Study On The Practice Of Mortgage-Baked Securitization In China

Mortgage-backed securitization is an important innovation in the field of international finance,and it has injected new energy into the world's economic development.With the rapid development of the real estate,many experts have done much research on it in our country during the recent years.On Dece15th,2005,People's Bank of China approved China Construction Bank as the pilot of securitization of house mortgage loans to issue"Jian Yuan"MBS in inter-bank bond market.At present,our country has an effort to expand the capital market and promote financial innovation. In the second half of 2007,the sub-prime mortgage loan crisis in America has sounded the alarm for us. Being compared with the mature issue model overseas,China's first mortgage securities are far less-than-perfect.We must speed up the securitization process of China's housing mortgage.Based on the basic theory,the comparison of housing mortgage securities in different countries, China's present situation,and the study of the model of CCB first housing mortgage securities,this dissertation discusses the existing problems and solutions in China's mortgage securities financing development.