Domestic ZK Company Manufacturers Financial Leasing Asset Securitization Research

In 2008, the Wall Street crisis rapidly spread to global financial markets, asset securitization for this 21st century's greatest financial model innovation brought by the subprime crisis many have criticized. The new finance leases as credit sales model, with its improving investment and financing, promote sales and asset management, rapid development of the unique advantages.The Department of finance leasing companies domestic manufacturers, "short-term debt to support long-term assets" that the asymmetric structure of assets and liabilities, making leasing companies are often caught in the plight of the lack of liquidity. The current bank factoring, trust banking products, financing models such as the parent company to refinance the domestic financial leasing companies have been unable to meet development needs.Therefore, this article from the securitization of assets of domestic financial leasing companies as a new means of financing such a view, the main systematic study of the leased asset securitization on the motives and financial leasing companies to optimize capital structure effects. Paper in the asset securitization, financial leasing and rental assets, to define the concept of securitization, the literature review of the leased asset securitization on the theory research and practice, the leased asset securitization described the basic theory, combined with engineering machinery finance leases as assets securitized pool of assets based on the characteristics of assets, for the leased asset securitization transaction structure, operating model design.Research suggests that in the context of our established system, compared with the traditional mode of financing, leasing asset securitization income-oriented asset financing, by virtue of part of assets of financial leasing companies the ability to finance future benefits, not only changed the traditional means of financing, but in practice proved to enhance the finance lease is one effective means of cash flow.The characteristics of this paper is standing on line vendor finance leasing company's perspective, explain the operation of financial leasing company's capital and financing sources, breaking the previous stand of finance leases are discussed in terms of financial leasing companies all the advantages of the conventional and attention from the engineering mechanical characteristics of financial lease, outlining the leased asset securitization transaction mode.