A Research On Chinese Infrastructure Securitization

Infrastructure has influence on economic and peole's living standard,so,all countries pay much attention to it.Asset securitization is a process issuing freely traded securities that are based on separating and reforming the profits and risks of a group of assets that will produce cashflow in future.The thesis researchs on the operation of Asset-backed securitization in infrastructural industry of China.And the author think it can promote Chinese infrastructure to keep pace with the development of economic.This thesis mainly consists of six charpters. The first charpter introduces the theories of the infrastructure and analyzes the status in quo of Chinese infrastructure. Chatpter two introduces the innovative techniques in securitization process,such as bankruptcy isolation and credit enhancement and so on. At the same time,it also gives a review on the practical history of the ABS in the world. In the third charpter,it analyzes ABS compared with other finacial ways.Based on the incisive analysis,it finds some industries which are suitable to apply ABS. The thesis consider that the assets relative to infrastructure projects could be classified in two:one are credit assets of project,another are income assets of project.Next two charpters reaserch on these two kinds of assets separately,and advance some novel operational models of ABS in China. In the final charpter,the thesis intensively analyzes different factors which hindering infrastructure securitization and then correspondingly put forward some countermeasures.