The Design Of A Company For The Operation Models Of Indigenization Functioning On The Financing Of Securities Based On The Charges Of Expressways

As the skyrocketing of the expressway construction, it is becoming more substantial to gather huge sum of funds to support it. For the departments in charge of the transportation and the enterprises which are engaged in the business of highways, how to reduce the cost of financing is a keen point to solve. With the asset-backed securities(ABS) financing based on the charges for passing fees in the future, expressways can play a uniquely beneficial role, and the paramount feature of it lies in funding out of debt list so that the retrieve of the funds for the construction of expressways will be assured.Concerned with the trading forms of the asset-backed securities and the domestic practices, the asset-backed securities can be specified into two distinct categories: the offshore operation and the operation of indigenization. The pith of this article lies in seeking a design for the operation of indigenization functioning on the financing of securities based on the charges of expressways, based on the trust law, under the frame of the domestic institution and in the environment of the present market.In this article four models are recommended. Concerning synthetically thefactors such as the effect of segregation, the demand of exemption, the cost of operation and the uncertainty. Two trading structures, the model of trust which is similar to secured company liabilities and the model of being sold by enterprises after signing and issuing through trust, are relatively satisfying at present.Four parts are demonstrated in this article. Part one: this part introduces the summarization of the ABS (asset-backed securities), which includes the conception, the basic theory, the features, the categories, the basic running process, and the circumstance of the research and development, etc. Part two: the main contents of this part are the necessity and the analysis for the feasibility of the financing of securities depending on the charges of expressways, including the analysis for the feasibility of the financing of securities on the basis of the expressways' charges, the option between the two operation models, and the analysis for the feasibility of the operation of indigenization, etc. Part three: this part mainly demonstrates how to design the plan of A company for the financing of securities and indigenization, which consists of the introduction of A company's background and the main problems to be confronted, the features of the basic assets and the analysis of the cash currency, the selection of SPY, the design of trading structure, the product design of securities, etc. Part four: this part discusses the financial evaluation about A company's design of the financing of securities and indigenization on the basis of the expressways' charges, the analysis of the risks and the analysis in general.