Application Research Of Highway Asset Securitization

The highway development needs large-scale fund supplies, therefore, the traditional financing way can not satisfy this kind of fund demand. The asset securitization is one kind of innovation constitutive financing tool which obtains the widespread application in the European and American countries, and also attracts increasing attention in domestic.This article bases on the Chinese reality, has carried on the positive discussion about our country's highway industry financing methods and how to utilize the asset securitization financing. This article by theoretical analysis primarily, simultaneously auxiliary by necessity empirical study, has carried on the revelation to the asset securitization financing principle and the essential feature. The article also showing that in using the traditional financing methods such as the bank loan, the outstanding share, the enterprise bond or the debenture bond is unable to meet the highway development need, therefore, the market may have the innovation on the financing tools, which draws out the necessity and feasibility to the asset securitization. This article in view of the highway industry's reality, it designs a pattern called Specific Asset Administration Plan which is suitable for expressway asset securitization.This research has provided a new angle of view for the solution of highway financing insufficient problem. It utilizes the asset securitization to improve the highway financing tentative plan which based on the theory and the empirical analysis. If the pattern and concept of the asset securitization financing has draw the highway managed Department's attention, then may organize the earlier period preparatory work on specific project. When the related policy being perfect, then the application will be widespread and apply.