Mode Research Of Assets Securitization Of Accounts Receivable In China Companies

Accounts receivable securitization is a course through which the accounts receivable, which lacks of mobility, but can generates foreseeable cash flow, is conversed to financial products that can be sold and circulated on capital market by restructure. It is an important way to solve the problems of accounts receivable in the world. And it's an important innovation of the management method of accounts receivable.ABS (Assets Backed Securitization) theory is introduced to China in 1980s'. But the practice and theory research mainly happened in the late ten years. Till now, China has carried out some ABS practice among which accounts receivable securitization practice is comparatively more successful. But the practice is still limited and cannot bring paradigmatic effects. Research and discussion aiming for the situation has been carried out. But the internal scholars paid more attention to estate gage loan backed securitization and rarely talk about accounts receivable securitization. In addition, there are relevant regime and environment barriers in our country that hampers the development of accounts receivable securitization.The paper aims to find modes for the development of accounts receivable securitization in our country referring to comparison of practice and regime environment in other countries, theory on asset securitization and the real environment in our country and of ordinary asset and accounts receivable. The mode will provide a new investment tool that brings advantages to parties involved, has less conflict with our regimes or has the chances to break through the regime barriers. The mode will bring paradigmatic effects to the development of accounts receivable securitization in China. The paper introduces the asset securitization theory, then comparing the different modes in America and Japan, the paper gives an initial outline. After that, three modes are suggested according to the four aspects discussion in the process of accounts receivable securitization. At last, problems are pointed out in accounts receivable securitization and advices are also put up.