Study On Asset-Backed Securitization Of Infrastructure Construction

China is a developing country, in this period the development of economy need the supporting of infrastructure construction. Every year government needs to invest vast finance fund in infrastructure construction, and the particularities of infrastructure construction are vast amount of investment, long term of callback period, low level of revenue and so on, so those particularities determine that there will be many handicaps in the process of financing, then those handicaps will conduce unique investor, simple financing channel and the delay of many important project because of the absence of money. So the development of the country and the evolution of economy need a mass of infrastructure construction (eg. transportation construction, ductwork construction, edbiz supporting), if the development run short of adequate infrastructure construction and the supporting of funds, the development speed of a country and economy will slow down. So the research of how to extend financing channels and attract more and more investors for infrastructure construction will make good sense.Asset-Backed Securitization (ABS) is the most important innovative financing method in the 19^th century, if this financing method can be used in the process of infrastructure construction, the financing channel and the variety of investor will be extended, the liquidity of the assets will be increased, and also this will result in the development of our capital market.This research is based on the project of Beijing-Shanghai high-speed railway, and the aim is to study the feasibility of the application of Asset-Backed Securitization in the financing process of infrastructure construction. If it's feasible, the handicaps encountered will be solved out, the status of single government investment will be changed to multi-channel social investment, the innovation of financing system will be carried out, and the construction step will be accelerated.In the finality, the project of Beijing-Shanghai high-speed railway satisfies the basic qualification of Asset-Backed Securitization, and Asset-Backed Securitization could solve out the problem of capital gap.