international experiences for reference, base on the situations of China, introduce new instrument and pursue financial creations, by which we can explore a way of disposing non-performing loans applicable to Chinese situations.Asset securitization, as a financial instrument sprang up in American market of housing mortgages in 1970's. For its intricate structure and distinctive function , it was adopted by many countries and applied to disposing non-performing loans broadly. The business of the four Asset Management Companies of China includes non-performing loans securitization, but in this field, there are no legislations in China. In academia, although some economic compositions about non-performing loans securitization were often published, even if there are some legal study compositions, the relevant legal study on non-performing loans securitization was dabbled with just in the discussion on asset securitization. There are no special legal compositions on the topic of non-performing loans securitization, especially on the whole system. Hence, this dissertation focuses on the legal problems concerning non-performing loans securitization. It begins with the concept of non-performing loans securitization and modify its standard mode partly according to Chinese situations and investigate the necessity and feasibility of non-performing loans securitization in China. Then, the dissertation analyzes the universal principles of core system and relevant legal problems concerning non-performing loans securitization and its application in China. Finally, in reference of the abroad legislative experiences, the dissertation prospects the Chinese future legislations in non-performing loans securitization and aim to benefit Chinese legislative practice after the project of non-performing loans securitization come into being.