Development Of Asset - Backed Securities Business In China

The Asset Securitization is a process that can transfer the fund that lack flowing into flowing fund, the fund comes from financial organ or other organ, his process can make these fund refinancing. The main actor in the process is: the sponsor, the Special Purpose Vehicle, the credit enhances organization, the credit rating organization.Along with the fast development of Chinese economy, the basic condition that carry out the Asset Securitization has became mature: first, the fast development of economy has offered material guarantee for Asset Securitization; second, increasing income offer capital guarantee; third, our country already appeared many correlation legal policy, this promote the development of Asset Securitization.The paper introduces the history and current situation of international and domestic asset securitization, makes us a thorough understanding of asset securitization. Then we make detailed instructions of process of asset securitization, analyzes the factors that influence asset securitization pricing and characteristics of asset securitization, put forward suggestions to improve asset securitization pricing. Finally the paper introduces the situation and reasons of the U.S. subprime lending crisis, analyzes its impact on China, puts forward some suggestions to improve the development of asset securitization.