A Research On Chinese Infrastructure Securitization

Asset-backed securitization is one the most important financial innovation in the international financial field. The base of asset-backed securitization financing is the assets which have foreseeable and stable cash inflow. 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 cash flow in future. The thesis researches 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 tries to link asset-backed securitization financing with infrastructure project. With the explanation of the principle and the pattern and the risk , we expect to find a way which will conforms to our country national condition infrastructure asset-backed securitization financing.This thesis mainly consists of four chapters. The first chapter introduces the theories of the infrastructure and analyzes the status in Chinese infrastructure. Chapter 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 chapter, it analyzes ABS compared with other financial ways. Then, it research on these two kinds of assets separately, and advance some novel operational models of ABS in China. In the final chapter the thesis intensively analyzes resist factors which hindering infrastructure securitization and then correspondingly put forward some measures. The whole article follows the way of practice—theory—practice.