A Research On China Infrastructure Asset Securitization

The key obstacle to Chinese infrastructure construction is shortage of funds for the time being. On one hand, the local government can't provide enough funds to meet the huge needs of infrastructure construction because of the poor financial resources. On the other hand, large amount of nongovernmental funds invested in infrastructure construction can't be kept rolling because of lack of quit channel. And simultaneously, huge amount of funds from institutional investor and the public can not be invested in infrastructure fields because of lack of entry channel.The securitization can play an important role on the two parties to infrastructure construction between the initial investor and securitization investor. It can help the initial investor to quit from one infrastructure project and then invest in another project. And it can also help the nongovernmental capital to enter the infrastructure field by buying the securitization products. Hence, infrastructure securitization can largely promote the nongovernmental capital to invest in infrastructure field, and then helps to solve successfully the bottle-neck problem of lack of funds on infrastructure construction.Three available infrastructure securitization models are made out in this paper , which can meet the requirements of Chinese present system frame on asset securitization well. Especially, the non-operating infrastructure securitization model, one of the above mentioned three, is a significant break-through to the popular view in Chinese academic circle that the non-operating infrastructure is unavailable to be securitized. And also some valuable suggestions to perfect Chinese securitization system are raised in this paper.