The Promotion Of The Asset Securitization In Our Country

Asset Securitization is the largest and fastest-developing financial innovation and financial instrument in the world widely-financial field in recent 40 years. It is combination of derived security and financial engineer technology. Its appearance provides new financial instrument for the market, at the same time, its appearance also offers immense changes as well as opportunities to the financial institution. In 1990s, the concept of ABS was proposed in China and was theoretically investigated by some scholars at home. In December 2005, the trial of ABS was formally begun. Based on the analysis of foreign ABS practice, this paper analyses and elaborates the progress and obstacles in terms of Chinese specific national situation since the development of ABS for one year.This paper consists of five parts. The first is introduction, explaining the background of third topic, the way of research, the innovation of research and discussing the definition, structure and kinds of ABS. The second part summarizes the latest development of international ABS, pointing out that the establishment of ABS, market-oriented is a gradually deepened process and needs cooperation of government. The third part systematically studies the relation between ABS and financial development, believing that ABS can enhance the competitiveness of financial institutions and also maintaining that ABS is helpful for the perfection and development of financial market, commercial bank and insurances, through the practice of international ABS. The fourth part analyses the existing situation of Chinese ABS, and sum up the progress and obstacles. Finally , this paper proposes a three-step strategy on the further development of Chinese ABS, the first step will pay attention to accumulate the experiences. The second step is to set up the fund of real estate investment trust in the capital market. The third one is the booming development of ABS.