China's Development Of Asset-Backed Securitization

Since asset curitizations was borning in 1970s,it had fast developed and became the quite important tool in developed countries.And it had used broadly in the world. Compared with the developed countries, because of unique financial system and economic environment , making both theoretical research or practice in use ,china are still in the relatively backward stage. How to use advanced experience from abroad combined with the reality of our country, and earnestly push forward the Asset-Backed Securitization in China's development is the government departments, financial institutions, as well as academics from all walks of life concerns and issues to work. Therefore, this article on China's current development of asset securitization conducted a study in the hope for our country to carry out asset securitization to provide some useful ideas.In this paper, in addition to the introduction and afterword, the divided into five chapters:The first chapter of asset securitization issues of basic theory (including the concept of asset securitization, characteristics, participation in the main, operational processes) are described;Chapter two of the United States the development of asset securitization analysis carried out. Through an overview of the development process of the United States and the United States sub-loan crisis and the securitization of the analysis of the relationship, come to the United States the development of asset securitization characteristics;Chapter three, respectively, from the macroeconomic, capital market,commercial banks and domestic enterprises in China carried out to clarify asset securitization practical significance;Chapter four of our asset securitization of the development process are analyzed. Through the course of our country's legislation and practice on the history of our country come to the development of asset securitization characteristics, and through a further empirical analysis of China's asset securitization practice of the characteristics and shortcomings;Chapter five micro from the macro environment, the assets can be securitized, as well as analysis of the need for financial resources to implement asset securitization is currently with the possibility of conditions, from the system, environment, risk analysis of the constraints currently facing; for the foregoing analysis, the current ,development of asset securitization of specific recommendations.