A Study On Trust Process Of Asset Securitization In China

Asset securitization is one of the most important financial innovations in the international finance field since 1970s.It shows huge advantage in the international financial market on its suitable engineering and unique function , which make it being considered as the main direction for development in the international capital market. The marrow of asset securitization is keeping risk apart. The SPV is a unique arrange to realize such a purpose. It is decisive to the success of asset securitization .SPT is one of the most important and common organize form of SPV.As China's financial industry has seen rapid developed, securitization as a financial innovation who has broad prospects, have been incorporated into the implementation of the financial sector's agenda. However, asset securitization start late in China, formal asset securitization practice is even started from 2005. In the case the existing legal system environment is still imperfect, a systematic analysis about judge the practice model of securities to choose a more feasible model, the specific mechanism and application conditions of such a model in our country and the obstacles that remain to be solved, is particularly important on deepen the development of asset securitization in China.In this paper, demonstration studies and norm studies are combined. Started with the introduction of asset securitization, basal principle and process analysis of SPV, expound the importance of SPV in securitization. Analysis and contrast the organize forms of SPT and SPC. According to the legal institutions environment and practice in china, establish the advantage position of SPT in asset securitization. The paper also make a system research on SPT about the system advantage on keeping risk apart ,the business structure ,realize pattern and other operate mechanism. Combining theory and practice, in light of China's actual situation .Make a detailed analysis and conclusion on the basic operation ideas and the SPT practices that have been taken in asset securitization .In the last part of the paper, a analysis on the main problems on the current practice of SPT in asset securitization has been made. The paper also put forward specific policy proposals. These study have a positive significance on asset securitization business in china.